Q: I have been offered VERA and VSIP from my organization. I am 51 and have 28 years of service. Will I receive a Social Security supplement if I retire now or will I have to wait until I reach my MRA of 56? A: You will have to wait until you reach your MRA.
Q: I retired from the Navy in 2001 after 24 years of service. I went to work as a civil servant for the State Department in 2002 and will retire from there with 20 years of service at age 66. Will I be able to draw military, civil service and Social Security? A: Yes.
Q: I am a CSRS employee who plans to retire on my 55th birthday Sept. 22 with 33 years of service. Can I retire at the close of business Sept. 21 or would it be better to retire at the end of the month on Sept. 29 at close of business with a retirement date set at Sept. 30? Does it make a difference? Can I submit my retirement paperwork a year in advance or should I submit it later? A: The decision is yours to make. If you retire at the end of a pay period, you will get…
Q: I understand that FEHB, by law, may not pay the provider more than Medicare schedule after retirement. Is that correct? A: No. To find out what FEHB plans pay, read the section in your plan brochure titled “When you have the Original Medicare Plan (Part A, Part B, or both).”
Q: I’m eligible to retire in January but am considering working a little longer. With the current federal employment climate, is there any danger in delaying, or should I get out while I can? A: If I examined the entrails of a goat, I might be able to predict the future. Since I won’t, I can’t.
Q: I understand that funds in the CSRS voluntary contributions program can be withdrawn at any time prior to retirement. Does this action close the account prohibiting additional contributions? Or can withdrawals be made periodically for such purposes as rolling them into a Roth IRA? A: You cannot make a partial withdrawal.However, you may withdraw all of your voluntary contributions, plus accrued interest, at any time and for any reason. Once you have closed out your voluntary contributions account, it can never be re-opened again. Note: If you separate from the government and come back later in a CSRS-covered position,…
Q: I read with interest the question about annuity reduction, and found your response confusing. The question was: “I am a retired federal employee and I was receiving a monthly annuity of $4,200, but when I recently turned 62, OPM reduced my annuity to $3,550,and told me it was because I was eligible to collect Social Security benefits, even though I am not collecting Social Security benefits and do not plan to do so until I am at least 65. I did have two years of active military service, which I paid for while I was working, so that those…
Q: I am a federal firefighter working in a “secondary firefighter” position. My LES shows a FERS retirement code of “K.” What benefits/retirement does this code entail? I also heard that legislation is in the works to increase the mandatory primary firefighter retirement age from 57 to either 62 or 65? Is there any truth to that? A: “K” applies to anyone covered by FERS and FICA who will be entitled to regular retirement benefits. Any period of service which is classified as “K” isn’t covered service for law enforcement or firefighter retirement purposes. I don’t pay attention to legislation…
Q: I served as a military policeman on active duty in the Army from 1981 to 1983. I purchased this time for credit for my federal retirement. Can this time be used under the FERS law enforcement officer retirement? The MP duties meet the requirements and definition of a federal LEO under FERS. I believe CSRS does not credit this service. A: No. The law is clear. Only civilian law enforcement officer service counts when determining an employee’s eligibility to retire under the special provision and receive the more generous annuity computation. When you are eligible to retire as a…
Q: Will my spouse receive cost-of-living adjustments on her survivor annuity after my death? A: Yes.