Q. I worked in the Postal Service from 1970 to 1977. I got back my retirement money, almost $5,000. I started working for the Veterans Affairs Department Medical Center in West Palm Beach, Fla., in 1994 and was put in the CSRS Offset program. As of May, I will have been here for 19 years. I paid back my two years of military time. I asked someone in personnel whether I should pay back my Postal Service time and she said no. She said that some of your money comes from the Offset and some from Social Security. She said…
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Q. I am a 62-year-old federal police officer. I have over 33 years of combined military and civilian time. I have an adjusted service computation date of Jan. 4, 1978, and I have FICA, CSRS (partial) and FERS offset. Promotions and upward mobility are few and far between in my job series, not to mention reaching a “high- 3.” I am contemplating retirement. However, since we no longer have a local human resources department to assist us, I am writing to ask if you can advise me. A. It doesn’t make any difference what level of income is used, the…
Q. I am a federal firefighter and a FERS employee. In 2022, I will have 21 years of creditable service and four years of bought-back active military time and be 48 years old. 1. Will I be able to retire under the provisions of 25 years of service at any age? 2. Will I receive the special category retirement percentages (1.7 x high-3 x creditable service, etc.)? 3. Will I receive the special retirement supplement until 62? 4. Will I not be able to withdraw any Thrift Savings Plan annuities until 62? A. Reg: 1. No, you won’t be able…
Q. I started employment with the Defense Department in September 1981 under CSRS. In 1995, I took advantage of a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay because my organization was downsizing. I also took a refund on my retirement account, which I tried to invest in buying a home and lost it. I was reinstated in the government in 2004 and came back as CSRS Offset. I also rolled my 401(k) from the job I had outside the government into the Thrift Savings Plan. I will be 65 on March 7, and was planning to retire in May. Because…
Q. I will be 65 in August. I retired from federal service 11 years ago and am employed as a contractor. I maintained my Federal Employees Health Benefits coverage (Care First). Will I lose this at age 65? A. No. As long as you continue to pay the premiums, you’ll be able to carry your coverage for as long as you live.
Q. I am 52 years old and have 12 years in a federal excepted service position. Due to my excepted service status, do I understand correctly that I have no bump or retreat rights in the event of a reduction in force? For what retirement benefits would I be eligible under these circumstances? A. If you left your contributions in the retirement fund, you would be eligible for a deferred annuity at age 62.
Q. I’m 58 and have worked under FERS for 20 years. If I take an early-out, do I get any penalties? What would my retirement benefit be? A. If you retired under the Voluntary Early Retirement Authority, you wouldn’t be subject to an age penalty. Your annuity would be computed using the standard formula: .01 x your high-3 x your years and full months of service.
Q. I turned 62 in 2006 October. Since I am gainfully employed, I did not file for deferred annuity until February 2012. To my surprise, my calculation is showing that my eligibility starts in October 2008 and paid arrears only up to October 2008. Secondly, it appears that cost-of-living adjustments are not considered in calculating arrears. Could you please advise me to understand and resolve this issue? A. According to the Office of Personnel Management, “For a deferred retirement, the commencing date is normally their 62nd birthday. The commencing date remains the same even if they don’t apply until a…
Q. 1. Can someone switch from Blue Cross/Blue Shield to Medicare Part B at age 71? 2. Should it be done? 3. If yes, how can it be done, and what are the costs? I am 71 and self-employed (since 2011), covered under my wife’s federal Blue Cross/Blue Shield plan. My wife has been retired for a few years and she also turned 71 in 2012. My wife was just operated for a brain tumor and is being scheduled for radiation therapy and chemotherapy. A. While your wife could disenroll from the Federal Employees Health Benefits program and both of…
Q. I am a foreign service officer and plan to retire at age 51 under FSPS (similar to FERS). FSOs may retire as early as age 50 if they have at least 20 years of service. I had understood that the Social Security earned income limit (currently $14,160) would be applied to my annuity supplement (like FERS supplement) after my first year of retirement. However, another FSO who is already retired told me that her tax accountant told her that income over the $14,160 earned income limit does not reduce the FSPS annuity supplement until the retiree reaches 56 years…