Q. I am totally lost in getting real answers to our approach to health insurance in the coming years. I retired from CSRS in 2008 at the GS-15 level, and my wife will retire under FERS in 2014 at the GS-14 level. We both have our own FEHB. This year, when I turn 60, we are also eligible for Tricare, since I retired from the USAR. And then, when we turn 62, we are eligible for Medicare Part A, and then at 65, Medicare Part B. We are both in great shape, but we are having trouble trying to figure…
Browsing: military service
Q. I was employed by the Postal Service in the late 1960s, served four years in the Air Force and returned to the USPS in the mid-1970s before leaving for other employment. How can I determine if I am entitled to a pension? A. At age 62, you would be entitled to an annuity based on your USPS employment if you had at least five years of service and didn’t take a refund of your retirement deductions when you left. If you meet those criteria, you can apply for a deferred annuity several months before your 62nd birthday. Just fill out…
Q. I have 24 years with the Department of Defense and had 9½ years in the Navy that I didn’t buy back. I plan on retiring in seven years when I’m 62, which will give me 31 years, not counting my Navy time. Should I buy back my military time, which is at $8,100 right now, or will it not increase my retirement enough to buy it back for what I will get out of it? A. Making the deposit would increase your civilian annuity by roughly 10.5 percent. It’s up to you to decide if that’s a good idea.
Q. I am a service-connected disabled vet, with nine years’ service, plus 21 years’ service with USPS under FERS, applying for disability retirement at 49. Do I qualify for the special retirement supplement, and if so, when? A. No one approved for disability retirement is eligible to receive the special retirement supplement.
Q. I am a FERS employee with 27 years of civilian service and six years of military service, for which I made a deposit to get credit for retirement purposes. My MRA is 56. Am I eligible to retire on the first day of the calendar year in which I turn 56, or is it the day I turn 56? At that time, I will have 36 years of service. Will I get 36 percent of my high-3? When am I eligible to get 1.1 percent per year versus 1 percent? If I were offered a voluntary early retirement or…
Q. I have nine years’ active-duty time from 1991-1998 and 2001-2003. I am now interviewing for a Civil Service position and want to know how much it will cost me to buy back those years toward retirement. I keep reading that deposits have to be made, but I can’t find a description of what that means. How much will it cost me to buy back my nine years? When does that amount have to be paid? Before I start, during my employment or at retirement? And if I buy back nine years, when will I be eligible for retirement? A.…
Q. I have two years of FERS employment and have two more years on a term employment. I am retired military. I am a service academy graduate and bought back those four years. My understanding is that I must have at least five years of actual FERS employment to retire. Must I have at least three more years of FERS employment (for a total of five) to get a FERS retirement? If I had five years’ FERS plus the four years I bought back, could I apply for retirement at age 62 with nine years of service? Alternately, could I…
Q. I have applied for a federal job. I served 25 years in the Army Reserve and am receiving VA disability due to Iraq injuries. If hired for the federal job, will I be able to receive a retirement based on the length of service in the new federal job? A. If you want to know if you will get credit for your active-duty service when you become a federal employee, the answer is no unless you make a deposit to the civilian retirement system and, when you retire from that job, waive your military retired pay.
Q. I am a retired Air Force veteran with 26 years of active-duty service. I receive a pension/retirement each month. I am now employed with the state of California, but it is an uncertain situation, given the economic difficulties the state is facing. I was looking at applying for a federal job, but I’ve been told that if I do, I would be reinstated as a federal employee and would no longer receive my pension. Is this true? I was hoping I could keep my pension and work in a federal job, but I believe this is called double-dipping. A.…
Q. I have worked and paid taxes in both the United States and England during my career (1956-2004). I have worked in both places for the period necessary (in terms of the number of years) to quality for retirement benefits in each country. I am an American citizen. I have not worked for any government agency except for the U.S. Navy for four years. When I started receiving my pensions from both countries, Social Security in the U.S. stated that because of the reciprocal agreement between the U.K. and the U.S., my U.S. benefits would be reduced. Is this correct,…