Q: My husband retired after more than 30 years with the U.S. Postal Service with CSRS. Prior to working for the postal service, he paid 39 quarters into Social Security. When he reaches 62, can he receive Social Security benefits, or does he need to have had 40 quarters. He does have an opportunity to pay more into his Social Security fund through a farm income (material participation), but isn’t certain if that will allow him to receive Social Security benefits. A: To be eligible for a Social Security benefit, he would have to have 40 credits. To qualify for…
Q: My husband started receiving his CSRS federal annuity in 2005 at age 55 after 35 years as a federal employee. He now also receives a small military pension. He is 60. He has plenty of quarters of Social Security, and still works and contributes to Social Security. What is meant by 30 quarters of substantial earnings? How do we know if he fits that definition? Also, if he chooses to delay applying for Social Security but instead opts for my Social Security spousal benefit (I will be eligible in seven years with plenty of quarters but no federal service),…
Q: After 11 years working for the Defense Department, I left my government job in 2000 and worked in the private sector. I would like to know if am eligible to receive my pension benefits. If yes, how is my pension calculated? I am 57. When am I eligible to start receiving benefits? A: As a former FERS employee, if you left your contributions in the retirement fund, you would be eligible for an deferred annuity now under the MRA+10 provision of law (minimum retirement age with at least 10 but fewer than 30 years of service). However, your annuity…
Q: I have served in the Navy for seven years. Will I be able to carry over my time to the U.S. Postal Service? A: Yes, but only if you make a deposit to the civilian retirement system. The deposit equals 3 percent of your basic military pay while on active duty, excluding allowances or differentials you may have received. Interest charges are added if you delay making the deposit after you are hired.
Q: I retired from the military in 2000 after 20 years of service and started receiving a regular military retirement anunity (with a 30 percent disabled Veterans Administration offset). I didn’t buy back any military time for FERS. I also am approaching age 50 and have just past 10 years FERS service. What are my best options for retiring at age 55? Also, would it still be to my advantage to buy back my military time since I do have a 30 percent disability and that could increase in the future. A: You don’t have any options for retiring at…
Q: I have been approved for Social Security disability and have applied for FERS disability with only 20 months of service. I was just awarded SSD as of April and have not been approved as of yet for FERS. I am aware of the offset from SSD, but my question is, if I received $1,485 from SSD and my FERS is $1,277 gross the first year, then doesn’t this mean I am not going to receive anything monthly from FERS because of the offset? Why did I even bother, and now since I became disabled in October 2009 and permanently…
Q: I am an 1811 under FERS and have hit the pay cap when my AUO is included. I was told by somebody that when my retirement annuity is calculated, that the pay cap will not count against me, and that the high-3 salary will be calculated based on my grade/step/AUO without the pay-cap penalty. Is that true? A: Your annuity will be based on your basic pay, not what you would have received but for the pay cap. Looked at another way, only pay from which retirement contributions were taken will be used in the computation of your annuity.
Q: I am a 63-year-old disabled woman. I was married in 1970 and divorced in 1990. My ex-husband was a police officer and did not pay Social Security taxes while he worked in law enforcement. He did pay into Social Security for a few years before he began working for law enforcement, but his pension would be very small. He is 64 and is still living. In 2000, I married for a second time. My husband is 73 and also disabled. He did work and paid into Social Security, his benefit amount is $1,651.40. In 1965, I began working for…
Q: You answered a question with the following: “A: According to OPM, you only need to complete your 80-hour work week to get credit for any annual and sick leave earned during that pay period.” I cannot find this clarification at the OPM website. The “popular” opinion amongst co-workers is that you must be employed for the entire pay/leave period if you have a standard Monday-Friday work week in order to receive annual leave credit for that period. Specifically, if I retire on Dec. 31, 2010, with 80 hours worked, will I receive credit for pay period 26, or must…
Q: I will retire under FERS in 2015 at age 56 with 33 years of service. I will continue to carry my Federal Health Insurance. I am told that the government will not pay anything toward it like they currently do as a federal worker. Is that true? A: No. When you retire, you’ll pay the same premiums you would as an employee, unless you work for the Postal Service. Postal Service employees have a higher percentage of their premiums paid by the Postal Service. When they retire, they pay the same premiums as all other federal employees and retirees.