Q. I am a CSRS employee who plans to retire this year. I will have a large annual leave buyback, so I want to leave before the end of the 2013 leave year. I read one article that advised to retire Dec. 28 (the start of new pay period) and others that relay Jan. 3, 2014. While I understand that the 3rd is the max to stay and get a retirement check the following month, i.e., February, am I correct that if you retire Dec. 28, you miss out on two full days of pay, i.e., the 30th and 31st?…
Browsing: prorated
Q. I have been in CSRS for 30 years as a Veterans Affairs Department employee. The first 24 years, I had a 5/8 VA appointment, the last six, I have been 8/8. For CSRS annuity purposes, do the part-time years count as 24 years or 5/8 of 24 years? A. You’ll get full credit for that time in determining your total years of service. However, your annuity will be prorated to account for that period of part-time service.
Q. I am contemplating retiring Dec. 31, Jan. 2 or Jan. 3. I am not sure how the CSRS annuity check is computed. Based on a full month? Or if I retire during the month, is it prorated, or is that month lost. 1. When does my CSRS pension start if I retire on Dec. 31? Do I receive an entire month’s (January 2013) pension check? When would I receive it? 2. If I retired on Jan. 2 or 3, when would I receive my annuity check? Is it prorated for January? 3. Also, since the leave year ends Jan.…
Q: I recently retired from the FBI in a non-law enforcement position. However, I started federal service in 1971 (Drug Enforcement Administration special agent, customs special agent) and stayed in that position for about 15 years. I then went into the private sector for 18 years. After retiring from the private sector, I returned to the government with the FBI. After a total of 20 years, I retired. The Office of Personnel Management advised me that although I contributed the higher amounts to the 6(c) retirement for three-quarters of my federal service, there was no provision for either a partial-6(c)…
Q: I am a Title 38 Veterans Health Administration part-time registered nurse and will be going full time my final three years. I will be retiring with 31 years of service at age 58. Are my part-time years computed on a prorated basis for my retirement annuity? A: Without getting into agonizing detail, your period of part-time service will be treated as if it were full-time service when determining your eligibility to retire; however, because you were less than full time, when computing your annuity, that period will be prorated. For example, if you had 30 years of service and…