Q: I am a CSRS Offset employee. I plan to retire in the next couple of years. However, I was told that OPM contacts the Social Security Administration for my benefit information once I turn 62. OPM will then deduct from my retirement all, or a portion of, what I would receive from Social Security. It is more beneficial for me to wait until age 66 to apply for Social Security, but OPM will make the deduction when I turn 62. Is there a certain percentage of the Social Security payment that OPM will use in computing the deduction? Why…
Q: I took early federal retirement under CSRS offset at age 50. Must I also take early Social Security at age 62? A: It’s up to you to decide if you want to apply for Social Security at age 62. Whether you do or don’t, at age 62 your CSRS annuity will be reduced (offset) by the amount of Social Security benefit you earned while covered by CSRS Offset.
Q: I’ve been in civil service for 16 months and I am currently in the process of buying back eight military years. What if I decide I do not want to stay in civil service more than another year or so. Am I throwing that money away? Should I stop my buyback? A: You are asking for an opinion, which I would be foolish to provide. What I can tell you is this: If you decide that you want to leave, you can get a refund of your retirement deductions and the deposit you made.
Q: I am a 62-year-old FERS employee. I am in a 27 percent locality pay area and have been for many years. There is discussion at my base about transferring our work to another base that has a much lower locality pay. I heard that if I transfer to the other base and then retire, my FERS annuity high-3 would be based on the lower locality pay. Since my pay is topped out, locality pay is the only thing that will change much. Is this “lower” high-3 calculation correct? A: Your annuity will be based on your highest three consecutive…
Q: I turned 62 in September. I have 29 years of service as a FERS employee. I’m thinking of retiring Jan 31. I work for the Federal Aviation Administration. Is there any possibility that the government will offer buyouts or early buyouts before I retire? Or is it a possibility that they will offer them later in the year? A: We have no information about potential early retirement opportunities or buyouts. Your best source of information about them will come from your own agency.
Q: There has been talk that there may be a COLA increase this year. If a person retires on Dec. 31, would they be eligible for the COLA? A: No. If you retired on Dec. 31, 2011, you’d receive 11/12ths of the 2013 COLA in your January 2013 annuity payment. You would have to retire no later than Nov. 30, 2011, to receive a full COLA adjustment in 2013.
Q: I am a Title-38 registered nurse for the Veterans Affairs Department. For more than 10 years, I have worked as evening-shift supervisor. My shift has been 3:30 p.m. until midnight. I carry an emergency pager, and I am not allowed to pass this pager off in order to take my 30 minute meal break. Am I entitled to overtime? A: Probably not. However, you’ll have to check with your personnel office to be sure.
Q: According to an OPM chart, the Annual Leave Year for 2012 begins on Jan. 1, 2012, and ends Jan. 12, 2013. If I am counting correctly, that is 27 pay periods. Is this correct? What will be the maximum number of annual leave hours an employee can accrue for Annual Leave Year 2012? A: As always, the maximum number of annual leave hours you can accrue is the amount you earn during all the pay periods in a leave year. However, with rare exception, the maximum number of hours a nonpostal employee can carry over to the next leave…
Q: In 2005, I retired from active service in the Army with 21 years. I have been working for six years as a FERS employee. I am considering buying back my military service. Does the the buyback for the post-56 military service affect my Service Computation Date for leave, reduction in force and retirement? A: Yes.
Q: I am a postal employee with 30 years of service at age 51. I recall the Postal Service offering years toward service as an incentive to retire. This happened in the 1990s. Do you know the history and details of such an offer? Does my memory serve me correctly, or am I just wishfully dreaming? A: You are wishfully dreaming. There is no provision in law — nor has there ever been — that would add years of service as an incentive to retire.