Browsing: Federal Employees Retirement System

Q. I’m new to the federal system and would like to asses my options. 1. I have spent 14 years and about 10 months on active duty in the Armhy plus some reserve time. I understand reserve time is not computed on military buyback. What is the maximum years that I can sell back? 2. I was hired by ICE at the age of 38. How does that factor in for retirement purposes — mandatory retirement age for an ICE covered agent? 3. If I sell my military time, do my leave and sick hours change to match those of…

Q. I have 20 years of military time and get a monthly check. I also have worked 19 years for civil service under FERS. Will I still be able to get Social Security at age 62 without losing some portion of my retirement check? A. Neither your military retired pay or FERS annuity would be reduced if you applied for a Social Security benefit at age 62. Note: If you are still employed when you reach age 62, you’d be subject to the Social Security earnings limit, which would reduce your Social Security benefit by $2 for every $3 you…

Q. Several years ago, I was granted 16 months of leave without pay for a medical condition. While I was on LWOP, I made no contributions to FERS so I assume I should notify my Human Resources Office to buy back this time. Is this correct? If so, is there a specific form to complete? I recently bought back 25 months of active-duty military service so I assume LWOP would be handled in a similar manner. A. An aggregate nonpay status of six months in any calendar year is creditable service. Coverage continues at no cost to you while in…

Q. I was placed on a FERS disability retirement by the FAA after suffering a stroke in 2005. The FAA revoked my class II medical, otherwise I would be able to return to my previous position. All my work for the FAA was conducted in either Kansas or Utah. In 2008, I obtained a job with a private company in N.J. In 2011, I was terminated and I requested unemployment benefits. The New Jersey unemployment office is stating I am not entitled to unemployment benefits due to my FERS retirement. Is this true? A. Because this isn’t a question about…

Q: I am a 60-year-old CSRS retiree enrolled in an FEHB family plan. My wife is several years younger than me. If I enroll in Medicare at age 65, what happens to my wife’s FEHB coverage? Do I need to continue my FEHB plan even after I enroll in Medicare to insure she is covered? Would I be better off forgoing Medicare and just relying on my FEHB plan? A: In order for your wife to continue her coverage, you’ll need to maintain your FEHB enrollment in the self and family option. While you will be eligible for Medicare Part…

Q. At age 53, I’m considering my first federal career. My DD214’s add up to more than seven years of active-duty service, (three years of post-9/11 active duty). I do not want to work 20 years to obtain a federal retirement so am considering buying federal seniority with my active-duty time. Can I buy the seven years and retire in 13 years? Is 20 years the minimum for federal retirement? What if I work for only 10 years? Is there any retirement given the fact I’ll be 63 or 65 at 12 years? If I buy seniority, will this effect…

Q: I’m an employee under the Federal Employees Retirement System with a hire date of Jan. 19, 1999. I plan on retiring the day after my 60th birthday in 2015 under the minimum retirement age plus-10 provision with 16 years of service. Will I have to take the 10 percent penalty for being two years younger than age 62, or does being age 60 somehow eliminate it? A: The 5 percent-per-year penalty will apply for every year (5/12ths of a percent per month) that you are under age 62. If you had 20 years of service and retired at age…

Q: With the impending increase to our Federal Employees Retirement System contributions, can anyone opt out of FERS? A: There isn’t an impending increase in FERS contributions, only proposals. Whether anyone would be able to opt out if such a change were made would depend on the wording in the law. However, such a provision would be highly unlikely.

Q: I’m in a law enforcement officer position and was wondering if the Federal Employees Retirement System supplement is also paid to new retirees while on interim payments, or are the interim payments only partial payments of the FERS basic annuity? A: The special retirement supplement is only paid when you case has been finalized and you are receiving your full annuity. You’ll receive catch-up payments of your special retirement supplement along with any additional annuity you are owed because you were in interim pay.

Q: I am under the Federal Employees Retirement System and have been employed by the Environmental Protection Agency for 26 years. I am a GS-12/6, and am 48 1/2 years old. I would like to know exactly when can I retire and any other related details. A: The earliest you could retire is when you reach your minimum retirement age, which in your case is 56. Because you will have more than 30 years of service at that time, you’ll be able to retire immediately and receive an unreduced annuity.

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