Q. I previously worked for the federal government (CSRS, full time) from 1966 to 1969. I quit civil service for college, and then went active duty from 1976 to 1979. The private sector did not work for me, so I went back to federal civil service in May 1983 (CSRS, full time). My service computation date showed at March 1977, I plan to retire in March 2012 (I would be 65 years old) and I will not be eligible for Social Security benefits. Would I have to make a redeposit of my military service (1976-79) in order for those three…
Q. Does the Federal Employees Health Benefits program offer a Medicare Advantage Plan? A. No.
Q. I am 64 with 3½ years in the Federal Employees Retirement System. I realize I need five years in FERS to qualify for a FERS pension. I bought back two years of military service time. Do these two years, added to the 3½ years in FERS, allow me to retire with a FERS pension? A. No, they don’t. You need to have five years of actual FERS service to be eligible for an annuity.
Q. Why doesn’t the Federal Employees Health Benefits program offer a self-plus-one option for health insurance like the Federal Employees Dental and Vision Insurance Program? The cost should not be the same for one plus a spouse as it is for a whole family. I would rather pay two self-only premiums than that for self plus family. The difference between self only and self plus family is staggering. A. The FEHB law doesn’t provide for that option, and serious consideration has never been given to changing it.
Q. Is there such a thing as a buyout for Civil Service Retirement System employees who are already eligible to retire? A. When an agency offers a buyout, it does so to encourage employees to retire who would otherwise not do so. It confines those offers to individuals in organizations, occupations and grade levels where the need for staff reductions is greatest. The fact that someone is already eligible to retire would have no effect on his ability to accept a buyout.
Q. I am A CSRS employee who is retiring Dec. 31 and wish to elect a partial annuity for my husband. He’s a retired civil service employee and receives his own pension. We’ve decided that about 25 percent of my annuity would be sufficient for him. However, on the Application for Immediate Retirement Form, Section F, it seems that I can only elect 55 percent of a fixed dollar amount. If I do this, say 55 percent of 50,000 per year ($27,500), would this amount still be indexed for future cost-of-living adjustments, or would it always remain at $27,500? I’ve asked the retirement…
Q. I am a Civil Service Retirement System postal employee. I am eligible for optional retirement in December 2011. Are there any incentives available, or are they only for early retirement? A. If your agency offered you an opportunity to retire early or a buyout, you would be free to accept it.
Q. I am getting ready to retire at the end of December after 37 years with the Civil Service Retirement System. In 1986, the Office of Personnel Management converted to a new system and I had a rather large balance in CSRS contributions. We noticed that our balance went to zero when the new pay stubs were issued. They told us not to worry back then and the money would be added back in when we retired. My current LES shows again a large amount of contributions. I asked the human resources office about a document that combined both balances,…
Q. I am in the Federal Employees Retirement System and will retire Dec. 31. I will be 62 when I retire, with 41 years of service. Because Social Security is part of my retirement, will my Social Security checks be reduced if I work and earn more than the max allowed? A. Yes. Your Social Security benefit would be reduced by $1 for every $2 you earn through wages or self-employment until the year in which you reach your full retirement age. At that point, the reduction would be $1 for every $3 you earn. There is no limit to…
Q. What is the best month and day to retire? I should have 240 hours at the end of December, which could be carried over to the next year. If I retire in December, would I not only receive the 240 hours but 208 for the next year. If I retire Jan. 1 of the next year, would I receive the 240 in the hole plus the 208 I would accrue for the new year? I am trying to get 400 hours. How can I do this? I know it takes a while for the retirement benefits to arrive and I…