Q. As a postal employee under FERS for USPS for 28 years and eligible for retirement in September 2011 at age 56, am I eligible for the early supplement until age 62 or do I have to wait until age 60 with 30 years of postal service only? I have four years of creditable military service, which would make approximately 32 years for retirement purposes. A. If you are eligible for immediate retirement — your minimum retirement age plus 30 years of service — you’d receive the special retirement supplement along with your annuity. However, unless you made a deposit…
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Q. I’m 63 with 28 years of service under FERS. Beside the Social Security I’m receiving, am I entitled to a pension from USPS too? If so, how much? A. If you are still employed, it’s unlikely that you are receiving a Social Security benefit. If you were, it would be substantially reduced or even eliminated because of the Social Security earnings test. Anyhow, when you retire, you’ll be entitled to receive both your Postal Service annuity and any Social Security benefit you earned based on your number of years under Social Security. Your Postal Service annuity would be computed…
Q. I’m receiving a survivor annuity from my husband, who passed away in 2003. He was in CSRS from the Postal Service. I’ve been in FERS for 26 years from the Postal Service. When I retire and start receiving my pension, will I still receive my husband’s annuity? A. Yes.
Q. My husband, who is retired from the Postal Service, turned 65 on Aug. 31. I am on his Blue Cross/Blue Shield and am still working full time at age 49. Now that he is 65, what does keeping the BC/BS health insurance cost per month? If he decides to go on Medicare, can I stay on this plan? A. When he enrolls in Medicare, his premiums will remain the same. However, because he is retired, Medicare will be primary and his Federal Employees Health Benefits plan secondary. You will continue to be covered by the self-and-family option of his…
Q. I recently resigned my position as postmaster to take advantage of the $20,000 incentive buyout. July 31 was my last day of work. I am 54 years old with 10-plus years of service. I left behind 796.5 hours of sick leave. Will these hours be converted to service credit? I don’t plan to apply for my FERS annuity until I am 62. A. As a deferred annuitant, you wouldn’t receive any credit for your unused sick leave.
Q. I am a FERS/frozen CSRS Postal Service clerk who will be 56 years old with 34 years service. I’m eligible for retirement in November. If the Postal Service offers a Voluntary Early Retirement Authority with monetary incentive after I submit my retirement forms but before I actually retire, will I be eligible for the VERA with monetary incentive? A. It’s possible but unlikely. The purpose of the Voluntary Separation Incentive Payment is to encourage employees to retire who would be less likely to do so without a cash incentive.
Q. I am 60, retired from USPS under CSRS. I was told I will receive my Social Security along with my postal pension at age 60. When I reach 62, I then will be dropped from this and can apply for Social Security directly. I have my 40 quarters in Social Security. Is this true? A. Whoever told you that was mistaken. He may have thought you were covered by FERS. FERS retirees receive a special retirement supplement that approximates the amount of Social Security benefit they earned while FERS employees. As a CSRS retiree, you would be eligible for…
Q. I am a FERS employee (postal) with 16 years in with four years Air Force. If I took a full-time state job, how would that affect my federal retirement? My minimum retirement age is 56 years and 6 months, and I am 44. A. If you resigned from the government, left your contributions in the retirement fund and took a non-federal job, you’d be eligible for a deferred annuity at age 62. You’d be eligible for a deferred annuity at age 60 if you have made a deposit to get credit for your active-duty service, giving you a total…
Q. I am 51 and a postmaster with 29 years in CSRS. I was told my office at USPS will go to four hours in 2014 (I will be 53). If I don’t find another job in the Postal Service before 2014 and am terminated due to reducing my office to a non-postmaster office, can I collect a immediate annuity and keep my health insurance? A. If you are involuntarily separated, you will be eligible for an immediate annuity. The same is true if you are offered an opportunity to retire early. If you have been covered under the Federal…
Q. I am 58 and will be retiring soon under a VERA with the Postal Service. I have back, foot and knee ailments that have been diagnosed and that give me constant pain. If I take a VERA with the special retirement supplement before age 62 but am unable to find or perform work after retirement, could I apply for Social Security Disability Insurance instead of regular Social Security? I have 27-plus years of service. A. You could apply for SSDI. However, whether you would be approved for it would be up to the Social Security Administration. You can learn…