Q. I am 65 years old, have 30 years continuous military service and am retired, so I know I will get Social Security next year if I choose. However, I also now have 10 years continuous civilian federal service. My SF-50 indicates FERS-FICA. I am in a full-time indefinite status but have been a GS for three straight years and in NSPS status for two years following that. There have been no breaks in service. I also contribute 7 percent to TSP. If I retire from federal service next year, what, if any, are the retirements benefits under FERS-FICA excluding…
Q. I will have 10 years of federal service as of Jan. 27, 2013. I am 59 years old. I may have a job opportunity to return to a private-sector job. If I changed jobs and deferred my annuity until age 62, would I still qualify for government insurance? A. Since you would be retiring under MRA+10, you’d be able to re-enroll in the Federal Employees Health Benefits and Federal Employees’ Group Life Insurance programs but only if you were enrolled in them for the five consecutive years before you retired.
Q. I am a federal employee under FERS and plan to retire from my current job at full retirement age and then continue working. Would I be able to work full time or part time for another federal entity without negative consequence? I’ve heard that there are new provisions being contemplated to allow retired federal employees to return to work part time in federal employment? A. There is a new law, but it doesn’t apply to someone retiring from one agency and moving to another. It only applies to an employee who retires and continues as a part-timer in their…
Q. I have been on Department of Labor/Office of Workers’ Compensation Program for approximately 15 years due to an on-the-job injury. It does not look like I will ever return to work. What are my options? And where can I find answers about my situation? A. If you don’t recover from your disability, your OWCP payments will continue for the rest of your life. If you also applied for disability retirement when you applied for OWCP benefits, you could, of course, drop those benefits and become a disability retiree. However, before you did that, you’d want to be sure that…
Q. I am a federal employee with the Department of Justice, non-law enforcement, and will have 30 years of service at age 54, approximately two years before my minimum retirement age. Can I leave the government before MRA with 30 years and still be eligible to receive my special retirement supplement and my FERS retirement without a penalty at my MRA? Would I still be able to collect my Thrift Savings Plan, without penalty at my MRA, or would I be required to wait until age 59½? A. Reg: If you left government before reaching your minimum retirement age, you…
Q. I’m retiring under CSRS on Dec. 31. I’m covered by Federal Employees Health Benefits. I intend to sign up for Part B and keep FEHB. My wife is under my FEHB and Medicare A/B. When would be the best time for me to sign up for Medicare Part B? Under Part B, how do I know what level of coverage I need under FEHB? Should I keep what I have now? A. There is a seven-month initial enrollment period for Medicare Part B. It begins three months before you turn 65 and ends three months after that month. It’s…
Q. I have been offered early retirement. I have 25 years, six months and 13 days as of the retirement date. The offer showed that I will be rounded up to 26 years by adding five months and 18 days to reach my anniversary date of July 19. I have used five months x 174 hours/month + 18 days x 8 hours/day to total 1,014 hours. If I double that amount, it becomes 2,028 hours, which is more than I now have, per the last pay stub, which shows 1,971 hours of sick leave. I need about 16 hours for…
Q. I am a federal employee with the Department of Justice in Oklahoma City. I am planning on retiring the end of this year, after 21 years and seven months. I contacted human resources in Washington, D.C., and asked for an estimate of my pension. I also asked for the best date to retire, and was told Dec. 28, as it is the end of the 26th pay period. This year, there are 27 pay periods and I just wondered if the date I was given was the best, as I have heard that it’s best to retire at the…
Q. I retired on an early-out offer on Dec. 31, 2011, with 29.5 years of service at age 52. As a self-employed individual, I am paying both the employer and employee share (slightly reduced) to Social Security. Assuming another 15 years of work, that’s a tremendous amount to be paying into a retirement system with little or no benefit. I also have quarters from pre-CSRS employment. What, if any, Social Security benefit can I receive down the road? A. At age 62, you’ll be eligible for a Social Security benefit. Whether or not you apply for it at that time…
Q. I am 47 years old and worked for the post office for three years. During that time, I bought back my military service time of eight years. Am I eligible to someday get that retirement for the 11 years? If not, will I be reimbursed what it cost to buy back my time? Is the Thrift Savings Plan a separate entity, and when can I start receiving that? I’m currently working away from the federal realm. A. Reg: No, you wouldn’t be eligible for an annuity because you didn’t have at least five years of actual civilian service. If…