Q. I am a USPS mail handler and have been offered the early out. I am 49 with 26 years of service. I cannot get the special retirement supplement until I reach my minimum retirement age. Would that be 56 or 60 years old because I don’t have 30 years in? I am hoping for 56; otherwise I have to work four more years to get the 30. A. You’ll begin receiving the special retirement supplement when you reach your MRA, which is 56.
Browsing: MRA
Q. I am a 50-year-old postal worker, with 27 years’ service, covered under FERS. If there is a VERA, can I collect the supplemental Social Security benefit? As soon as I retire or at my MRA? A. When you reach your MRA.
Q. When retiring under 30 years/MRA under FERS, can the 30 years’ creditable federal service needed to qualify to receive the FERS special retirement supplement include years employed by the federal government under CSRS and/or military service or do the 30 years need to be FERS employment only? A. The special retirement supplement is based solely on the time that you were a FERS employee.
Q. If I take deferred retirement after MRA but before 62, can I re-enroll in my BC/BS plan (that I have participated in for more than five years) later? Does that date have a time limit? I ask in light of this: “If you separated from federal service after reaching the Minimum Retirement Age with at least 10 years of service but postponed the commencing date of your annuity to reduce or avoid the age reduction, you are eligible to re-enroll in the Federal Employees Health Benefits program and the Federal Employees’ Group Life Insurance program if you participated in…
Q. I am 54 and a federal employee with 14 years of service. Can I take a postponed retirement now and then at MRA, 60 or 62, apply for retirement and have my health and medical coverage reinstated? I have looked at OPM, and it is not clear. I have talked to my agency’s folks and received conflicting information. A. No. To retire on a postponed annuity, you’d have to have at least 10 years of service (which you do) and have reached your minimum retirement age (which you haven’t). Your MRA is 56. At age 54, all you could…
Q. If USPS offers a VERA, I have 26 years and am 54. I know I’ll be eligible for retirement, but if I leave before 56, my MRA, will there be a reduction in my annuity? Are there any penalties associated with accepting the VERA? A. The age penalty is waived for anyone retiring under the Voluntary Early Retirement Authority. However, you wouldn’t be entitled to the special retirement supplement until you reach your MRA.
Q. I am a 55-year-old postal worker with 33 years of service, including six years of paid-back military time (27 years without). If I take an early out or VERA under FERS with an MRA of 56, will I receive the special supplement when I turn 56? Is the requirement lowered for the special supplement to 20 years instead of 30 years of FERS time? I realize my special supplement will be based on 27 years. A. No, the minimum retirement age threshold for the special retirement supplement has remained the same since the passage of the act establishing FERS.…
Q. To obtain the 30 years needed to qualify for the FERS Supplement, can I use only actual time employed under FERS, or can I also use time employed under CSRS that was bought back by doing a redeposit, and can I also use military time that was bought back? I am under FERS code 8 retirement system and will retire shortly under FERS with the minimum of 30 years required, but I want to make sure I can use any and all federal employment to make sure I qualify for the FERS Supplement before I retire. I have reached…
Q. I was a FERS employee. I retired Dec. 31. I was a full-time Air Guard reserve technician with a federal position reliant on holding the military position. I lost my military position under selective retention “no fault of mine” and “nondisciplinary.” I am 51 with more than 30 years of federal service. when I was processed through my local agency ABC-C, I was sent a statement that I was eligible for an immediate FERS retirement annuity, to include my supplement based on my Social Security. On May 15, I went from interim to final payments at OPM. Everything looks…
Q. I will be retiring in 2013 at my MRA, 56, with 34 years of service, 28 in the USPS and six in the military (I bought back my time). I am a FERS employee and thus will be eligible for the special retirement supplement. My OPM pension will be $2,000/month. My Social Security benefit estimate is $1,300/month. Will I receive any of those benefits? A. Having a CSRS component in your annuity won’t affect the amount of your special retirement supplement, which is paid by OPM and based on the amount of Social Security benefit you earned while a…