In my June 6 column, I talked about the importance of planning ahead if you want your retirement application to have a better chance of speeding through the process and getting you on the annuity roll. However, what you do to smooth your way into retirement is only part of the process. In this column, I’ll talk about how your agency processes your retirement application. It’s your human resources office’s responsibility to review your retirement application to make sure you are eligible to retire on the date you have set and determine whether you are eligible to continue your health…
Q: What is the status of VERA/VSIP being offered in September and December 2011? Has it been approved? When will we know if we are eligible to receive the incentive and retire? A: We haven’t heard a thing. Nor are we likely to hear anything before you do.
Q: I know there is a military time buy back process so military time can apply toward civilian retirement. If I have federal time, can I apply that toward a military retirement if I join the military? Or does it only go one way? A: No, you can’t apply your federal civilian time toward a military retirement. It only goes one way.
Q: I am sure that you have answered this question before — it seems so basic to me — but I could not find a comparable Q&A on your site. Here goes: I have 11 years, 2 months, 20 days of active Air Force service, no Guard or reserve (retired from Guard but I believe it’s irrelevant; no active time other than for training). I have been tentatively hired by DECA as a GS 4 (awaiting clearance paperwork). I don’t know anything about federal retirement plans, as I am not in one yet. How will the “buyback” of my time…
Q: I am a retired federal employee and I am collecting FERS retirement. My husband retired from the Navy reserves. He took out the survivor benefit plan last year. He will be retired from the federal government in two or three years with 37 years of service in CSRS. Will my military SBP or CSRS annuity be reduced because I have both? A: No.
Q: I have eight years of work under FERS and will be 62 in a few years. I have left the civil service and understand that age 62 is the minimum age I can receive a deferred annuity. Is there any increase in the annuity if I wait a year or more after age 62 before filing? A: No. Your annuity will be based on your high-3 and years and full months of service on the day you left government.
Q: I am a FERS transfer eligible to retire in October 2012. I will have 25 years of substantial earnings under Social Security at that time. Can I retire from federal service at that time and seek employment elsewhere to earn enough to count as substantial earnings to avoid the windfall elimination provision? A: If you retire before age 62, the windfall elimination provision will be applied at age 62. Therefore, if you have 30 years of substantial earnings when that happens, you’ll be exempt from the WEP. On the other hand, if you retire at age 62 or later, the WEP…
Q: I am a 53-year-old federal employee/military veteran. I am receiving a CSRS retirement annuity based on a job-related disability. How does one apply for an increase in the annuity based on the severity of the disability? A: CSRS disability retirement annuities are calculated in the same way as they are for regular retirees. Therefore, they cannot be increased or decreased based on the severity of a disability.
Q: I am contemplating retiring under a Voluntary Early Retirement Authority (VERA)/Voluntary Separation Incentive Payment (VSIP) authorization that expires Sep. 30, 2011. I realize I will take a two year, one month penalty. My question is, as a CSRS retiree, if I return to employment outside of the federal government, what is the maximum percentage of earnings I can make without affecting my annuity? A: Whether you get a job in or out of the federal government, there wouldn’t be any limit on the amount of money you can earn after you retire. However, if you returned to work for…
Q: I plan on retiring at the end of the year under the CSRS. My question is: How much notification am I required to give the agency about my retirement plans? A: There are no rules or regulations about how far in advance you need to notify your agency that you’re going to retire. However, you need to give your personnel office enough time to review your retirement application and make sure that everything is in order. Further, you need to let your supervisor know what you are planning so he or she can rearrange work assignments and, if necessary, begin the…