Q. I am 62 years old working for Postal Service with 21 years in and have received an offer of early retirement with compensation/incentive ($15,000). The deadline to submit the early retirement is Dec. 3 and retirement date is Jan. 31, 2013. If I take the offer and retire, will I still be able to claim for unemployment compensation? If I am, can I claim an unemployment benefit? Up to how many weeks? A. While the matter is one for the employment bureau of your state to decide, as a rule, no one who retires is eligible for unemployment compensation.
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Q. I worked from October 1985 to April 1991 for the post office and was part-time flexible for 13 months of it. I cashed out my retirement when I left. If I took a federal job, would I be allowed to buy that time back for retirement? Also, if that job was not with the Postal Service, would this affect retirement benefits? A. If you return to work, you could redeposit that money, plus accrued interest. It doesn’t make a difference whether you work for the Postal Service or any other federal agency. They’re all under the same retirement system.
Q. I received a career appointment with USPS as a letter carrier in 1977 and resigned in 1995 with 17 years’ service. Whom do I call or email for details on my reduced pension benefits? I turned 62 in October. A. All you need to do is complete a copy of Standard Form 3107, Application for Immediate Retirement, and mail it to the address on the form. You annuity will be computed as follows: 0.01 x your highest three consecutive years of average salary x your years and full months of service.
Q. I am a 55-year-old USPS employee covered under the American Postal Workers Union health plan. If I take early retirement and work for a private-sector company, can I still carry my FEHB, or must I take any health plan offered by my new employer? A. As long as you have been continuously enrolled in the FEHB progam for five years (or from your first opportunity to enroll) you can continue that coverage after you retire. I have no idea whether your new employer will require you to enroll in its health plan. If it does, that coverage will be…
Q. I was a postal employee between 1983 and 1996. When leaving the Postal Service, I took a withdrawal from the pension system. 1. Could these funds be redeposited into the system so I could qualify to draw an annuity? 2. If I must return as an employee of the Postal Service AND redeposit the funds I withdrew from the pension system, how long would I have to work before I could qualify to retire? I also contributed funds into the TSP which I never withdrew. Those funds are still active with the plan. A. You cannot redeposit the refund…
Q. I’m preparing to retire and have a question concerning annual leave. Are you paid for all you have accrued, or are you limited to your carryover limit? A. Unless you are a Postal Service employee, you’ll receive a lump-sum payment for all your annual leave, but only if you retire before the end of the leave year. The 2012 leave year ends Jan. 12, 2013.
Q. I just sent you a question and realized I did not include that I am under CSRS. As of Oct. 13, I had 29 years with the Postal Service and presently have enough annual and sick leave to get me through until I have my required 30 years. What is the best way for me to retire early with the least amount of loss in my retirement? A. First, I need to correct a misunderstanding on your part. You can’t use your annual and sick leave to help you reach 30 years of service. Unlike the military, the federal…
Q. I was offered and accepted a Voluntary Early Retirement Authority payment from the Post Office last month under CSRS. If I return to work in the private sector, will it affect my CSRS pension or the VERA I received? A. Working in the private sector will affect neither your CSRS annuity nor the VERA payment you received.
Q. I have worked for the USPS for a little more than 25 years and am under FERS. I have accumulated 2903 hours of LWOP over this period (having two babies and caring for elderly parents). I never used more than six months in any one year. Will I have to make this time up on the end (approximately 1½ years)? Will it affect my retirement computation date? A. Up to six months of LWOP in a calendar year is considered creditable service. As a result, your retirement computation date won’t be affected.
Q. I am a postal employee in FERS. I received a document from my human resources department, which states that my retirement eligibility date is May 19, 2016 (I was born in 1960). Does this mean I will receive the special retirement supplement even though I began employment with the Postal Service on Feb. 8, 1988, which only gives me 28 years of service time? I thought the FERS annuity supplement had the requirement of 30 years service time and age 56 for me. I have to make a decision by Dec. 3 as to whether or not to take…