Q. I am an employee with the U.S. Postal Inspection Service. I am not an inspector, but I am under their pay scale, ISLE (Inspection Service Law Enforcement). It is basically the same as the GS scale. I am an ISLE-14 and a Civil Service Retirement System employee. Is there any chance that the postmaster general and USPS will offer all CSRS employees an early-out? A. Under current law, neither the Postal Service nor any other agency of government can offer all CSRS employees an opportunity to retire early.
Browsing: Early retirement
Q. I am a Civil Service Retirement System postal employee. I am eligible for optional retirement in December 2011. Are there any incentives available, or are they only for early retirement? A. If your agency offered you an opportunity to retire early or a buyout, you would be free to accept it.
Q: In a previous post, there was this question: I have 24 years combined service with the postal service and the military. If I retire next year, I will be 58 with 25 years of service. If I retire, would I be charged the 5 percent reduction in retirement for two years because I will be 60 in two years, or would I be penalized the 5 percent for 4 years, since I would not be 62. You replied: You’d be penalized 5 percent for every year (5/12 percent per month) that you are under age 62. My question is:…
Q: If an individual retires using an approved VERA at age 53, three years shy of mandatory retirement age, with 28 years of service, will the individual begin collecting the special retirement supplement at age 56 even though retirement occured at age 53? A: Yes, if the individual’s minimum retirement age is 56.
Q. I am 50 with 20 years of civil service. I have mother who is 87 and now needs my care. I was wondering if I have to quit civil service to tend to her or is there a hardship retirement program I can use. A. No, there isn’t.
Q. I am 57-year-old FERS employee with 26 years of federal service. Am I eligible to retire? A. Yes, but only under the MRA+10 provision (minimum retirement age plus at least 10 years of service). However, if you do that, your annuity will be reduced by 5 percent for every year you are under age 62. You could, of course, reduce or eliminate the age penalty when you retire by postponing the receipt of your annuity to a later date.
Q. I worked from 1980 to 2000 with 18 years under CSRS and two years under FERS. Will I be able to begin receiving my retirement annuity at age 60 since I worked for 20 years? A. If you had 20 years of creditable service and did not take a refund of your retirement deductions, you will be eligible for a deferred annuity at age 60.
Q. I am a FERS employee with 25 years of service (including military service) and 54 years old. I was told that our agency may be offering a buyout and wanted to know if I would be eligible to apply for it. I was going to apply for early retirement because of the health and age of my parents, but was told to hold off applying for it because of the rumored buyout. A. If you are offered a buyout, you are free to accept it and take early retirement. If you aren’t offered a buyout, but instead only offered…
Q: If an individual retires using an approved VERA three years below MRA at age 53 with 28 years of service, will SRS collection begin at 56 even though he/she retired at age 53? A: You would begin receiving the special retirement supplement when you reach your minimum retirement age.
Q: My husband is a federal employee working for OPM under FERS. We cannot find any reference to long-term disability insurance. Is LTD standard with FERS? If so, is there a link to the policy description/handbook? Also, I heard that the program only kicks in after a year of disability and falls to 40 percent in second and subsequent years. Is there some sort of supplemental insurance that is recommended? A: The federal government doesn’t provide short- or long-term disability insurance to its employees. What it does provide is disability retirement to anyone who qualifies. To find out who can…