Q. I need clarification regarding the blog “2012 outlook eases slightly with COLA’s return” and the FERS annuity supplement. If I retire under FERS with 6c law enforcement coverage at age 51 and my minimum retirement age is 57, at what time will I be subject to the earnings test and my supplement reduced if my earnings exceed the permitted amount? Your comments about “two exceptions” make it sound as though those under 6c are not subject to the earnings test at all, before or after the minimum retirement age. Yet your last sentence, “In either case, when you reach…
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Q. I retired from active duty in 2005. I made a service deposit to buy my academy time. When I reach minimum retirement age+10 next month, I will have 10 years and five months of creditable service (six years and six months since hired, plus three years and 11 months purchased service), more than 240 hours of annual leave and more than 600 hours of sick leave. I’ve gotten a formal Office of Personnel Management retirement estimate to verify my understanding that I can do a MRA+10 retirement this year. I initially used Tricare for my health insurance, however, to…
Q. Both my spouse and I are federal employees and our Federal Employees Health Benefits coverage is under my name (self and family). If my spouse is approved for a Voluntary Early Retirement Authority, can we switch to have coverage under her name? She will have had coverage under my policy for five years, but it is not specifically under her name. I ask since that would give me the option to leave federal service at some point in the future and still have FEHB coverage under her policy? A. You could do that during the annual open season.
Q. I was approved for OPM disability retirement and Social Security. I understand that I can elect Medicare Part B coverage and pay an additional premium. I already am covered under the Federal Employees Health Benefits plan and pay that premium. I also have been advised that I will pay a penalty for every year that I do not sign up for Medicare Part B while eligible. Is that so in every case? Should I pay both premiums? I am 52 years old. A. Yes, there is a penalty for every year you don’t sign up for Part B. However,…
Q. I am nearing retirement from federal government and have not signed up for the Federal Employees Health Benefits program in more than 10 years. At the time I stopped my medical insurance coverage, who would have the paperwork indicating that the stoppage was suspended or completely removed with my enrollment? A. As an employee, you could only have enrolled in the FEHB program or canceled your enrollment. You could not have suspended it. A copy of that cancellation would have been provided to you at the time and a copy placed in your official personnel folder.
Q. What are the advantages and disadvantages to having a full spouse survivor benefit versus a partial survivor benefit? When selecting a full or partial spouse survivor benefit upon CSRS retirement, how does that affect our Blue Cross/Blue Shield health coverage in retirement? Do we pay more out-of-pocket health care costs when selecting a partial spouse survivor benefit versus a full benefit? A. A full survivor benefit, which you are required to provide by law unless your spouse agrees to a lesser amount or none at all, will provide him or her with an annuity that is 55 percent of…
Q. I hope to retire under CSRS at age 60. Will Medicare deductions continue to be taken from my CSRS pension checks when I retire? If so, will the deductions end when I turn 65 and am eligible to invoke Medicare coverage? A. Deductions for Medicare are only taken from earnings from wages or self-employment, not annuities.
Q. I’m a retired federal employee. When I turn 60 and become eligible for Tricare coverage, can I suspend my Federal Employees Health Benefits program coverage then, or do I have to wait until open season to suspend the coverage? A. Because you are a retiree, you can suspend your coverage to use Tricare at any time. Just call OPM’s Retirement Information Office at (888) 767-6738 to get the suspension form.
Q. Both my husband and I are Postal Service employees. I have been continuously covered under his Federal Employees Health Benefits family plan for more than five years. If I were to retire soon, will I be eligible to continue my health insurance coverage, or will this only be allowed if I am under my own individual plan for five years prior to retirement? A retirement video seems to indicate that the health coverage would have to be under my name for at least five years prior to retirement. A. Relax. Employees only need to be enrolled in or covered…
Q: Your recent article on the Personal Advisor in the Nov. 2 issue of Federal Times described retirement benefits. You note that in 1983, “Those already covered by [Civil Service Retirement System] had the option of electing full coverage under both CSRS and Social Security …” However, your description doesn’t seem to recognize the Windfall Elimination Provision, such that those who elected to be covered by both get the severe reduction on their Social Security from the WEP. Is my understanding correct, or is something on WEP changed? I understand that I will get the WEP reduction on my Social…