Q. I am an Air Reserve technician. I turn 60 in March 2014 and by law will have to retire from the military side of my federal job. At that time I will have 11 years as a federal employee, and with making the deposit on my active-duty military service, I will have just shy of 17 years in the federal system. I was at a retirement seminar for FERS and was told the government would have to find me a job to keep me employed until I reach 20 years of federal service. 1. Is that true? 2. Do…
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Q. I retired from the Army National Guard in 1991 with more than 20 years of National Guard service and approximately 13 years of active-duty (AGR) time. After retiring from the Guard, I spent 10 years in the private sector and six years working in state government before I was hired by the VA in 2006. I am 60 and just began receiving my National Guard retirement (20-plus years after retirement). Can I buy into the federal retirement plan based on my service time/points? If so, approximately when would I be eligible for retirement? What would be the impact on…
Q. I was in the Air Force title 10 from July 1977 to April 1992 (14 years and seven months). I was in the Air National Guard title 32 from June 1992 to June 2006 (14 years). I retired from the Guard title 32 and am receiving a retirement check. I now have a civil service job, and human resources is saying I can purchase the title 10 time toward retirement. If I purchase the title 10 time, will I have to forfeit my title 32 military retirement? Also, if this is correct, how would the 14 years benefit my…
Q. I am a FERS employee and plan to retire at age 60 with more than 20 years’ service. I will have been enrolled in FEHB for more than five years and want to know: If I elect to not have a survivor on my annuity, will my spouse, who receives a monthly military retirement from the U.S. Navy and has Tricare for Life, be able to keep the FEHB after my death? A. No. Your spouse has to be both covered under the self and family option of your FEHB plan and receiving a survivor annuity. As a FERS…
Q. As a FERS civil servant, if I am covered under Tricare for the last five years before retirement, and I enroll in FEHB just before retiring, can I maintain FEHB in retirement and can my active-duty spouse be covered under FEHB if we choose to do so after I’ve retired? A. Yes.
Q. Can I retire from FERS (civil service) at 59 with 24 years (16½ active duty, eight civil service) and receive retirement payment when I retire at 59? I’ve read many columns, and I can’t find one that answers my question. If I’m penalized, what is the penalty amount in dollars? A. Yes, you could retire under the MRA+10 provision and receive an immediate annuity; however, it would be reduced by 5 percent for every year you were under age 62. You could reduce or eliminate the age penalty by postponing receipt of your annuity. Alternatively, you could continue working…
Q. If I have worked 6½ years civil service in FERS and I buy back my military time (four years), will I be eligible for the MRA+10 retirement at age 57 if I leave federal work now? Also, if I work 10 years in civil service and bought back my military time, would I get 14 percent (10 + 4) of my high-3 average or just the 10 percent? A. If you make a deposit for your active-duty service, you could retire under the MRA+10 provision. Your annuity would be computed using the standard formula: 0.01 x your high-3 x…
Q. I spent 10 years on active duty, and I am in the Navy Reserve. Between the active-duty and Reserve time, I worked for the post office. I know the post office allows you to buy back your military time. Is the reverse also true — can you transfer your Postal Service time to count toward military retirement? A. No.
Q. I am looking to retire by mid-December when I have reached my minimum retirement age and have 27 years FERS service (first week of November). I have paid the deposit for my three years military time. I thought that would enable me to retire on an immediate annuity (MRA with 30 years) and also qualify for the special retirement supplement. I am concerned by your response from Oct. 12, which indicated that the special retirement supplement is based solely on actual FERS service and does not include active-duty service for which a deposit has been made. Am I missing…
Q. I have not paid back my military deposit of approximately $7,000 and am not sure if it would be wise to. I am 59 and have 34 years in CSRS without my service time. I also do not have enough credits with Social Security to receive benefits. Any suggestions would be greatly appreciated. A. Because you were first hired before Oct. 1, 1982, you’ll get credit for that period of active-duty service in your annuity computation even if you don’t make a deposit. If you are retired and won’t be eligible for a Social Security benefit at age 62,…