Q. I am a FERS employee who is 58 1/2 years old with 27 years of service. Can I retire now and defer my retirement annuity to age 60 without a penalty? A: You can retire now and, because you have at least 20 years of service, postpone the receipt of your annuity until you reach age 60. That way you can avoid the 5 percent per year age reduction penalty.
Q. I left the Postal Service in February 2006 and took my annuity at 55 years and 10 months old. I just read that FERS employees could convert 50 percent of their sick leave to compute annuity, I had 180 hours of sick leave balance; can I still get credit for this or would I have had to reach a certain age, and/or time in service, before leaving to get credit for this time? A: No, you cannot get credit for that unused sick leave. The change in law allowing FERS employees to get credit for it was prospective only,…
Q. I am a FS medical technologist serving the Department of State overseas. I am slated for mandatory retirement in 2012 and am considering retiring overseas (West Africa) somewhere. Are there any benefits for retiring overseas and how can one really find out about the job market for a person interested in taking their time and talents and trying to make a decent living overseas? A. This set of questions falls outside the boundaries of our forum.
Q. The Defense Authorization Act was signed in October 2009. When does this act go into effect and do current FERS employees retiring in 2010 have this option? A. The provision allowing FERS retirees to get credit for unused sick leave applies to those employees retiring on or after Oct. 28, 2009, the date the law was enacted.
Q: Because I’m a retiree who isn’t receiving Social Security benefits, I didn’t get the $250 included in the Economic Stimulus tax credit package. I’ve heard that I can get it when I file my income tax for 2009. How do I do that? A: You’ll need to complete Schedule M and then enter the dollar figure you come up with on line 14 on either line 63 of form 1040, line 40 of form 1040A or line 60 of form 1040NR.
Q. I’m a FERS employee who is planing to retire in December of this year. When is the best day, Dec 30, 31 or in January 2011? A: As a FERS employee, you have to retire no later than the last day of a month to be on the annuity roll in the following month. If you retire at the end of business on Dec. 31, you will have satisfied that requirement and also completed a pay period. Therefore, you would be entitled to any annual and sick leave you earned during that pay period, and paid for any annual…
Q. I am a federal employee with both CSRS and FERS pension plans. If I die before I retire, will my husband collect my pension? Will my husband will be covered under a federal health care plan? A: Yes, he will receive a survivor annuity based on your service. He will be covered under the Federal Employees Health Benefits program if he was covered by it on the date you die. If he wasn’t covered under the FEHB, he won’t be able to enroll in it as a survivor.
Q. I retired with a Voluntary Early Retirement Authority on Dec. 31, 2008; am I entitled to one-half of my unused sick leave? I heard that if the bill passed within one year of your retirement date you would be entitled, and, if so, how do I go about receiving compensation? A: You are misinformed. The provision allowing FERS retirees to get credit for unused sick leave applied only to those employees retiring on or after the date the law was enacted, which occurred on Oct. 28, 2009.
Q. I am a FERS employee who, prior to having five years of current life insurance through the federal government, will be required to file for FERS disability retirement. Does the period of Leave Without Pay qualify for purposes of continuing accrual toward the five-year mandatory period? I will enter into LWOP, awaiting the OPM decision, about five months prior to having the requisite five-year period. A. Yes, periods of LWOP up to 12 months count toward meeting the five-year requirement. Further, that coverage is provided at no cost to you or your agency.
Q. I am considering retirement from the Postal Service after 35 years (includes military time) and am would like to become a TSA agent. Would I be able to collect my CSRS pension and work FERS if hired? A. You’d need to check with the Transportation Security Administration to confirm that you would be able to receive both, without a reduction in either.