Q: I worked for a federally funded work project in 1975 and 1976 before coming to the Postal Service. I believe it was called CETA. Can that time be bought back or applied to my CSRS retirement? A: No.
Q: I plan to retire from the Postal Service on May 31. I have 600 hours of annual leave and will receive a nice terminal leave check. Is there a way to have the terminal leave check deposited into my TSP account instead of coming directly to me after taxes have been withheld? A: No, there isn’t. Lump-sum payments for unused annual leave aren’t made until after an employee has retired, and retirees can’t make deposits to the Thrift Savings Plan.
Q: Section 4 of Public law 109-313 allows some rehired annuitants in acquisition-related positions to be rehired at full salary with no offset to their annuity. The law includes a sunset provision that this authority will end on Dec. 31, 2011. Has it been extended? Is it expected to be extended? How can I keep track of its status? A: No, this provision hasn’t been extended, and we haven’t heard that any effort is being made to do so. To keep track of any proposed legislation, you have to rely on a variety of sources: the media, your congressional relations…
Q: I am a federal retiree receiving an annuity of $1,344 per month. My husband receives Social Security of $1,810 per month. How much Social Security would I receive upon his death based on these figures? I am aware of the government offset provision. I figured I would receive about $905 per month. $1,344 – 2/3rds = about $877. Subtracting $877 from $1,810 leaves about $905. Am I on the right track? Whenever I called Social Security (when you can get someone on the phone) I keep getting conflicting answers. A: You are on the right track. Because you are…
Q: With respect to the employee’s portion of contributions to the Civil Service Retirement System (CSRS), how are excess contributions (i.e., contributions for creditable service beyond 41 years and 11 months of creditable service) handled? It would seem logical that once an employee covered under the CSRS worked beyond 41 years and 11 months and has “capped out” at 80 percent on the service component of the Civil Service Retirement System Annuity computation, there should be no further employee deductions withheld and tendered into that system. A: By law contributions continue to be taken from an employee’s pay even after…
Q: Can you explain the differences between the Windfall Elimination Provision and the Government Pension Offset? A: The windfall elimination provision reduces (but doesn’t eliminate) the Social Security benefit of anyone who receives an annuity from a retirement system, such as CSRS, where he didn’t pay Social Security taxes and has fewer than 30 years of substantial earnings under Social Security. The government pension offset reduces the Social Security spousal or survivor benefit of anyone who is receiving an annuity — in whole or part — from a retirement system, such as CSRS (but not CSRS Offset), where he didn’t…
Q: If a person is 61 with 30 1/2 years of service (CSRS), can they still be offered a VSIP? If they have already submitted paperwork for the retirement process, could it still be offered? A: No. The purpose of the Voluntary Separation Incentive Program is to provide a financial incentive that will encourage employees to leave who would otherwise not do so. Of course, you could pull back your retirement application and wait to see if you’d be offered a VSIP in the future.
Q: My current position requires an extensive amount of overtime. I was told recently that my overtime may count toward my retirement. Is this true? If so, how is that applied toward my retirement? A: You were misinformed. Overtime is never included when determining a High-3, only pay from which retirement deductions are taken. To see which pay categories are included and excluded from basic pay, go to www.opm.gov/retire/pubs/handbook/C030.pdf and scroll down to Section 30A1.1-2.
Q: I recently retired from AD USAF after 20 years, and immediately was hired as a WG-2 on base. I read the rules for leave accrual rates, but I am unsure if I meet the first condition (retired from service during a Congressional declared war) or not as I served during the Gulf War(s) and the conflict in Afghanistan. I receive four hours per pay period. Do I qualify and for how much time? A: To find an answer to your question, go to www.opm.gov/staffingportal/vetguide.asp and scroll down to Service Credit for Leave Accrual and Retirement.
Q: The House passed a bill that would cut fed pay and benefits. What exactly does this mean in terms of the annuity calculation? What does this 5 percent increase on the backs of federal workers have to do with saving the government anything? Will Congress as a body of federal employees be exempt from the increase? A: The House passed a resolution containing the Republican majority’s proposals for the 2012 budget. As far as I can tell, it contains nothing that would affect the way annuities are calculated. It does, however, propose that the share that everyone covered either…