Q. I have been working for the same government entity for close to 40 years. I recently turned 60 and discovered unexpectedly that I am now paying practically twice as much for my insurance every two weeks. I elected five times my salary plus benefits for my family. I am told that I should have dropped this insurance a long time ago and bought coverage through private insurance. I am looking into getting insured but am afraid my premiums are going to be kind of high due to my health. Is it wise to drop FEGLI and seek coverage elsewhere?…
Browsing: FEGLI
Q. I am a FERS employee with 31 years of creditable service but will not reach my minimum retirement age (56) until May 2013. I am faced with possible termination but plan to resign. I understand that deferred retirees are not eligible for supplemental annuity, nor are they eligible to enroll in life insurance and health benefits. What if I am terminated rather than resigning? Will I be eligible for immediate annuity plus supplement and eligible to enroll in health benefits? Or I will only be eligible for deferred retirement in 2013 after reaching my MRA? A. It won’t make any difference to…
Q. I retired from federal service in 1989. At that time, I maintained my Federal Employees’ Group Life Insurance coverage. After all those years, how can I ascertain if I still have it? A. Assuming you are talking about your basic insurance, unless you elected to maintain a higher level of coverage (for which you’d still be paying), it will have declined in value at a rate of 2 percent per month beginning at age 65 until it reached 25 percent of its face value on the day you retired. It will stay at that level until you pass on,…
Q. I am considering taking a State Department full-time temporary excepted appointment NTE 13 months with no re-employment benefits. I am a career-status employee with the federal government. State requires a four-day break between my current position and beginning service with them. How does this affect my retirement benefits and my career status? Will I not be considered career status when I apply for new jobs after my temporary position comes to an end? A. When you separate from the government, if you are covered by the Federal Employees Health Benefits and/or Federal Employees Group Life Insurance programs, you will…
Q. I want to resign from my civil service position. I believe the work environment is hostile and want to leave before I have even fewer options. I have accumulated 24 years of retirement time and am 18 months short of my minimum retirement age. I have also been reading about the many different ways one can leave (other than retiring), or be forced to leave federal service under Chapter 31, and it is very confusing and intimidating. So I have a couple of questions: 1. Is resignation immediate, meaning, can I walk in, say “I resign” and be gone…
Q. I understand that if I resign from federal service after the age of 43 with only 20 years of law enforcement service and five years of non-LEO service that I will lose the opportunity for immediate annuity; I will not be eligible for deferred annuity until my minimum retirement age, which I believe is 57; I will lose my special Social Security annuity; and I will lose my life and medical benefits. If I decide to leave federal service at age 43, would I receive my annuity at the 1.7 percent LEO rate? Then, when I reach age 57…
Q. What are my options for leaving government service now without an early-out? I am looking to relocate and have been applying for every job I see at government agencies in my new desired location with no luck. I have 23 years of continuous service, and I’m 52 years old. Can I just leave, then relocate on my own to where I want to move and try to get back into the government when there? What exactly do I give up if I do this — besides the salary? A. If you resign from the government, leave your money in…
Q. My father was a civilian employee for the Army Corps of Engineers. He passed away recently. He was single for many years but remarried three years ago. Since he married, am I still entitled to any benefit since his death? If so, what benefit am I entitled to since I am his only child? A. You aren’t entitled to anything, unless he named you as the beneficiary of any Federal Employees Group Life Insurance policy he still had when he died.
Q. I am retiring June 30. My spouse is also a federal employee. If we decide not to elect survivor benefits for her from my retirement, what would she receive if I were to pass away? Health care is not affected, as she will receive my military Tricare and she has her own federal plan? A. If there were any unexpended retirement contributions in your account when you died, she’d be able to receive those in a lump sum. And the proceeds from any Federal Employees’ Group Life Insurance you might have would go to her, unless you had already assigned them to someone else.
Q. I am 54 years old with a bit more than 20 years of FERS employment. I believe I will need to quit my job soon due to family medical care reasons. My agency is not offering any early-outs. If I quit before my minimum retirement age of 56, then wait until I am 60 to apply for my annuity, will I face any reduction in annuity due to either being less than 62, or because I resigned prior to my MRA? A. Because you have at least 20 years of service, if you were to resign, you’d be eligible…