Q. I have read that “If there is no spouse, former spouse, eligible child or some other insurable interest named to receive a survivor annuity upon the death of the FERS annuitant, then a lump sum of the employee’s contributions to the FERS Retirement and Disability Fund will be paid to the individual(s) entitled under the order of precedence.” The order of precedence is: designated beneficiary, widow/widower, children, parents, etc. Does this mean, if I haven’t named someone to receive my FERS annuity, upon my death, anything not paid to me while I was retired will be paid in a…
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Q. I entered federal service Sept. 6, 1977, under CSRS. I transferred to FERS, effective Jan. 3, 1988. I resigned from federal service April 30, 2001. (I did not withdraw any of my retirement contributions.) I was born in 1952. The FERS website states, “If you completed at least 10 years but less than 30 years of creditable service before you left federal service, your annuity will be reduced if it begins before age 62. The only exception to this is if you had at least 20 years of service and your annuity begins when you reach age 60.” Does…
Q. I resigned federal employment after 21 years. A few years later, I was advised by the Office of Personnel Management that I was eligible for the reduced benefits of minimum 10-year early retirement (FERS). However, they made no mention that if I wait until age 60 (another three years), I may receive unreduced (full) benefits. As I understand the regulations, I am eligible for unreduced benefits at age 60, with at least 20 years of service, even if I resigned before reaching the minimum retirement age. Is this correct? Do I need to appeal the decision of OPM regarding…
Q. I am considering reinstatement. I was with the Treasury Department for seven years and nine months, and left in January 1981 as Grade 12, Step 1. I received a refund of retirement contributions of approximately $6,000 when I left. How can I approximate what my pension will be if I return to the Treasury Department at a Grade 13, Step 1 and work for 5½ years. How would this calculation work if I wanted to calculate the pension at different dates? At the time I left, I was not required to make Social Security withholdings. I have made Social…
Q. I am currently a 6c AIA who is getting ready to start Title 10 contingency orders stateside. I realize that Title 10 orders for a contingency are not a factor for five years of military leave, but how will this affect my retirement? Will I still be able to retire at the minimum 20 years, and will I have to make contributions to the FERS retirement? (I realize I will have to buy back the military years for a higher retirement percentage.) A. If you are called to active duty and on completion of that assignment return to a…
Q. I am a CSRS retiree. I need four quarters to be able to collect Social Security when I reach 62. Is it beneficial to me not to get those quarters and apply for my husband’s Social Security when I am eligible? He max outs his contributions every year. A. If you get the additional credits needed to receive a Social Security benefit, that benefit would be affected by the windfall elimination provision. The WEP reduces but doesn’t eliminate the Social Security benefit of anyone who receives an annuity from a retirement system where he didn’t pay Social Security taxes.…
Q. I am considering taking a State Department full-time temporary excepted appointment NTE 13 months with no re-employment benefits. I am a career-status employee with the federal government. State requires a four-day break between my current position and beginning service with them. How does this affect my retirement benefits and my career status? Will I not be considered career status when I apply for new jobs after my temporary position comes to an end? A. When you separate from the government, if you are covered by the Federal Employees Health Benefits and/or Federal Employees Group Life Insurance programs, you will…
Q. I’m debating whether buying back my military time will be worth the cost, taking into consideration the changes to the FERS program. I have three years as a federal employee. I completed the deposit May 1, which gives me 23 years toward my retirement. However, I am unsure if I will fall under the current .8 FERS contribution rate or the new 2.3 contribution rate recently approved. I made my decision to buy back my time based on the old retirement system. Now I think I may have wasted my money. Can you provide some insight on where I…
Q. I am unmarried and under CSRS Offset. I have no children. What happens to my CSRS pension if I am deceased and have no spouse or dependent children? Do the benefits die with me? A. Your retirement contributions will be refunded and made a part of your estate.
Q. My husband has bought back his time in the military and now, after three years with the Department of Veterans Affairs, he might have to leave before getting his five years needed to retire. Is there any reason why he would not be refunded the money he paid for those years? A. If your husband resigns from the government before being eligible to retire, he can request a refund of all his retirement contributions, including the active-duty service deposit.