Q. Can you tell me how Executive Level IV pay, which limits the maximum pay of GS scale employees, is calculated? What is the formula? In searching, I can find the pay rate but not the rules. In other words, will GS-15 Step 9s and Step 10s who have hit that ceiling ever see that ceiling rise?
Browsing: calculation
Q. I am a FERS employee. I have 18 years of civil service and five years of Air Force service that I bought back for a total of 23 creditable years. I will reach my 30-year service mark long before my minimum retirement age of 57½. How is retirement calculated if I decide to go past the 30 years putting me at 38½ years of civil service and the MRA of 57½? I have heard that for each year over 30 you get additional percentage points.
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. I am a GS-14 federal retiree, having retired in October. I worked continuously (no break in service) for 34½ years. My period of employment was entirely competitive service. I was classified as exempt from the federal Fair Labor Standards Act. I am interested in knowing how I would be paid if I decided to apply as a rehired federal annuitant. Is there a table that you can point me to with a step-by-step decision tree as well as examples of how a salary would be determined? A. Nope. There aren’t any tables or decision trees. It would be up…
Q. I have 30 years of federal service: two years in CSRS, in which I did not get a retirement refund; four years in the Coast Guard, where I made a deposit for my time; and 24 years under FERS. When I retire under FERS at my minimum retirement age, 56, will the two years under CSRS be considered FERS and used toward my special retirement supplement calculation? A. Yes, because those two years were automatically converted to FERS time. If you had worked under CSRS for five or more years, they wouldn’t have been. Instead, you’d have a CSRS…
Q. I will be retiring next week from federal law enforcement. I live and work in the San Francisco area. I was initially provided with a calculation based on an average high-3 salary of $145,250 and was told I would receive a net of $6,050 per month. However, when I visited Employee Express this morning, I saw that the agency is now listing my high-3 average as $116,000 and my expected net monthly annuity payment would be around $5,000. I pulled my W-2s for the past three years and confirmed that my top average 3-year salary is $145,250. I’m awaiting…
Q. Having read the Office of Personnel Management’s Retirement Fact 13, I am still somewhat confused. If I retire at 62 with over 32 years of service under CSRS Offset, and the CSRS calculation comes out to $5,000 per month with a Social Security amount with federal earnings (Computation 2) being $500 per month, and the Social Security Administration indicates my Social Security benefit with federal service is $1,500 and $800 without federal service (Computation 1), what would my monthly annuity be from CSRS and what would be the benefit amount from Social Security? A. The closest you’ll be able…
Q. I am 51 years old, a retired active reservist with 20 years active duty and receiving my pension as of January 2011. I am also a federal employee under FERS and have paid back 14 years active duty for retirement credit. I plan on retiring from the federal government in 2014. Will I receive both pensions? How do I know which one pays more? A. Yes, you will receive both benefits without a reduction in either. Why you want to know which benefit pays more escapes me. You will get what you are entitled to under each retirement system.…
Q. I am a 48-year-old 1811 with 22 years of service as a special agent. Do I have any retirement options other than serving another two years with the FBI or in another agency as an 1811? If in the next year, I obtain a non-1811 or non-law-enforcement Senior Executive Service position with another agency, how will that affect my retirement? A. Since you have at least 20 years of covered service, you could take any other job and be able to retire when you reach your minimum retirement age, which would be 56. Those 20 years would be calculated…
Q. I entered active duty with the Army on Sept. 16, 2002, and got an honorable discharge for medical reasons on Nov. 5, 2003. Those dates were recorded on my DD-214. I joined the federal civilian workforce in May 2004, and that federal agency calculated my service computation date as March 12, 2003. I think this calculation is wrong. If it is, which documents should I reference to have this corrected? And whom should I contact for the correction, as I just transferred to another federal agency? A. You’ll find the definition of creditable service and the methodology used for…