Browsing: FERS

Q. I have recently read an article that stated the following: The survivor of an individual who meets the definition of a FERS annuitant is not eligible for the FERS Basic Employee Death Benefit (BEDB), the BEDB is a lump sum payment made to the spouse of an individual who dies while still in federal service. This individual has not filed an application for retirement and has not separated from federal service. So, does this mean as a retired annuitant, a spouse who was provided a spousal benefit cannot get any benefit for carrying the Basic Life into retirement?

Q. I started with the federal government on Aug. 18, 1986. I was recently reviewing my personnel records and noticed that from that day until Dec. 31, 1986, my retirement plan was listed on my SF-50 as CSRS Offset. Then on Jan. 1, 1987, it was changed to FERS. Were individuals who entered federal employment on Aug. 18, 1986, automatically changed to FERS the following January, or were employees given the choice to choose between CSRS Offset and FERS?

Q. As a retired federal law enforcement officer who earned a law enforcement retirement under FERS, I am approaching my 56th birthday. Since the SRS supplement will be discontinued or reduced at age 56 (MRA), I am curious as to how this amount is calculated? I am aware it will be reduced for anything I earn over $15,480 annually, not counting my pension. Will OPM send me an inquiry, or is this something I am supposed to submit? Do they base it on my earnings when I turn 56, or the previous year’s earnings? I would like to keep the…

Q. If I accept a VERA with just over 30 years of service under FERS at age 54 and with just under 18 months to go before I reach 56 or my MRA, would I still be immediately eligible at early separation for the special retirement supplement under a VERA, or do I have to wait until I turn 56? A. The special retirement supplement will begin when you reach your MRA.

Q. I am 52 with 17 years in the federal government (FERS). I am not eligible to retire yet and am not eligible for a discontinued service retirement. My agency field office is closing, and I have decided to decline their directed assignment outside of my state. I am eligible for severance pay due to the fact that it is not a reasonable job offer (it is outside of my commuting area, and I am not subject to a mobility agreement). I have submitted my information and found I am eligible to receive one year’s worth of severance payments. I…

Q. I am 50 and I have been in government for 27 years. I am going to apply for a deferred retirement at age 60 or 62.  I thought I read somewhere that the “high-3” was consecutive. If I was a GS-13 and due to BRAC had to come back into the government at a much lower grade, could I still use my high-3 including grades 11-13 or am I required to use the last grade I held? A. Yes. Your high-3 is the highest three consecutive years of average basic pay (78 pay periods), regardless of when they occur…

Q. I have 20 years of federal service, am 52 years old and currently work for a Federally Funded Research and Development Center. When I separated from federal employment, I was told I have an annuity based on my employment years (contributions made). A. Assuming that you didn’t get a refund of your retirement contributions when you left, you’d be entitled to a deferred annuity at age 60.

Q. Item 19 of the LES has “Cumulative Retirement” FERS: What exactly does this number mean? Is it just a total amount in FERS, or something else? Monthly or yearly amount at retirement? A. It tells you how much you’ve contributed to the retirement system.

Q. When I retire (I will be at my MRA and 31-1/2 years on Dec. 31, 2015) and start receiving the Social Security FERS Supplement, and I start my retirement for 2016, do I receive the Social Security COLA and the FERS percentage increase each year? A. Neither your annuity nor your special retirement aupplement would be increased by COLAs. Your annuity would first be increased by COLAs when you reach age 62. At age 62 your SRS would end and you’d be eligible for a Social Security benefit.

Q. I am in the FERS system and plan to retire Jan. 9, unless Dec. 28 would be a better date? I will have a large lump-sum leave payment and want to maximize any possible salary increases (i.e. 1 percent) that might be applied to the lump sum in 2015 without losing my maximum carry-over hours. I am willing to start my annuity the following month. A. You’ve touched all the bases in your analysis. Since you are willing to forgo an annuity in the month you retire, you’ve already answered your question: Jan. 9 is the date that best…

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