Q: Nobody can seem to give me a straight answer to this question: I’m 59 years old and under the Federal Employees Retirement System, with 18 years of service. I had heart bypass surgery four years ago, and I’m now having complications. Because I have to have 20 years of service to qualify for a pension, it appears that my wife will not get my pension if I die before I hit the 20-year mark, which is 20 months away. However, I have reached the minimum retirement age, so if something happens soon, can my wife get my pension, less…
Browsing: Federal Employees Retirement System
Q: I am a federal employee covered under the Federal Employees Retirement System. I am also paying Social Security taxes. Would I receive 100 percent of my retirement from both systems given that I retired at the stipulated age? Will my Social Security pension change my FERS pension? A: If you retire on an immediate annuity after reaching the right combination of age and service (62 years old with five years of service, 60 with 20, or at your minimum retirement age with 30), you’ll receive an unreduced FERS annuity and, if you retire before age 62, the special retirement…
Q: When a person on Federal Employees Retirement System disability reaches age 62 and a recomputation is done, are the cost-of-living adjustments added to the “high-3” salary from the regular pay schedule or from the annuity COLA schedule? My high-3 was $47,116 when I became disabled in February 2004, and I turned 62 in June 2010. I live in the Dallas-Fort Worth area. I was under the impression that COLA was determined by the GS schedule and locality pay. A: When you reach age 62, the time your spent on the disability annuity roll will be added to your actual…
Q: Thank you for your recent article on key dates for retirement in the Oct. 4 edition of Federal Times. I have a question that wasn’t completely answered by the article. I am a veteran with more than 22 years of active-duty service. I joined the Food and Drug Administration two years ago, so I am under the Federal Employees Retirement System. I turned 51 this year and plan to retire sometime between age 62 and 65. I will not have 20 years of service at age 60, but I certainly will have five years of service at age 62.…
Q: I am a 39-year-old federal employee. I have nine years of Federal Employees Retirement System-covered federal service. I also bought back eight years of Army service time two years ago. I am thinking of resigning my position and starting a small business. Would it benefit me to wait three years and reach 20 years of creditable service? And if so, what benefits will I be eligible for at my minimum retirement age? A: You wouldn’t be eligible for any benefits when you reached your minimum retirement age. With fewer than 20 years of service, you’d be eligible for a…
Q: Is the Federal Employees Retirement System supplement (Social Security) sent to retirees as a separate payment, or is it combined with the annuity? A: The special retirement supplement is included in a retiree’s monthly annuity payment.
Q: I have been opting out of health care coverage because I am covered by my wife’s plan, but I plan to retire under the Federal Employees Retirement System in 2016 and want to take advantage of the post-retirement health care benefits. I will enroll during the upcoming open season, but I would like to know whether I need to enroll in self and family coverage in order to have coverage for my family after I retire, or if I can enroll in self coverage now and add family members after I retire. A: You can switch from self-only coverage to…
Q: From Oct. 28, 2009, to Dec. 31, 2013, half of of sick leave may be credited toward retirement time. Is that correct? If so, does a Federal Employees Retirement System employee who retires in that window receive payment for the other half of the unused sick leave, or is it just lost? Do FERS retirees receive full payment for unused vacation time? A: Any FERS employee retiring between now and Dec. 31, 2013, will only receive credit for half of his unused sick leave. The rest is lost. After that date, full credit will be given. All employees, whether…
Q: My husband has been working for the U.S. Postal Service for 26 years. He is 53 years old. He is entitled to Federal Employees Retirement System benefits at age 56, but he wants to retire now due to health issues. Can he do that? A: The only way he could retire before reaching his minimum retirement age would be if he was approved for disability retirement. To find out if he is eligible, he’d have to file for disability retirement and, at the same time, file for Social Security disability benefits. His personnel office can help him do that.
Q: I have been working for the government for the past seven years under the Federal Employees Retirement System and expect to retire in 13 years at age 67. Prior to my government service, I worked in the private sector and paid into the Social Security system for 35 years. Am I to assume that I will be receiving both a full FERS and Social Security benefit when I retire? A: Yes. You will receive your FERS annuity based on your years of FERS-covered employment and a Social Security benefit based on all your Social Security-covered employment, not just that under…