Browsing: annuity computation

Disability compensation and annuity

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Q. I’m a 100 percent disabled veteran, effective April 2008, with war-incurred injuries. In 2010, I applied for disability retirement while working for the Postal Service with 14 years of service and did not buy back my military time. The Office of Personnel Management calculated my high-3 on my postal salary alone. Should they not have calculated my Veterans Affairs Department compensation income from 2008, since it was a war-incurred injury that led me to retire? Is there a statue that protects vets who have war-incurred injuries? And does OPM allow special compensation for this matter?

Unused sick leave

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Q. I plan to retire after 20 years of service at age 64 in 2015. I understand that I will be paid for unused annual leave. Will I be paid for unused sick leave?

Reduced hours and high-3

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Q. I am a full-time Postal Service employee covered under CSRS. I have more than 30 years of service (active Postal Service + military buyback). I am still too young to retire, and will probably work another seven to 10 years. Recently, I changed to a nontraditional full-time position (NTFT) of 35 hours per week. Can you tell me how this reduction in weekly hours will effect the calculation of my high-3 in regards to my retirement? How far out from my retirement date would I need to change back to a full-time (40 hours per week) position to regain…

Post-1956 deposit

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Q. The following statement was made in an answer to a question ask about post-1956 deposit: “You can’t get a refund of the deposit you made for your active-duty service. What’s done is done. If you retire at age 62 and aren’t eligible for a Social Security benefit at that time, you’ll never have to worry about losing those years and having your annuity recomputed.” I will retire at age 60 and have paid in a post-1956 deposit. I am in CSRS and will have 41 years and eight months with the post-56 deposit (eight years, six months of military…

Military buyback

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Q. I will have 39 years of total service as of May 12, of which four years are military service and 35 years civilian service. I have my 40 quarters paid in. Will I have to buy back my military time to achieve my 80 percent at retirement (41 years, 11 months)? A. Yes, you will. Otherwise, when you retire, those years of active-duty service for which you haven’t made a deposit will be eliminated and your annuity recomputed without them. That will happen at age 62, if you are retired, or when you retire if it’s after that.

Leftover sick leave

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Q. FERS annuity computation includes only whole years and whole months worked in calculating longevity service time. But unless you retire on an exact date — completing a whole year or a whole month worked on the specific date of retirement — you will be left with some workdays not credited for longevity service time purposes. But can these few uncredited days — not amounting to a whole month — be added to your sick leave balance and have those non-whole month days PLUS your sick leave hour balance combined and added to your total service time for longevity? A.…

Deferred retirement eligibility

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Q. I have 26 years of federal service under FERS. I am 51 years old.  I would like to leave federal government.  Am I eligible to apply for a deferred retirement? If so, how is my penalty calculated? A. Because you have at least 20 years of service, you could resign and apply for a deferred retirement at age 60. Your annuity would be calculated using the standard formula: 0.01 x your high-3 x your years and full months of service. Your high-3 would be determined by your highest three consecutive years of average salary on the day you left.

Military buyback

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Q. I receive military retirement pay for 21 years of service in the Air Force. I started working as a federal civilian employee (GS 9 step 1) two months ago. I have not bought back my military time. I am 41. If I continue to work as a federal civilian for another 20 years and buy back my military service, which would give me 40 years total, does my combined retirement/annuity add up to more than if I wouldn’t buy back my military time, keeping my separate military retirement check and my separate FERS annuity check? A. You are asking…

Unused sick leave

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Q. I’ve worked for the U.S. government as a Department of Defense Dependents Schools teacher for 40 years. I am under CSRS and have 230 days of accumulated sick leave. What would this be converted to should I elect to retire this year at age 65? Also can I, should I wish, work as a substitute teacher once retired, even should I be granted Voluntary Separation Incentive Pay? A. Because unused sick leave is added to hours of actual service that weren’t included in the initial annuity computation, you’ll have to do the arithmetic. Go to www.opm.gov/retirement-services/publications-forms/csrsfers-handbook/c050.pdf and scroll to…

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