Q. I had bought back my military time (three years) when I was hired at the Postal Service. My hire date was April 15, 1985. My pension shows my service computation date as 1982 as it should, but I am getting conflicting answers on my special supplement. One video I watched says I can’t get creditable service time for those years because I served prior to being hired here. Now I read some of these articles and people are being told that as long as you buy the time back, you should receive credit toward the special retirement supplement. I…
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Q. I will be 60 years old in December and have worked for the U.S. Postal Service 24 years. The Postal Service is cutting back. If I wanted, could I or resign and defer retirement at a later date without losing accumulated benefits? A. Because you are 60 and have at least 20 years of service, you can retire on an immediate, unreduced annuity any time you want.
Q. I am about to resign from the Postal Service as a carrier after 21 years. At my minimum retirement age of 56 years and six months, can I draw my retirement without penalty? Can I draw it early with a penalty? A. If you resign from the government, you can apply for a penalty-free deferred annuity at age 60. Your annuity will be calculated using the standard formula, with your high-3 being the one you had when you left.
Q. I have 17 years of prior service in the United States Postal Service under CSRS, and I’m employed by the state of New York. I would like to know if there is a way to combine my federal and state times. A. There isn’t. FYI: If you didn’t take a refund of your retirement contributions when you left the Postal Service, you could apply for a deferred CSRS annuity at age 62.
Q. I need medical benefits to continue. I was hired by the Postal Service in March 2001. I turn 56 on Jan. 8. I will have 12 years of service next year. My contract is up for renewal, with the possibility of me losing my job. A. If you reach age 56 before you lose your job, you could retire under the MRA+10 provision. Although your annuity would be reduced by 5 percent for every year you are under age 62, you could retire and postpone the receipt of your annuity. If you’ve been covered under the Federal Employees Health…
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.
Q. I am a 51-year-old FERS employee with 23 years of service. Under the Postal Service’s POStPLan, postmasters will receive a reduction-in-force notice in September 2014 if they have not been promoted or found another job. My post office will be turned from a full-time office to a noncareer part-time position, which I can’t work, abolishing my position. If I do not get a written job offer by Sept. 30, 2014, is discontinue service retirement available to me? A. Yes, because you will be at least age 50 and have at least 20 years of service.
Q. Does the time I worked as an RCA/AUX mail carrier count toward my retirement under FERS? I was hired in USPS in 1995 and just got a full-time carrier job this year. Some have said I should buy that time back; some have said I can’t buy that time back; and some say it will count anyway. A. Yes, Rural Carrier Auxiliary employment does count toward retirement, but only if you make a deposit to the retirement system for that service.
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 Postal Service employee involved in a reduction in force. Could I transfer to a permanent part-time position with the Transportation Security Administration and maintain my current retirement benefits as a civil service employee? A. Yes.