Q. I retired on disability in June 2011 because of multiple health issues. Is the annuity I receive now from my FERS contributions (made since 1991)? I never applied for FERS contributions.
Browsing: Civil Service Retirement and Disability fund
Q. What happens to annuity payments to retirees when no budget is passed by Congress? Where does the funding come from for payments of federal retirees’ monthly annuity? A. The money used to pay federal retiree annuities comes from the Civil Service Retirement and Disability Fund. According to the Office of Personnel Management, “Sequestration will not stop delivery of FERS and CSRS annuity checks. These monthly retirement benefits checks will continue to be issued.”
Q. With all of the financial instability in the Postal Service right now, I am concerned that I will be able to draw retirement under FERS. I have 13 years with the USPS now and do not foresee being able to get a full 20 years, so I will be taking a short retirement. If the USPS goes bankrupt or is bought in a privatization move, what happens to the money I have been putting into FERS for retirement? Would the FERS retirement money still be there should the USPS become insolvent or privatized? My father worked for Kaiser Aluminum…
Q. I retired from the Postal Service in 2006 under CSRS. With all of the turmoil surrounding the post office, is my pension still safe? A. The Postal Service has nothing to do with your annuity. Your connection to it ended on the day you retired. The payments you receive are made by the U.S. Treasury and taken from the Civil Service Retirement and Disability Fund.
Q. Can I buy back my reserve schooling and my summer camps that are active duty on my chronicle statement? On SF 50 block 31, if I buy back three years of my active duty from my reserves and I started in 2005 for the civilian federal government, is it supposed to be counted from 2002? It’s now 2012. Does it mean I have 10 years of federal time? I retired out of the Army Reserve with 20 years. Out of those 20 years, I have two DD-214s — one for basic and Advanced Individual Training and one for Afghanistan…
Q. I am buying back three years of active-duty military service for retirement and am wondering what the government does with the money and interest it gets from the buyback of service time. A. It goes into the Civil Service Retirement and Disability Fund.
Q. I am looking to retire by mid-December when I have reached my minimum retirement age and have 27 years FERS service (first week of November). I have paid the deposit for my three years military time. I thought that would enable me to retire on an immediate annuity (MRA with 30 years) and also qualify for the special retirement supplement. I am concerned by your response from Oct. 12, which indicated that the special retirement supplement is based solely on actual FERS service and does not include active-duty service for which a deposit has been made. Am I missing…
Q. I am a full-time FERS employee born in 1959 with a minimum retirement age of 56 but with 21 years with the Department of Transportation, two years in the Defense Department and six years in the military. What is the earliest age I would be able to retire given years of service? What would be the effects (reduction in benefits) of retiring at that minimum age? What is the minimum age I could retire without a reduction in benefits? A. The earliest age at which you could retire is when you reach your minimum retirement age — 56 — which…
Q. Why do former military (not retired military) have to pay a deposit back into the retirement fund, especially if they’re offset? I am a CSRS offset employee, and my retirement annuity will decrease when I turn 62, when my Social Security will kick in. A. Anyone first hired on or after Oct. 1, 1982, has the option of making a deposit for active-duty service to get retirement credit for that time. Anyone first hired before that can make the deposit or not. For anyone who doesn’t, retires before age 62 and is eligible for a Social Security benefit at…
Q. If my mother worked 44 years with the Defense Department and died without retiring, will my brother and I receive her pension since my father passed away three years ago? A. While you won’t be entitled to a pension, you would be eligible to receive the contributions she made to the Civil Service Retirement and Disability Fund. You’ll need to call the personnel office where your mother worked so that they can advise you on how to proceed.