Scenario 1: I am considering retiring on Dec. 31, 2013, which is in the middle of a pay period. Can a person retire in the middle of a pay period? Scenario 2: What if I decide to retire at the end of the pay period (Jan. 4, 2014) instead? This way, I could collect my full sick leave, which goes into effect on Jan. 1, 2014. My concern is that I could still receive my first retirement check for the month of January and all my 2013 accrued vacation time as though I retired Dec. 31, 2012. Or will I…
Q. I retired in 2004 from the Postal Service on a CSRS disability. I had 28 years total service (paid back military time) and am 100 percent disabled through the Veterans Affairs Department (combat-related). At the time of separation, my personal office told me after age 62 (August 2011), I would no longer have to pay taxes. Is that true? A. There isn’t any tax advantage to being retired on CSRS or FERS disability unless you are totally disabled for all gainful employment. Since the Office of Personnel Management can’t make that determination, you’ll have to check with your local…
Q. I changed from GEHA high deductible to Blue Cross/Blue Shield Standard Family and would like to add one of the vision plans. When I called BEST, they told me this could only be done during open season. I thought this was like an addition to the Federal Employees Health Benefits plan. I realize these are stand-alone plans, and I haven’t had a life qualifying event. I just want to get a vision plan for the first time. Have I missed the boat until the next open season? A. Yes, you’ve missed the boat. Unless you have a life qualifying…
Q. Please tell me approximately how much money I will receive upon expecting to retire June 3 with accrued annual leave of 240 hours, use-or-lose of 208 hours, plus 49 years of government service? A. To find out the gross amount you’d receive, multiply your hours of unused annual leave by your hourly rate of basic pay. For example, if you had 240 hours of unused annual leave and your rate of basic pay was $20 an hour, then your lump-sum payment would be $4,800. However, the amount you will receive will be less because federal taxes, state taxes (where…
Q. I am a non-dual-status employee, under FERS. I resigned in 2007 with a deferred retirement. I didn’t touch it. I came back in 2009 as an emergency hire non-dual-status for two years. I then was made a temporary NTE for two years. I was then brought back as a reinstatement employee NTE four years with my benefits back. Is there any way to pay back any of the time between when I resigned and when I came back as a reinstatement employee? When I resigned, I had 20 years of retirement but was nowhere near the age. I am…
Q. If I die after retirement and have my annuity reduced to get a full survivor annuity benefit for my wife, I understand my wife would get 55 percent of what my regular retirement annuity would have been. What if I am retired and my annuity is reduced to cover full survivor benefits for my wife (survivor) and she dies before I do? Do I then start to receive my regular retirement benefits without a deduction for full survivor annuity? In other words, once a deduction from retirement pay for survivor annuity starts, can it be reversed and returned to…
Q. I retired from the government Nov. 30, 2011, as a GS-13, age 56 with 30 years of service. I started a new job where my earnings will exceed my previous salary as a fed. I have been receiving partial annuity payments as expected, but the Office of Personnel Management just sent FERS supplement payments for Dec. 11 to March 12. Will I have to repay the supplement for January to March 2012, because my earnings in 2012 have already exceeded the $14,000 maximum additional income limit? The rules I have read talk about calculating the supplement based on earnings…
Q. Approximately how much does a CSRS letter carrier from Kansas receive (pension) after 40 years of service? Never promoted beyond letter carrier. A. You’ll have to figure it out yourself, using the following formula: 0.015 x your highest three years of average salary (your high-3) x five years of service, plus 0.0175 x your high-3 x five years of service, plus 0.02 x your high-3 x all remaining years of service.
Q. I’m considering taking the next VERA offer in May. I’m a FERS employee with 17 years of service and am age 61. I also have 11 years of NAF service with no break in service. I never made any sort of selection of credit for my NAF retirement, so I’m assuming I made a FERS selection by default. My servicing agency tells me that I cannot take both my NAF retirement, which I paid into, and my FERS retirement should I decide to take the VERA. That just doesn’t sound right to me. Is my servicing agency correct? A.…
Q. I resigned federal employment after 21 years. A few years later, I was advised by the Office of Personnel Management that I was eligible for the reduced benefits of minimum 10-year early retirement (FERS). However, they made no mention that if I wait until age 60 (another three years), I may receive unreduced (full) benefits. As I understand the regulations, I am eligible for unreduced benefits at age 60, with at least 20 years of service, even if I resigned before reaching the minimum retirement age. Is this correct? Do I need to appeal the decision of OPM regarding…