Q. I work for USPS. I heard from one of my supervisors that there was an article in Federal Times about postal employees told by OPM that if they took the 2009 VERA before reaching their MRA, the employee would not be eligible for the special retirement supplement at the time they take the VERA, but that when they reached their MRA, they would be able to receive it. She said that after these employees who hadn’t reached their MRA took the 2009 VERA reached their MRA, they were being told that because they took the VERA before they had…
Browsing: MRA
Q. I am a federal employee with 23 years of service and have just turned 56 years old (my MRA). If I am involuntarily separated before I have a year in under my MRA, will I be able to opt to continue my Blue Cross/Blue Shield, which I have carried my entire career, with the government continuing to pay the portion it has always paid? What if I choose to take an early retirement before I have a year in under my MRA? A. I have no idea what you are talking about when you mention needing to have a…
Q. I am looking at a job with the USPS. I have 10 years of active-duty service in the Air Force and three or four good years in the Reserve. I never reached 20 years to receive military retirement. How do these years in military service apply toward retirement and benefits if I get a job with the USPS? Do I have to buy back these years if I never received retirement, and how does that work? Then how long would I need the USPS job to gain retirement from the USPS? A. If you worked for the federal government,…
Q. I am a VA employee with 31 years of VA service and three years in the Marine Corps. I am 60. If I qualify for a FERS MRA+30 retirement (which I believe I do), would it make a significant difference in the monthly SS portion of my benefits if I bought back my three years of military time before I actually retired? A. Making a deposit for that time would increase the amount of your annuity; however, it would not affect your special retirement supplement or your actual Social Security benefit.
Q. I am confused about the supplement. I am 55 with 27 years in. My minimum retirement age is 56; reaching that mark would qualify me for the supplement, but how much will that be? My Social Security statement says $1,400 projected at age 62. And if I take the supplement, I understand I can only make, in addition to that, some $14,000. What happens at 62? Is my Social Security reduced for taking it at 56, or is this a nonpenalized benefit I am receiving? A. To be eligible for the special retirement supplement, you would have to retire…
Q. I am 48. I was active-duty enlisted Navy from 1983 to 1993, so I have 10 years’ active duty. I got out as an E-6 with an honorable discharge. I am also 10 percent disabled, which happened when I applied for the CAVET program. I live in California. I took an early-out special separation bonus lump sum to get out after 10 years. President Reagan was drawing down the forces at the time and offered the early out. I don’t see any money because I understand I have to pay back the SSB lump sum. I have been working…
Q. If and when the phased retirement takes effect, will it be possible to combine it with an early out, if announced, so that you could go half time earlier than otherwise? I’m 57 with 25 years’ service and am in FERS. A. No. To participate in the program, you must be eligible for immediate retirement. In other words, age 55 with 30 years of service or age 60 with 20 (CSRS) or at your MRA with 30 years of service or age 60 with 20 (FERS).
Q. I served in the Marine Corps active duty from 1975-1987, then in December 1987 became a civil servant under FERS as a special agent (1811) until I retired in 2009 with 21 years of civil service. I bought back my 12½ years of active-duty military time, giving me 33½ years of federal service at age 51 (I was 17 when I joined the Marines). I stayed in the Marine Corps Reserves with 20 good years and will start to draw my military retirement annuity at age 60. I am 55. What is my MRA? I receive the special retirement…
Q. I am a 43-year-old federal employee, and I had seven years of military time and so far 15 years of service under FERS. I have made a deposit for my military time, so I am at 23 years. I just made GS-11. What is the option for retiring at the end of that three-year period as a GS-11 for my high-three? A. There is no option because you won’t meet the age and service requirements to retire on an immediate annuity: age 62 with five years of service, 60 with 20, at your minimum retirement age with 30 or…
Q. I am employed with the federal prison system, which gets law enforcement officer coverage. With five years of civilian service and eight of military paid for, I will have 13 years of total service. I’m only 34 now, but if I leave to pursue other employment, will I qualify for an MRA+10 annuity at 57 or deferred annuity at 62? Also, what will be used to compute my annuity —1.7 percent or 1.0? A. If you left, you’d be eligible for either an MRA+10 annuity at age 57 or a deferred annuity at age 62. If you elected to…