Q. I’m a FERS employee. I understand that if I have at least 25 years of service and accept my agency’s early retirement offer, I can retire at any age. If I do, when will I receive my benefits?
Browsing: Special retirement supplement
Q. I am 55 and will reach my minimum retirement age in December. If I take the offer for VERA, will I qualify for the special retirement supplement? Or will I get penalized for not waiting until my MRA age?
Q. How does the Office of Personnel Management calculate the special retirement supplement? I turn 56 this year and plan on retiring with 33 years government service; 9 of which are for military time that I bought back. Based on comments that means that my SRS will be based on 24 years of civilian federal employment.
Q. An employee began work in the United States Postal Service in December 1990. If removed for misconduct, can this employee retire now (March 2018) and still collect FERS retirement including Special Retirement Supplement? While appealing the removal with MSPB?
Q. I have read conflicting views on whether the Voluntary Separation Incentives Payments (VSIPs) and annual leave payments are subject to the earnings test. Other sites report under Office of Personnel Management rules monies you earn in the year in which you retire are not subject. Does this mean if I retire in March and lump sum payment for annual leave and a VSIP is paid that year, it does not count against my supplement?
Q. I’ve just received notice that I am eligible for VERA at the U.S. Postal Service and adding up my years found that I’ve been with the Postal Service for 19 years and 6 months. However, I just turned 53 and I bought my military time of 3 years when I first entered the Postal Service. Retirement would be possible if I qualify for SRS. Do I qualify for the SRS? And If I do, when does it go into effect?
Q. I’m 66 with 18 years continuous service plus two-year military service, which I paid into FERS in order to get it credited. I had 20 years under FERS when I was 53 already. I’ve worked in the private sector since. I understand the computation of the monthly benefits (@$95K x 20 years x 1.1%), but am not clear on what will happen with the FERS compensation (if any) from 62 to 66. Will the Office of Personnel Management pay this as a lump sum or calculate it into the impending payments or have I forfeited those years?