Q. As a CSRS retiree, what is the last day I can retire and still qualify for the full retiree cost-of-living adjustment increase? A. If you retired no later than Dec. 3, you would receive a full cost-of-living adjustment in your January 2014 annuity payment.
Browsing: CSRS
Q. I am about to retire under CSRS, under which I have worked since 1977. I am now receiving a disability pension from the Veterans Affairs Department for a service-connected disability. I was on active duty from 1969 to 1973. In the past, I had received my disability pension from the military. I have been told that my records show that my military time will count toward my CSRS retirement, but I have to pay for my military time. I see that in the Effect of Military Retired Pay section of OPM Form 1515, for my military service to count…
Q. I am a CSRS employee with 30 years of service at age 51. How would my retirement funds be affected if I accepted an early buyout? And how would it affect my TSP? A. Your annuity would be reduced by 1/6 of 1 percent per month (2 percent per year) that you were under age 55.
Q. I’m a CSRS employee with 34 years of service, but I am only 54. Thus I am not eligible for optional retirement. My agency has been talking about a possible VERA/VSIP, which would probably require leaving by the end of December at the latest. I would still be about six months too young for a normal optional retirement. I am fully aware of the 2 percent per year penalty for taking a VERA at 55. Is that penalty always rounded up to the full year, or at just six months early, would it be pro-rated to 1 percent? While…
Q. I am 62 and a U.S. Postal Service retiree. I retired five years ago after 38 years of service. I receive a CSRS pension. During the time I worked at the Post Office, I also worked some part-time jobs, for which I contributed to Social Security. After I retired, I continued to work these part-time jobs, trying to get enough quarters to be able to collect a small Social Security pension when I reached age 62. In April, I turned 62 and applied for Social Security. The Social Security representative told me that I was eligible to collect $184…
Q. I am a city carrier with 31 years under CSRS. How do I get a retirement package? A. You can get what you need from your servicing personnel office.
Q. I have not paid back my military deposit of approximately $7,000 and am not sure if it would be wise to. I am 59 and have 34 years in CSRS without my service time. I also do not have enough credits with Social Security to receive benefits. Any suggestions would be greatly appreciated. A. Because you were first hired before Oct. 1, 1982, you’ll get credit for that period of active-duty service in your annuity computation even if you don’t make a deposit. If you are retired and won’t be eligible for a Social Security benefit at age 62,…
Q. I am retired from the USPS (under CSRS) and am turning 65 this year. Can I keep my FEHB insurance? Or must I go on Medicare? Thank you for your time. A. You can — and should — continue your FEHB insurance. You should also sign up for Medicare Part A. It’s free, because you already paid for it through payroll deductions while you were working. Further, your FEHB coverage and Part A work together to reduce your out-of-pocket expenses. Whether you enroll in Part B, for which you’d pay the premiums, is up to you.
Q. I am receiving 40 percent disability from VA. I was wounded in Vietnam, and I plan to retire from CSRS. Will I receive less annuity from my agency since I am receiving disability pay? A. No.
Q. I am a CSRS employee with more than 41 years and four month of service (computation date April 1971) so will most likely be maxed out by March. I was thinking of retiring Jan. 3 to take advantage of a lump-sum payout of my unused annual leave. Thing is, I also have about 3,500 hours of sick leave. Since I won’t need to use the sick leave to hit my maximum 80 percent, what happens to it? Since it will add an additional one year to my length of service, would my annuity increase above the 80 percent? A.…