Q. I have 26 years with the Postal Service under FERS. I am 59 years old. If I retire now, am I eligible for the special retirement supplement? Or do I have to wait until I’m 60? I have not been offered early-out incentives.
Browsing: Special retirement supplement
Q. My understanding is that the special retirement supplement is not paid between when you stop working and when the Office of Personnel Management approves your retirement. I read this can be as long as six months. Once I am approved for retirement by OPM, I should start receiving the supplement. Is the supplement amount I receive calculated from the day I retired from the government? Will I get a large payment after OPM approves my retirement for the six months of more of payment due?
Q. I retired under law enforcement 6(c) at age 50 with 20 years of service. I am 52 years old and my minimum retirement age is 56. I am considering returning to federal employment. I know that my salary will be reduced by the amount of my annuity. I also know I can make an unlimited amount of money from now until I reach my MRA without it affecting the special retirement supplement. However, if I work past my MRA, and the supplement goes away, will my agency automatically have to give me a raise in that amount? Or is…
Q. If I retire at my minimum retirement age of 56 with 32 years of service, I would qualify for the special retirement supplement from age 56 to 62. When I turn 62 and the supplement ends, could I then decide to defer receiving Social Security until age 67 or 70, or am I committed to receiving the level of benefits I would get at age 62?
Q. I am a Defense Department civilian and have met my minimum retirement age. I will not be eligible for full retirement under FERS until September 2015. By then, I will be 60 and will have 30 years of service. If I accepted a VERA/VSIP (I am on the offer list), would I get hit with an annuity reduction if the offer is not the result of a reduction in force? If I could take the offer without a reduction, would I also receive the special retirement supplement?
Q. I am retiring at 57, the mandatory retirement under FERS for law enforcement. I know there is something called the first year rule; will the special retirement supplement I receive for approximately five years be subject to the earnings limit? I heard the supplement is not subject to it, but when I reach age 62 and the supplement ends, any Social Security I receive will be subject to it. Can you clarify if the supplement law enforcement officers receive under FERS if retiring at the mandatory retirement age is subject to earnings test? If so, when?
Q. At my MRA of 56 (with more than 30 years of federal service), I will be able to receive my FERS annuity, access my TSP and receive the special retirement supplement. The supplement is payable until age 62, at which time I will become eligible for Social Security. Must I enroll in Social Security at age 62 if I’ve taken the special retirement supplement up until then? There are financial advantages to deferring Social Security. I understand the annuity will stop once I reach 62, but can I defer my Social Security to when my benefit will be greater?…
Q. An employee retires in June (at age 58) and has been paid over $50,000 in wages. Will this employee be eligible for special retirement supplement payments immediately or will they be withheld until the start of the next year?
Q. I am a postal employee covered under FERS. I will have 33 years of service at my minimum retirement age in January 2016. I have a year’s worth of sick leave and hopefully this will continue to grow. In computing the special retirement supplement, will my service time include the year’s sick leave credit?
Q. I am FERS began with the Postal Service in January 1985. I bought back 3½ years of Army service (honorable). I am past my minimum retirement age but confused about the 30 years of service. To qualify for the special retirement supplement, do my military years count?