Q: I will retire soon and will choose a lifetime annuity, not to include my husband, with survivor benefits. Can I still carry him on my FEHB coverage? A: You can continue to include him under the self and family option of your FEHB plan. However, if you were to change to self-only or die, he would lose that coverage unless he is a federal employee or retiree who would be eligible to continue that coverage on his own.
Q: Do my nine years of active-duty Air Force service that I bought back count toward computing my FERS retirement date from the U.S. Postal Service or do they only count toward my retirement-pay percentage? I thought when I bought my military time back it counted toward my retirement-eligibility date. A: Since you made a deposit for your active-duty service, it will be used in determining your length of civilian service, which will affect your annuity computation date and your annual leave category, and in your annuity computation when you retire.
Q: I served as an Air National Guard full-time WG-12 technician from March 1993 until January 2003 when I became medically ineligible to serve in the military capacity that is a prerequisite to holding a job as a civil service technician. I performed the same duties when doing military time as I did as a FERS employee but was given an OPM disability retirement because I lost my military status. I learned today that there is a special retirement supplement to disability payments for law enforcement and military reserve technicians which is intended to bridge the income gap until Social…
Q: I have been a federal employee for 32 years in CSRS Offset, and this is the first I have heard of this program. Can you please explain the program? A: The Voluntary Contributions Program is open to CSRS and CSRS Offset employees. It allows them to make contributions to the Civil Service Retirement and Disability Fund and earn tax-deferred interest. They have the option at any time of asking for a refund of all contributions and interest or, at retirement, using the money to buy additional annuity. For more information go to www.opm.gov/retire/pubs/pamphlets/forms/RI83-10.pdf.
Q: I have Medicare, Tricare and Blue Cross/Blue Shield coverage and was told that I should drop my BCBS and I would have the same coverage without the extra expense. What say you? A: While I’m not in a position to advise you, I can tell you that many retirees with Tricare and Medicare Parts A & B have suspended – not dropped – their FEHB coverage and are satisfied with the results. By suspending your coverage, you protect your right to re-enroll if you lose Tricare coverage.
Q: Can I be charged offsets on Social Security and CSRS? A: Yes. Your CSRS annuity will be offset by the amount of Social Security benefit you earned while employed under CSRS Offset. Your Social Security benefit will be reduced if you have fewer that 30 years of substantial earnings under Social Security.
Q: I am a federal employee with just more than 29 years of service. I am 56 and I am under CSRS. If offered, I will take the early-out in December. What will happen to my sick leave? A: Any unused sick leave hours will be added to any hours of actual work that don’t add up to a full month. Any additional months created will be added to your actual service and used in the computation of your annuity. For retirement purposes, those months are 174 hours long. Any hours left over will be dropped.
Q: I have been employed as an 1811 criminal investigator since May 3, 1982. I am 55 and I am still employed in this capacity. However, with mandatory retirement looming in less than two years, I am interviewing for other jobs, some of which are not 1811 positions. Based on my time in grade, I am vested in the federal law enforcement retirement system, and I maintained my CSRS retirement plan. If offered a non-1811 position, would it be more beneficial to retire and take a job? Or, because of my time in grade as an 1811, does that matter?…
Q: As of June 21 I completed 44 years of government service. All my retirement contributions are in CSRS. Tentatively, I am planning on retiring July 3, 2012, unless circumstances change, then I would need to revise my retirement date accordingly. Would it be to my benefit to work another six months in 2012, or retire at the end of 2011? A: While I can’t offer you advice, I can provide you with some information that may help you make a decision. When you accumulated 41 years and 11 months of creditable service, you reached the maximum allowable earned annuity…
Q: I’m retired military and am making a deposit to get credit for my 20 years of active duty service. I’ve been told that at the same time I make the deposit I also have to waive my military retired pay. Is that correct? I thought I could wait to waive my retired pay until I retired. A: According to OPM, an employee doesn’t have to waive his or her military retired pay at the time he makes a deposit. Instead, he or she “must send the waiver request directly to the Defense Finance and Accounting Office at least 90 days but not later than 60 days before…