Q. In 2015, I will reach my minimum retirement age (56) with 26+ years of creditable FERS service. If a VERA is offered any time that I’m 56 to 60 (when I will have reached full age and time requirements) would I get the special retirement supplement until age 62? If yes, then from 56-62, I would get: FERS immediate annuity (no penalty under a VERA) Thrift Savings Plan annuity (no penalty under a VERA) special retirement supplement (under a VERA). Also during these years there is really no cost-of-living adjustment for any of the above, correct? Also, under a…
Browsing: Special retirement supplement
Q. I took early retirement from the post office Feb. 28, 2009, with 26 years of service at age 48. Will I be eligible for supplemental income at age 56?
Q. I served five years and six months active duty in the Air Force from January 1989 to July 1994. In 1996, I joined the Air National Guard. I am in the Air Guard and have 24 years of service with eight years’ active-duty time. In 1999, I became a full-time federal law enforcement officer. In seven years, I will be 50 and have 21 years’ covered federal law enforcement. If I buy back my military time to get additional federal retirement, will I still be able to receive my military retirement at 60? Or am I better off not…
Q. If I have 20 years of federal service (including more than 15 in the foreign service) but I haven’t turned 50, can I retire but defer receipt of my benefits/pension until I am eligible at age 50? For example, an employee is 47 years old and has completed 20 years of federal service. Can that employee leave the service and still receive full retirement benefits beginning at age 50?
Q. When I retire, I will be 59½ and will have 30 years of service at the Postal Service. I will not have any earned income from that point on. I understand federal and state taxes will be taken out of my FERS annuity and any money I take out of my Thrift Savings Plan. Will I also have Social Security deducted from these two sources? Also, will my special retirement supplement and — when I turn 62, my SSI benefit — also be subject to federal and state taxes?
Q. I’m about to turn 55 in May and will have 20 years at a quasi-government agency (Pension Benefit Guaranty Corp.) under FERS in July. My benefit statement indicates that I am eligible for ‘Voluntary Early or Discontinued’ in July with the early retirement if my agency has authority. The agency is reorganizing and human resources advised that they have sought approval from the Office of Personnel Management to offer buyouts and were awaiting a response from OPM. But HR was not sure how selectively my agency would offer them or whether they would only be offered to specific (and…
Q. I’m a FERS employee considering retiring under the MRA+10 provision. I’m 59 with 20 years of service. If I postpone the start of my annuity until I reach 60, I know there won’t be any reduction in my annuity. Will I also be eligible for the special retirement supplement if I postpone my annuity?
Q. I plan to retire at age minimum retirement age of 56, with 34 years of service and received an estimate of FERS annuity plus special retirement supplement. The estimate only shows deductions for federal tax and maximum survivor benefit election from the base FERS annuity but no deductions from the special retirement supplement. Can you verify that the special retirement supplement is not federally taxed?
Q. I am under FERS and my agency is offering a buyout under which you must retire by May 31. If I retire based on the buyout, I will receive a lump-sum payment in addition to the special retirement supplement. I understand the SRS may be eliminated per the current budget bill. The budget bill states the SRS will be eliminated for those who retire after Jan. 1, 2014. Will the elimination of the SRS, if passed, be grandfathered in where it could affect those who are already receiving the supplement, and/or for those who start to receive the supplement…
Q. I retired from the Senate at 50 with 21 years of service. Am I eligible for the special retirement supplement at my minimum retirement age of 56?