Q. I am retired military with 27 years in. Since that time, I have been a civil servant and am coming up on my 10-year anniversary under FERS. My service computation date is Aug. 10, 2003. I am planning to resign from my civil position Dec. 31, prior to my 62nd birthday. (I was born Dec. 11, 1952.) I plan to ask for a lump-sum check for my unused accrued leave. But it looks like I will not gain anything for having been such a healthy individual and that my many days of sick leave will simply go wasted. Is…
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Q. I received a conditional offer of employment in the fall. Processing has been continuous. My actual start date will be this year. Will I fall under FERS, based on the offer date, or FERS-RAE, based on the start date? A. To the best of my knowledge, your retirement contribution rate will be based on the day you are employed, not the date on which the offer was made.
Q. I am 54 years old and was employed with a federal agency for 17 years from 1979 to 1996. Upon resignation to enter the private sector, I withdrew 100 percent of my CSRS contributions. If I return to full-time federal employment this year, do I have the option of buying back the creditable service of 17 years for the same amount that I withdrew in 1996? Secondly, would I be able to continue with CSRS rather than FERS upon re-employment? Would I be eligible to retire after eight more years of federal employment service? A. If you returned to…
Q. I’m in an upper management position with the Transportation Security Administration for the past 10 years. Recently, I have heard that my immediate supervisor is proposing my removal from federal service. If I get removed, will I lose my federal pension or will I be able to collect it when I reach retirement age? A. If you don’t take a refund of your retirement contributions, you could apply for a deferred annuity at age 62.
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…
Q. This year’s tax (2012) is the first I will file as a FERS retiree. I understand a portion of my retiree pay is a return of contributions and is tax-free. How do I report this? Will it be identified on my 1099? A. The 1099 form that the Office of Personnel Management sends you will show the amount of your retirement contributions. Plug that number into the worksheet you’ll find in Internal Revenue Service Publication 721, which you can access at www.irs.gov.
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 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 worked for the Defense Department from 1976 to 1985 under CSRS. I withdrew my contributions at that time but find in talking with an Internal Revenue Service agent about another subject that she could see a deferred annuity. Could this be from sick leave that had accrued that I would not get paid out for, or could it be from the employer match of my contributions? A. Because you withdrew your retirement contributions when you left government, you wouldn’t be eligible for any retirement benefit.
Q. How can I find out the total value of my CSRS pension? Is there a methodology or interactive tool online where I enter my annual earnings throughout my career and a value is produced? I am a few years away from retirement and, from my annual personal benefits statement, I see my estimated monthly annuity based on options for when I retire and what survivor benefit I choose. But what is the total value today: past contributions + interest? My situation: totally CSRS (no FERS), no break in service, no extra contributions or withdrawals, just a straight 30 years…