Q. I will have 25 years of service soon but will only be 48. If the government offers early-outs, what will I be eligible for? Pension at one-quarter of my salary for the last three years? Health insurance? What if I get a part-time job? Will this affect my pension or annuity? Also, if I do an annuity on my Thrift Savings Plan, can I start that now? Will there be a penalty? Do I get this same amount for the rest of my life, or does it stop after a certain number of years? A. Reg Jones: Because you…
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Q. I retired in 1995 from the Army after 15 years and two days under the early retirement option offered. I have been working for the federal government for over 16 years. I have not bought back any military service; I draw a military pension and disability pay. I divorced my spouse in 2006; she waived all rights to my current federal annuity, Thrift Savings Plan, etc., but does receive half of my military pension and the other half as spousal maintenance outlined in the divorce decree. Would it be legal to buy back my military service credit and convert…
Q. I retired with a CSRS pension of approximately $5,000 per month. I also have 40 quarters of Social Security paid while in the private sector from 1966 through 1978, two years of which were served in military. My Social Security print-out statement states I will be eligible for $656 per month at the age of 66. What can I expect? A. Your Social Security benefit will be reduced but not eliminated by the windfall elimination provision. To learn more about the WEP, go to www.socialsecurity.gov/pubs/10045.html. Then go to www.socialsecurity.gov/anyPiaWepjs04.htm and use the handy calculator to find out the amount…
Q. I am unmarried and under CSRS Offset. I have no children. What happens to my CSRS pension if I am deceased and have no spouse or dependent children? Do the benefits die with me? A. Your retirement contributions will be refunded and made a part of your estate.
Q. I am a retired federal employee covered under CSRS Offset. I am 65 and have been receiving Social Security payments since I was 62. I will be submitting a request for withdrawal of my Social Security and pay back all the Social Security that I received to date. I will be applying for new Social Security after the process is complete. My pension was reduced when I first received the Social Security payment. Once I receive the new higher Social Security payment in the future, would my pension be reduced more? A. At age 62, your annuity was permanently reduced by…
Q. I am a former Postal Service employee (33 years of service) collecting a pension. This September, I will have my required 40 quarters for Social Security (I work part time). Will I be entitled to a Social Security benefit? If so, to what approximate amount? A. Yes. However, if you are a former CSRS employee, that benefit will be affected by the windfall elimination provision. The WEP reduces the Social Security benefit of anyone who receives an annuity from a retirement system where he didn’t pay Social Security taxes (such as CSRS) and has fewer than 30 years of…
Q. My husband is retired civil service employee and veteran. He draws a pension/annuity paycheck each month. Once he passes away, will this be lost, or will I receive it? We have been married since 1989, and I believe he retired in 1995. Also, I am currently covered by his medical insurance. Will I still be covered under this Federal Employees Health Benefits plan once he passes? A. Your husband was required by law to provide a full survivor benefit for you, unless you agreed in writing to a lesser amount or none at all. Assuming that he elected the full survivor…
Q. I was hired as a federal employee in 1971 (my service computation date is March 12, 1971.) In 1976, I enlisted in the Air Force Reserve and attended basic training and technical school from April 1977 to September 1977. To attend this training, I used a combination of leave and leave without pay. During the next 30 years, I was either a member of the Reserve or National Guard, and I performed annual military training and/or periods of active duty using annual or military leave and LWOP (never in excess of six months.) I was never in the active-duty military…
Q. My aunt has been retired since 1995 and has received her monthly pension since then. She has never married, and she does not know if she listed any beneficiaries to her pension after she passes on. How would we know? Does the pension extend to her siblings or nieces or nephews? She is 89 years old, and the siblings are 94 and 87. What will happen to her pension when she is gone? A. Her annuity ends with her death. When she dies and her death is reported to the Office of Personnel Management, they will let you know if…
Q. My father remarried when I was 15. I was his only child. When he was 51 and I was 24, he was diagnosed with cancer. While he was in the hospital undergoing colon surgery, I was informed that he was changing his beneficiary status to his new wife. I received a small portion compared to the half that was originally on the form. I received a pension check for half of his pension one time after his death, and then his widow started to receive the entire amount. Besides the hurt this caused me, she remarried within a year and gave up his pension.…