Q: If I meet the requirements for retirement (I am 65 with 20 years), and I get caught in my agency downsizing, will I get a chance to retire or will I lose my retirement benefits and have to leave the federal government? A: Yes, you will be able to retire.
Q: I am 55 and I have 25 years of creditable service. I am in CSRS Offset. What would be the penalty if I chose to retire now? A: You can’t retire now. The earliest you could be retire is when you have 30 years of service.
Q: I’m 52 and started civilian service in March 1983. I never paid back my military service time. With interest, I owe more than $9,000. Is it worth paying this to get four more years added to my CSRS retirement? I’d like to think I’ll retire at age 55. A: I don’t know if it would be worth it to you. I do know that having four years added to your length of service would increase your annuity by 8 percent. You’ll have to do the math and make a decision.
Q: I will be 55 next year and have 17 years in service. I would like to know about early retirement and how to go about it. A: Early retirement opportunities are offered by an agency to meet its needs, There isn’t anything you can do to cause an agency to offer you one. However, all that is academic. You don’t have the age and service needed to take early retirement: age 50 with 20 years of service or any age with 25. Further, you aren’t yet eligible to retire under the MRA+10 provision (minimum retirement age with at least…
Q: I will have about 1,100 hours of sick leave. Can I retire about five months earlier than expected with this? A: No. First you have to meet the age and service requirements to retire. After that, if you are a CSRS retiree, you’ll get credit for any unused sick leave and have it used in the computation of your annuity. If you are a FERS retiree, you’ll only get credit for half of your unused sick leave, unless you retire on or after January 1, 2014.
Q: I am 50 with 30 years of service. Will I be penalized if I take the early buyout at age 50 or at any age before my MRA of 56 years? If I draw my retirement at age 50, will I be entitled to receive my FERS supplement at age 56? A: Yes, as a FERS employee you would be eligible to retire without the age penalty. That’s because you are at least 50 and have at least 20 years of service. As for the special retirement supplement, you’d be eligible to receive that when you reach your minimum…
Q: I live in Minneapolis but for the past few years have worked in Madison, Wis. I rent a room during the week and return home to Minneapolis on weekends. My agency is going through a reduction in force. Will my Interagency Career Transition Assistance Plan eligibility apply to my home area of Minneapolis, my office location in Madison, or both? A: Your position of record will determine your competitive area for RIF purposes. If your permanent location is Madison, that’s where your eligibility will be. If it’s in Minneapolis and you are either on temporary duty or some other…
Q: I left a Federal Reserve bank for a position in the federal government. Public Law No: 106-168 permits former Federal Reserve bank employees to receive credit in FERS if a former bank worker becomes a federal employee. Am I eligible to receive service credit for retirement in FERS for my years of service at a Federal Reserve bank? Or must my service have been with the Federal Reserve Board of Governors to qualify? A: You would have had to be an employee of the Federal Reserve Board of Governors to qualify.
Q: I am a letter carrier who is eligible for retirement. What is the maximum amount of annual leave I can receive as a lump-sum payment? A: You can receive a lump-sum payment for a maximum of 440 hours.
Q: I was employed by the Postal Service from 1956 to 1968. In 1986, I was re-employed by the postal service. Am I included in the CSRS Offset? I wonder because I was re-employed after 1983, when anyone hired then went into FERS. A: Because you had at least five years of CSRS service when you were re-employed by the federal government, you were automatically placed in CSRS Offset.