Q. I will have worked for the Postal Service for 30 years as of Sept. 20. For approximately 10 1/2 years of that service, from 1993 to 2004, was PTR at 25 hours a week. Now that I am reaching retirement age in 3 1/2 years, I can see that my annuity has been reduced more that I anticipated. Is there a way to deposit some money in a lump sum into CSRS to increase my annuity before retirement? Even trying to figure my true annuity has been a challenge. Annuity estimates are based on 30 years full-time service. A.…
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Q. I retired from the Air National Guard. I currently am working for the Postal Service and plan to retire at age 56. I participated in the military buyback program and paid for the 15 years that I served while I was on active duty. Will this affect my ANG retirement pay once I reach the age of 60? A. No. it won’t.
Q. I am a postal employee under CSRS who will retire later this year. I have calculated my sick leave to use toward my retirement time. My question is, does the Postal Service calculate sick leave hours (credit) differently than OPM? The reason I ask is I was told that the Postal Service does not require as many hours as OPM and this could affect how my sick leave credit is computed when OPM does my service time. A. What you were told is untrue. Calculating the value of sick leave in determining your retirement annuity is the exclusive province…
Q: I worked for the Postal Service from January 1984 to September 1996 and was involuntarily separated after 12 years. Am I still eligible for a FERS annuity — and if so, when can I begin collecting and who do I contact to begin this process? A: If you left your retirement contributions in the retirement fund, you would be eligible for a deferred annuity at age 62. Two months before you reach that age, you’d need to complete a copy of Standard Form 3107, Application for Immediate Retirement, available for download at http://opm.gov/forms/pdf_fill/sf3107.pdf, and send it to OPM.
Q. I work for the United States Postal Service; at my agency we do not receive locality pay. If I decided to leave USPS to go to another government agency that offers locality pay, how would that be incorporated into my current base pay? The way I think it works would be you take my current base pay and add locality pay on top of that. Am I correct? A. Since the Postal Service pay system is completely different from the GS or wage systems, there’s no direct correspondence between their grades and yours. In effect, you would receive the salary…
Q. I am employed by the Postal Service and covered by CSRS. I turned 66 this past spring and applied for and now receiving Social Security benefit checks. I applied at my local office and was told that as long as I keep working, I am not subject to WEP but when I retire, it will kick in and I must inform them. Is this true? A. Yes
Q. I am currently working in the U.S. Postal Service under CSRS for 32 years. I will be 62 in January and have paid into Social Security for more than 10 years (forty quarters). Social Security sends me yearly letters stating how much I can draw at retirement. Will I be able to draw at 62 if I’m still working at the post office. Am I eligible to draw any Social Security at all if my CSRS is over $14,000? A. You would be able to apply for Social Security benefits while you are still working but it wouldn’t be…
Q. I want to retire at the age of 55. At this time I will have 35-plus years in with the U.S. Postal Service. Will I be able to receive monthly annuity checks from TSP without a penalty? I will be 55 years old in 2021 … when should I retire under FERS and not take a huge hit? A. You may want to retire at age 55 but you won’t be able to do that. As a FERS employee who was born in 1966, your minimum retirement age is 56 years and 4 months. Because you would have at…
Q: I work for the Postal Service and have four years of creditable military service. I started work after Oct. 1, 1982. If I pay my deposit and make monthly payments on my interest but do not pay back all the interest owed by my retirement date, will my credit (military service) be adjusted? How is it calculated? A: If you don’t complete your deposit, including accrued interest, by the date your retirement application is adjudicated by OPM, you won’t get any credit for that service. Instead, the money you did deposit will be returned to you.
Q: I retired on full CSRS disability from the U.S. Postal Service in 1991. I am 64 years old. When I turn 65 will I get or apply for regular Social Security retirement, or do I just get the federal disability until I die? A: You would only be eligible for a Social Security disability benefit if you had the required number of Social Security credits and were judged by SSA to be disabled for all gainful employment. If you didn’t meet that last definition and had at least 40 credits under Social Security, you would be eligible for a…