Q. I am in FERS with a CSRS component, and I’m planning to retire in April 2013 after more than 35 years of continuous government service. Prior to working for the Defense Department in 1975, I had worked a summer in the post office with all the taxes paid, including Social Security. Would I be able to pay a FERS deposit for the two or three months I’ve worked at the post office and get credit for the FERS retirement annuity? Below is the info from the ABC-C website: FERS deposit service is any period of Federal civilian service performed…
Browsing: Eligibility
Q. I had 15 years of federal service when I quit (not retired). Am I entitled to receive a FERS pension upon reaching retirement age? A. If you left your contributions in the retirement system, you can apply for a deferred annuity when you reach your minimum retirement age. MRAs range from 55 to 57 depending on your year of birth. However, your annuity will be reduced by 5 percent for every year (5/6 percent per month) that you are under age 62. You can reduce that penalty by waiting until you are older, and eliminate it entirely if you…
Q. I am turning 50 in two months, with over 23 years of continuous federal service. I want to resign to pursue other career options. If I elect a reduced pension, e.g. high-3 x .23 x reduction percentage, will I have the option to continue my Federal Employees Health Benefits? How is the reduction percentage calculated? Is it reduced 5 percent for each year under age 60 or age 62? A. Unless your agency offers you an opportunity to retire early via the Voluntary Early Retirement Authority, you wouldn’t meet the age and service requirements to retire. If it did,…
Q. I am eligible to retire at age 57 with eight years of CSRS, followed by approximately 24½ years of FERS service. I had employment in the private sector prior to my Postal Service career. The last printout I received from Social Security indicates “at age 62, you will earn approximately $…” This figure includes those years in private sector. How do I accurately figure the special supplement figure that I can anticipate receiving, since that is based solely on FERS employment years? Also, I am trying to determine what income I will have for the months immediately following retirement. …
Q. My retirement eligibility service computation date is June 6, 1985. I’m under FERS and am 48 years old. I’d like to take the Voluntary Early Retirement Authority this year if offered. If I retire at 48 under VERA and I postpone my FERS annuity until age 56 (my normal minimum retirement age), will the annuity amount be the same as it would have been if I actually retired at 56 rather than 48, or is it reduced? Is this amount changed if I take the FERS annuity at 56 rather than 48? If I postpone FERS annuity, will the…
Q. My mother and I are both Postal Service FERS employees. My mother is planning to retire in two years at age 67 with 15+ years of service. She has had some injuries and illness over the past few years, including an on-the-job injury that her supervisor intentionally mishandled to keep her from receiving workers’ compensation, which have depleted her sick leave and any annual leave reserve. She has very little reserve to handle any more such occurrences without using leave without pay. She is under the impression that she cannot retire with FERS or benefits if she uses any…
Q. I served in the Army for four years from June 28, 1976, to June 27, 1980. I have been employed by the Postal Service since Dec. 15, 1980, and fall under CSRS. My time in the military, along with some part-time work while employed by the USPS is the only employment in which I paid into Social Security. This adds up to about 28 quarters toward my Social Security eligibility. Since I did not buy back my military time and will not qualify for Social Security benefits when I retire before I reach age 62, will my military time…
Q. I am eligible to retire in July (CSRS). In the event I retired and subsequently went to work in private industry, would my pension be subject to any form of offset based on those earnings? A. No.
Q. I am a FERS employee and will be eligible to retire after Nov. 25. I have already received an estimate from human resources on pay. My sick leave balance will be about 400 hours at the time of my retirement. HR worked out a scenario with a retirement date of Dec. 31 and another with Jan. 31, 2013. Both showed my sick leave being worth only one month. I called and asked about the change on Jan. 1, 2013, of each 174 hours of sick leave being equal to one month of service, and that I should be able…
Q. At the age of 56 (born 1958), I will have 27 years of service, but the agency is moving to another location and I would like to retire at that time. Would I be eligible to receive FERS with 27 years at a reduced rate? If eligible, would I also receive the supplemental until Social Security starts at 62? A. If you receive an official notice of separation and aren’t offered an equivalent position within your commuting area, you’d be eligible for early retirement. As such, you’d receive an immediate annuity based on the standard formula (0.01 x high-3…