Browsing: part-time

Reduced hours and high-3

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Q. I am a full-time Postal Service employee covered under CSRS. I have more than 30 years of service (active Postal Service + military buyback). I am still too young to retire, and will probably work another seven to 10 years. Recently, I changed to a nontraditional full-time position (NTFT) of 35 hours per week. Can you tell me how this reduction in weekly hours will effect the calculation of my high-3 in regards to my retirement? How far out from my retirement date would I need to change back to a full-time (40 hours per week) position to regain…

Re-employed annuitant

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Q. I am 55 years old and took an early retirement offer with an incentive from the Postal Service in August of last year. I had 26 years of full service. I am considering an opportunity to become re-employed part time with the U.S. Forest Service as a GS4 information receptionist at the local visitor center. This is a seasonal position lasting six months a year. How will this affect my Thrift Savings Plan withdrawals and my special retirement supplement when I turn 56? I retired as an EAS-18 postmaster.

Part-time federal job after retirement

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Q. I have a question that follows up on a question and answer from Nov. 19, 2012. Could you explain in a bit more detail what is meant by the following statement?: “There are limited opportunities for a retiree to go back to work for the government either full time or part time while receiving both his annuity and the full salary of his position.” Do you mean, for example, that, in most cases, the law prohibits a retiree of one federal agency from working part time for another federal agency, or imposes a negative consequence upon such a retiree…

Retirees working part time

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Q. Has the Office of Personnel Management written the implementing instructions that allow federal retirees to retire part-time? I am interested in doing this with the Veterans Affairs Department but don’t know where to apply. I plan to retire Jan. 3, 2014. A. Only your current agency personnel office can tell you that.

VERA/VSIP and part-time work

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Q. Our installation is offering a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. My service computation date is in November 1988, and I will be 52 this May. I have 15 years of part-time employment. A majority of these years were at 40 hours, biweekly. Approximately three to four years were 48 hours, biweekly. How can/do I calculate my estimated retirement pay, other than contacting ABC and requesting calculation? I’m afraid they will not be able to provide info before the deadline to apply for the VERA/VSIP. A. You’ll find out how to do that by going to www.opm.gov/retirement-services/publications-forms/csrsfers-handbook/c055.pdf and…

OASDI and taxes

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Q. I recently started working part time. I requested taxes be deducted from my payroll.  I note that I am being taxed old age, survivors and disability insurance. Is it a mandatory tax if I’m already retired? A. Yes. Anyone who has earnings from wages or self-employment is required to pay that tax, even if he or she is already receiving a Social Security benefit.

Health insurance payments in retirement

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Q. I am transitioning to part time from a full-time position. I plan to continue to work 0.6 FTE from age 53 until age 60, when I would like to retire. I will have 20 years and nine months at age 60. At what percentage will I pay the premium for my health insurance in retirement? A. You will pay the same premiums as all other employees and retirees.

Social Security computation

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Q. I’m a CSRS/FERS hybrid federal retiree receiving Social Security and working part time. My earnings come close to but do not exceed the $14,000 limit. My employer withholds Social Security taxes from my earnings. Will my Social Security benefits ever increase because of my earnings? What if I earn in excess of the applicable yearly amount? A. If you are under full Social Security retirement age, your Social Security benefit would be reduced by $1 for every $2 you earn through wages or self-employment. In 2012, that limit is $14,640. In the year you reach full retirement age, your…

CSRS Offset

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Q. I am under CSRS Offset. My retirement plan has always been to retire and get a non-civil-service job. My idea was that the CSRS, even Offset, pension would be my bread and butter and the other job, probably part time, would be a supplemental. What I have read about CSRS Offset seems to indicate that it won’t work. As of age 62, I will get some money from CSRS and some from Social Security. But if I am working, won’t that stop me from getting the Social Security? A. If you are retired before age 62, when you reach…

Part-time work and annuity computation

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Q. I have been in CSRS for 30 years as a Veterans Affairs Department employee. The first 24 years, I had a 5/8 VA appointment, the last six, I have been 8/8. For CSRS annuity purposes, do the part-time years count as 24 years or 5/8 of 24 years? A. You’ll get full credit for that time in determining your total years of service. However, your annuity will be prorated to account for that period of part-time service.

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