Q. Can time spent at a military service academy — which is not included as part of an active-duty military retirement and can be purchased to count toward a federal employee’s retirement — be used for annual leave accrual purposes in addition to the normal campaign and awards time that is normally used for healthy military retirees? I do not find it specifically addressed by the Office of Personnel Management in the Personnel Guide to Processing Personnel Actions, Chapter 6 – Determining SCDs. A. According to OPM, for leave accrual purposes, retired members of the military receive credit only for…
Q. I had 38 years of federal service with the Architect of the Capitol. Will I receive the extra money paid into CSRS system six years past 32 years? How will that money be paid to me? A. As a rule, CSRS employees have to work 41 years and 11 months to earn an annuity that equals 80 percent of their high-3. That’s the maximum amount that can be paid in an annuity based on creditable service. Only special category employees, such as law enforcement officers and firefighters, can reach the 80 percent limit with fewer years and full months…
Q. My husband is going to retire early next year. He will be 65. He has been paying for self plus family Blue Cross Blue Shield since he began working for the Defense Department (BSBC 105). I am a federal FERS retiree who will not be 65 until 2013. We heard somewhere that it is not a good idea to do single BCBS but continue with the family plan even though it comes out cheaper. We also have Tricare as a secondary as my husband is a retired military officer. Please advise as to the pros and cons of single…
Q. I am 60 years old and have over 22 years of service with the U.S. Postal Service under FERS. If I retired right now, would I be eligible for the Social Security supplement, or would I simply receive my annuity until age 62? A. Good news! Because you are 60 years old and have at least 20 years of service, you can retire on an immediate, unreduced annuity and receive the special retirement supplement.
Q. I’m 45. My wife died at 42 and was granted retirement from the government due to her diagnosis. Would I lose my annuity if I remarry now, even with three small children from that marriage? A. No, you wouldn’t lose your survivor annuity.
Q. I’m debating whether buying back my military time will be worth the cost, taking into consideration the changes to the FERS program. I have three years as a federal employee. I completed the deposit May 1, which gives me 23 years toward my retirement. However, I am unsure if I will fall under the current .8 FERS contribution rate or the new 2.3 contribution rate recently approved. I made my decision to buy back my time based on the old retirement system. Now I think I may have wasted my money. Can you provide some insight on where I…
Q. I worked for the Department of the Army as a civilian from 1966 to 1972. I do not remember if I took my retirement as a lump sum when I left. How do I find out if I am still in the program and what my payments would be if I went on retirement? A. Go to www.archives.gov/st-louis, click on Official Personnel Folders, and follow the directions for making an inquiry. If you did leave your contributions in the retirement fund, your annuity at age 62 would be calculated using the standard CSRS formula: 0.015 x your highest three…
Q. I received my Social Security statement today. I will turn 65 in June. The statement states I need to enroll in Medicare before my 65th birthday. I currently have health insurance through my employer and also through my husband as one of his retirement benefits. I do not expect to retire for some time, and my husband’s insurance is in effect until I die. Is it really necessary for me to enroll in Medicare? What problems might I have once I retire and want Medicare at that time? A. You don’t need to immediately enroll in Medicare Part A,…
Q. I understand that if I resign from federal service after the age of 43 with only 20 years of law enforcement service and five years of non-LEO service that I will lose the opportunity for immediate annuity; I will not be eligible for deferred annuity until my minimum retirement age, which I believe is 57; I will lose my special Social Security annuity; and I will lose my life and medical benefits. If I decide to leave federal service at age 43, would I receive my annuity at the 1.7 percent LEO rate? Then, when I reach age 57…
Q. I’m a CSRS Offset employee, 12½ years offset, 18½ years CSRS, and I have enough quarters earned for Social Security prior to entering federal service. I know that my benefits will be reduced by windfall elimination provision. Is there a maximum amount by which it can be reduced? Also, I know my CSRS pension will be reduced by the amount earned during my offset years. I know you divide the number of offset years by 40 and use this percentage to multiply against the amount earned during the offset years. But no one in Social Security, or anywhere else, can tell me how I…