Q: In a previous post, there was this question: I have 24 years combined service with the postal service and the military. If I retire next year, I will be 58 with 25 years of service. If I retire, would I be charged the 5 percent reduction in retirement for two years because I will be 60 in two years, or would I be penalized the 5 percent for 4 years, since I would not be 62. You replied: You’d be penalized 5 percent for every year (5/12 percent per month) that you are under age 62. My question is:…
Q: I have worked for the Veterans Affair Department for the past 16 years. My husband retired there, and has us on his FEHB health insurance plan. With open season coming up, we would like to take individual plans. Will this mean I have to work five years before retiring if I do, or is that only for life insurance? A: No, you won’t have to work five years. The only requirement is that you be enrolled in or covered by the FEHB program for the five consecutive years before you retire.
Q: As a CSRS civil servant, when I retire Social Security informs me I will receive approximately $588 per month at age 66. Most of my Social Security benefits were earned before civil service. I understand that once I retire, my Social Security will be cut to around $325 per month. My wife is eligible for Social Security and is projected to receive approximately $1,150 per month. Due to CSRS retirement, when my Social Security is reduced to around $325, can I have my Social Security increased up to half of my spouse’s $1,150? That would put it back to…
Q: I am a 57-year-old employee in the federal court system with five years of qualified service. If for some reason the judge I work for should decide to leave or be unable to work, my position would officially end. If I cannot find another position with the court, would I be able to continue my FEHB health care coverage after my job ends? A: You would be able to continue your FEHB coverage for up to 18 months under the Temporary Continuation of Coverage provision. You would be required to pay the whole premium, plus 2 percent to cover…
Q: If an individual retires using an approved VERA at age 53, three years shy of mandatory retirement age, with 28 years of service, will the individual begin collecting the special retirement supplement at age 56 even though retirement occured at age 53? A: Yes, if the individual’s minimum retirement age is 56.
Q: I retired Dec. 31, 2010. Before I left, a retirement counselor calculated my annuity at around $51,000 per year based on 36 years and 9 months service and 56 years of age. I left the government in 1991 and returned after 6 months. I withdrew money. The break in service was noted and I assumed the money I received was accounted for in the calculation of my annuity. After retiring, I received a notice from OPM that my annuity would be reduced if I didn’t pay back the money, plus interest. I contacted my former employer and they informed…
Q: The CPAC people at my organization are unhelpful and unknowledgable. My SF-50 does not reflect my 70 percent disability for veterans preference for a reduction in force. I have brought the paperwork in but was told I was not hired under veterans preference and don’t qualify because I retired with more than 20 years from the Army. They say if I had not retired, then I would be eligible, but refuse to give me the source of that rule. A: Based on what you’ve written, your agency is probably right. You’ll find the information needed to confirm or rebut…
Q: FERS is a retirement plan for my benefit. If I choose to forego or opt out of this “benefit,” regardless of whether officials stipulate an increase, is this possible? A: No. While you could forgo receipt of the benefit when you retire, you would have already paid for it through mandatory retirement deductions from your pay.
Q: I retired from government at 57 in August 2009 under CSRS with 30 years of service/DoD Excepted Service. Due to the economy, I would like to go back to “regular/full time” government employment. Can I re-apply for government jobs (knowing I will give up my annuity) for a full-time GS position and salary? A: There is no bar to you becoming a re-employed annuitant. However, you won’t have to give up your annuity; instead the salary of your new position will be reduced by the amount of your annuity.
Q: I plan to retire under CSRS within the next year at age 61 with 40-plus years of service. My husband is under PERS (Public Employee Retirement System) and will continue to work and retire with a PERS retirement annuity. Since he has his own retirement annuity through PERS, is it still a wise decision to leave him a partial survivor annuity? His health insurance will continue into retirement. A: As long as each of you has entitlement to continued health benefits coverage, it boils down to a comparison between what it would cost you to provide a survivor benefit…