Q. I moved to another base due to a base realignment and closure in 1994. I was told by my personnel office several years ago that it would be to my advantage to pay back my military time. So, trusting their advice, I paid it back. And because the interest accrued since 1986, the dollar amount tripled. I served in the Navy from 1974 to 1978. However, I attended a retirement class for CSRS employees and was told by the instructor I didn’t need to pay it back. I do not have 40 quarters and I will not be eligible…
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Q. When I retired, I selected a full survivor annuity for my spouse. She recently passed away. What happens to those funds that were withheld from my annuity to provide her survivor annuity? A. If you are asking if you are due a refund, the answer is no. However, once you have notified the Office of Personnel Management of your spouse’s death, your annuity will be increased to the level it would have been had you not elected a survivor annuity.
Q. I was a federal employee under CSRS for almost 11 years and left to pursue a state job that I am now retired from. I immediately got back into the federal system under CSRS Offset and have repaid almost all of the retirement funds that I withdrew when I first left. I am considering overpaying back into the retirement system by about $8,000 and retiring with 20 years of service. Do you have any idea what percentage I might receive if I do this? I understand normally with 20 years, the amount is usually about 38 percent. I was…
Q. I have 44 years of civilian service under CSRS and 2,400 hours of unused sick leave. Will the year of sick leave be added to my years of service and give me 82 percent annuity or just 80 percent annuity? A. Sick leave isn’t subject to the 80 percent annuity limit, which applies to any retiree who has reached 41 years and 11 months of service. Your unused sick leave will be added to your actual service and used to increase the amount of your annuity. Therefore, your 2,400 hours would add one year and one month to your earned annuity…
Q. I’m a CSRS employee. I am eligible for retirement. I’ve passed my 62nd birthday and will not have enough quarters to be eligible for Social Security. I have heard different accounts of whether there is a way to get a refund on the money I paid to buy back my six years of military service time. Since I will not be eligible for Social Security and I paid the full amount to be sure I would be able to get credit for my military service, is there a way to get a refund on the nearly $8,000 I paid,…
Q. I have paid the military buyback but am in the process of increasing my disability rating through the Veterans Affairs Department. This would not be advantageous for me to combine my military with civilian service in the federal government. Can I ask for a refund of the military buyback? What is the form or process I would use to do this? A. No, you cannot get a refund of your deposit.
Q. I was hired by the U.S. Bankruptcy Court in 1994 and resigned in 2000 to relocate across the country. Four months later, I found a new position and have been continuously employed with the federal government since. My position in the U.S. Senate will expire at the end of the year (the senator I work for is retiring). If it takes, hypothetically, two or three months after that to find another federal position, what will that break in service do to my retirement benefits/years in service? And what about the first break in service of four months back in…
Q. I resigned from federal service with 21 years of service: 20 in FERS, one in CSRS. At the time I resigned, I was not yet at my minimum retirement age. I now meet the MRA+10 rules and am ineligible for any CSRS refunds. Can I wait until age 60 and qualify for an unreduced annuity under the age 60 with 20 years of service provision? Is it better to take the reduced annuity today? A. Yes, you can wait until age 60 and receive an unreduced annuity. Whether it’s better to take the reduced annuity now or wait until…
Q. I am considering retiring Dec. 31. I turned 62 on April 7, and as of Aug. 28, I will have 42 years and four months of total service. Scenario 1: What if I decide wait until Jan. 2, 2013, to retire instead? Would I get full credit for any unused annual or sick leave I would have accrued if I stayed to the new year? Scenario 2: Will the excess retirement dollars from September 2012 to Dec. 31 (date of retirement) equate to any percentage of annuity or lump-sum payment after I retire? A. You’ll have to check with…
Q. I am considering reinstatement. I was with the Treasury Department for seven years and nine months, and left in January 1981 as Grade 12, Step 1. I received a refund of retirement contributions of approximately $6,000 when I left. How can I approximate what my pension will be if I return to the Treasury Department at a Grade 13, Step 1 and work for 5½ years. How would this calculation work if I wanted to calculate the pension at different dates? At the time I left, I was not required to make Social Security withholdings. I have made Social…