Browsing: age

Q. Can I retire with 17 years of federal service at 59 years old? A. Yes, you could retire under the MRA+10 provision (minimum retirement age with at least 10 years of service). However, your annuity would be reduced by 5 percent for every year (5/12 percent per month) that you are under age 62. You could reduce or eliminate the age penalty by deferring the receipt of your annuity to a later date.

Q. I’m a FERS employee in a permanent, salaried position with the Air Force. I’m eligible for immediate retirement in December at age 60 with 28.5 years. With all the civilian cuts  in the Department of Defense (no official reduction in force yet), are there any safeguards that protect people this close to retirement so they don’t have to worry about losing their jobs (and well-deserved benefits)? All I’ve found is: 1) my seniority (for RIF purposes), and 2) CFR Title 5, Ch. 1, SubCh. A, Part 351.606 and Part 630.212. A. No, there aren’t any safeguards as such. However, because you would meet the…

Q. I am married, and I have retired from the Postal Service with 35 years of service under CSRS. I have 33 credits of Social Security. If I go back to work and earn seven more credits for SS, will I be able to collect SS when I reach my full retirement age of 66? And does my wife’s SS come into play anyway? A. If you earn 40 credits, you’ll be eligible for a Social Security benefit; however, because you are receiving an annuity from a retirement system where you didn’t pay Social Security taxes, that benefit will be…

Q. I retired with a minimum retirement age at 58, which incurred penalty percentage. At the age of 62, will I be given the full retirement benefit or will it always remain at the same penalized percentage? A. Since you mention a percentage penalty, I have to conclude that you retired under the MRA+10 provision, which reduced your annuity by 5 percent for every year you were under age 62. If so, the amount of your annuity won’t change when you hit age 62 because the age penalty is permanent. However, for the first time, you will be eligible to receive…

Q. My husband was employed by the federal government from June 1970 through July 1971and was covered under CSRS. He resigned and withdrew his CSRS contributions. He returned to work in the federal government in 1999 on a temporary appointment for a few months. In January 2000, he was appointed to a permanent federal position and began contributing to FERS. He left that permanent position in the fall of 2004. He left his FERS and Thrift Savings Plan contributions in the system. With the CSRS time and the FERS time, he is eligible for a deferred retirement now. He will have approximately…

Q. Under FERS (USPS), I plan to retire at 63, when my wife will be 55. I will opt for the 100 percent survivor annuity. Will my full annuity be decreased 10 percent, or will it be higher because of the age difference? A. The percentage reduction in your annuity to provide a survivor annuity for your wife would be the same, regardless of the difference in your ages.

Q. I’m covered under FERS for retirement and currently have 27 years and eight months of service (service computation date of Oct. 10, 1984) with over a year of sick leave accrued/unused. I understand that starting in 2014, unused sick leave for FERS employees will be credited “day for day” vs. “1/2 for day.” If I schedule retirement for January 2014, will my unused sick leave place me over the 30-year mark for service  and qualify me for the 1.1 percent of pay/year of service for the FERS annuity portion of the retirement package? A. No, it will not. Sick…

Q. When I am 47 years old, I will have 20 years of coverage under 6c law enforcement pay and 25 years of federal service (FERS). Will I be able to retire, or do I have to wait until I am 50? A. You will have to wait until you are 50. Only those with 25 years of covered service can retire at any age. Noncovered service can’t be used to meet that 25-year requirement.

Q. I am on involuntary recall as a reservist to active duty. I am also a federal employee who bought back my four years of active-duty time. Upon my return to my federal position, would I be allowed to sell back the time I was mobilized to active duty if I was getting differential of pay from my federal agency? I am also retiring from the reserve and would like to know if I could retire from my federal position with 15 years and not meet the  age requirement. A. Yes, you can make a deposit to get credit for…

Q: My son has recently been dropped from my health care because he reached the age of 22. I have heard that there might be an extension of health benefits for dependents. Has there been any decision on this? Also, are there any provisions of adding dependents after the open health benefits period, which is approaching. A: Extending the age at which dependents may be covered by the Federal Employees Health Benefits program would require a change in the law. Although such a change was proposed by the previous Office of Personnel Management director, Congress has so far has taken…

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