Q: Could you please tell me what year or when the law went into effect that states that overtime is not included when calculating a high-3? A: To the best of my knowledge, overtime has never been considered to be a part of base pay when computing an employee’s high-3.
Q: I retired from the federal government on 12/31/2010 (at age 74) under the CSRS annuity plan. For many years, I also received Social Security benefits. I know there is an “offset” provision and my SS benefit will be reduced substantially. My question is: Will OPM notify SSA of my retirement automatically? Or do I have to tell SSA of my retirement? A: You don’t have to do anything. OPM and the Social Security Administration routinely do computer matches to identify retirees whose work histories require that their Social Security benefits be reduced.
Q: I had eight years of active duty after being honorably discharged from the Army in 2001. In 2008, I got a federal government job. I began to buy back my military time. I am leaving the federal government after years, but before I finish buying my time back. What are my options for the money? I do plan on coming back to the government some day. Can I just leave the money in there or will it be automatically refunded? Can I continue to contribute to it even though I am no longer a federal employee? A: When you…
Q: I have spent 11 years on active duty and I immediately went to work for the federal government under the Federal Employees Retirement System. At this time I have a total of 32 years (22 years federal services and 10 years active duty). If I buy back my military time, may I retire at age 57 without any penalty? If not, what is my earliest retirement age without penalties under FERS? A: Yes, if you make a deposit for your years of active duty service, you’ll be able to retire at age 57. And there won’t be any penalties.
Q: I have five years, four months active duty that I believe I can buy back toward a federal retirement. I also have eight years as an engineer/paramedic for Marin County. Can I buy back any of my county time as a firefighter? A: No, you can’t.
Q: I have 31 years of credible federal service and am 51 years of age. I would like to take an early retirement. I have been told I can take a “deferred retirement” until 2010 (56 years of age) without penalty. However, I cannot locate any formal OPM documents that clearly state this is accurate. Your thoughts would be greatly appreciated. A: The information you are looking for will be found at www.opm.gov/retire/pubs/handbook/C045.pdf. Assuming that you are covered by FERS, you would be able to receive a deferred retirement at your minimum retirement age. If you are covered by CSRS, you wouldn’t be eligible…
Q: I know that the FEHB rules changed regarding coverage of dependents up to the age of 26, but what about the FEDVIP rules (vision and dental)? A: As specified in law, the change in age applied only to the Federal Employees Health Benefits program.
Q: I am currently receiving military retirement pay for service with the U.S. Navy from 1960 to 1980. I began drawing my full Social Security pay at 65 years and 10 months. I began working under CSRS in 1980 and am planning on retiring in 2013 or 2014. My question: Since all of my time for my Social Security was from my military service and not CSRS service, will I be under either the GPO or WEP provisions when I do retire from CSRS? Can I receive all three of my retirements without any penalties of GPO or WEP? A:…
Q: Is there a time limit on when you have to hold that salary rate for it to be counted for a good year? Here is an example: If I get awarded a QSI (quality step increase) in the month of October and hold that rate for three months before my next step goes into affect in January, will that rate I received in October for three months be counted as a good high-3 figure? A: Your question is based on a false premise. A high-3 is calculated by adding up the base salary you received for each pay period…
Q: I am a 57-year-old FERS annuitant who retired in 2010 with 33 years of service. I am considering going back to work part-time for my former agency (Dept of Energy) in a position that will allow me to receive both my annuity and the full salary of the new position. In addition to my FERS annuity, I am also receiving a special annuity supplement of about $12,000 per year. Normally, if I become employed and earn a salary I will lose $1 of the special annuity supplement for every $2 I earn over the IRS limit of about $14,100 per…