Browsing: Eligibility

FAA pension

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Q. I worked for the FAA from June 1969 and left after I married to raise my family in September 1975. I will be 62 in September. Am I eligible  for any FAA pension? A. If you left your retirement contributions in the retirement fund when you left, you’d be entitled to an annuity at age 62. To get that benefit, go to http://www.opm.gov/forms/pdf_fill/opm1496a.pdf, download a copy of the form, fill it out, and send it to OPM.

Retirement eligibility

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Q. I am 50 years old and have over 30 years of service (bought back my military academy and military time) and am in FERS. My minimum retirement age is 56. Is there a penalty for retiring now (or, more specifically, in November, when I turn 51) in that I will not have reached my MRA?

Buyout eligibility

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Q. I’m retiring at the end of this month. If there were to be an announcement of a buyout before 5 p.m. of my last day, would I qualify? I’m 62 with 29 years in the Postal Service. A. Highly unlikely because the purpose of a buyout is to encourage employees to leave who wouldn’t do so without a financial incentive. Since you have already made the decision to retire and are on the verge of departing, your agency would have no reason to either offer or approve a buyout for you.

VSIP and VERA

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Q. I am eligible to retire October 2014 under FERS at age 56 (my minimum retirement age). Are you allowed to take both the Voluntary Early Retirement Authority and Voluntary Separation Incentive Pay? If not, which would be smarter to take?

Eligibility for benefits

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Q. I am 64 with 9.5 years under FERS, but it was split up after 4.7, then a few years later I returned and now have 4.8 years. Could I retire on an immediate retirement and be able to take my Federal Employees Health Benefits along with me? I know if there was an early-out/buyout offer, I could. I was given a service computation date of Feb. 4, 2004. A. You could retire on an immediate annuity because you are at least age 62 and have at least five years of service. And you could carry your FEHB coverage into…

Age 62 or 61?

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Q. I am FERS-covered and eligible to retire this year with 20 years but at age 61. Can I separate (or resign) first at age 61 this year and postpone the start of my annuity to 2014, when I am 62 to get the higher 1.1 annuity (instead of 1.0 at 61)? A. No, you can’t. The only FERS retirees who are eligible to get the higher multiplier are those who retire on an immediate annuity at age 62 or later with at least 20 years of service.

Early retirement eligibility

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Q. I am 56 years old with 22 years of service in the Defense Department. Am I eligible to retire early? A. You have the age and service needed for early retirement. However, you can only retire if your agency offers you an opportunity to do so.

Early retirement eligibility and NAF time

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Q. I am 54 and have 24 years with the federal government. I will hit my 25-year mark in November, when I also turn 55. If early-outs are offered, will I be eligible to retire being that I won’t hit 25 years until after October? Also, prior to working for the federal government, I worked for five years with nonappropriated funds. I was originally told by human resources that those years would count toward my service computation. This year, I requested a retirement estimate from HR, and they say those five years don’t count. Is this correct? A. If you…

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