Q: I am a CSRS employee. I worked part time for some of my career and when my retirement was estimated recently I was given a proration of 93 percent. I asked if 93 percent was a permanent value or if it changes if I work longer. I was told that the proration number is permanent. I’ve worked 33 years and anticipate that I will work at least 38. Can you confirm that my proration will stay at 93 percent? A: No it doesn’t stay at 93 percent. Whoever told you that didn’t understand basic arithmetic. The proration is determined…
Q: I am 57 with 28 years of civilian service under FERS. I have been paying Social Security. If I retire under VERA, what is the formula used to figure out the supplemental Social Security or special annuity supplements and how would they be received? A: You can get a rough estimate of what your special retirement supplement would be by suing the following formula: Your most recent Social Security estimate x your total years of FERS service rounded up to the next higher year ÷ 40.
Q: I am a FERS employee, and am planning to retire at minimum age (56) with 30 years. Now I am finding out that I will be eight months short of having the 30 years, because three years of my employment was temporary service, back in the early 80s. Is it possible for me to only buy back one of those three temp years or do I have to buy all or nothing? A: Depending on when that service was performed, it may not be possible. However, if it is — and you’ll have to check with your personnel office…
Q: I am a civil service employee with 17 years of service, 10 during CSRS years and seven during CSRS Offset years. I have 30 years of other Social Security wages. My High-3 years are in the Offset years. I draw full Social Security while working. I began this at 66. I am trying to make a retirement decision but I cannot get a clear understanding of how the offset impacts me. I have gotten retirement projections but they do not include any adjustment for Social Security. It appears too good to be true that I will not experience a…
Q: I’m a 49-year-old federal employee with 28 years of service. I am anticipating there will be early out/buyouts coming soon. While I believe I can take either, given my 28 years of service, I would take a significant penalty for being younger than 55. Has there ever been an instance where if an agency becomes desperate to reduce the number of employees through an early out/buyout and does not meet the quota, would they accept an offer from an employee? For instance, I would gladly go if I did not get hit with the age penalty. If I made…
Q: I am a retired postal employee under CSRS who has a monthly premium taken from my annuity for Blue Cross Blue Shield for myself and my spouse. I retired in 2002 with 35 years of service and have been receiving my annuity for just over nine years. My wife just turned 61 in March and does not work. I also just hit 40 quarters and am now eligible for Social Security, although reduced by the windfall elimination provision. I will be 65 in October and am aware that I must apply for Medicare 3 a month before. Since Medicare…
Q: I would like to know what, if any, percentage I would be entitled to for 20 percent hearing loss. A: If your hearing loss is both job related and permanent, you can contact the Office of Workers Compensation, which can evaluate your situation. Your agency can tell you how to do that.
Q: With Medicare what will BCBS cover? If you cannot find a doctor who takes Medicare, will BCBS cover the doctor as it would have before signing up for Medicare? A: You’ll find the answers to your questions in your Blue Cross and Blue Shield Service Benefit Plan brochure. Read Section 4, Your costs for covered services, and, in particular, When you have the Original Medicare Plan (Part A, Part B, or both).
Q: Is there any talk of a buyout in FY12 for CSRS employees? I would think our employers would want us off the books so as to concentrate on FERS. A: No there isn’t any such talk, nor could there be unless the law is changed. Any offers of early retirement or buyouts would have to be made to all employees — CSRS and FERS alike — in the organizations, geographic areas, occupations and grades where reductions are needed.
Q: I am considering buying back my military time. I am a federal employee under FERS and retired from the Naval Reserves in January 2010. If I buy back my time (which is about eight years of active duty), will it affect my military retirement at age 60? Also, what is the true advantage of buying back my time? A: If you make a deposit for your period(s) of active duty service, those years will be included when determining your total years of civilian service and in your annuity computation. For most FERS employees that would mean an increase of…