Q I have been an air traffic controller since November 1985. I was born in 1960. If I work until I am 56 (mandatory retirement), am I then, or at anytime, eligible for the 1.7 percent calculator for all the 30+ years I am employed? A. If you are an ATCS with 30+ years and retire at age 56, you have the option of the regular computation, 20 years at 1.7% and remaining years at 1%, or all years at 1.7%, however, if you choose the 1.7% for all years, you would get no cost of living adjustment until you…
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Q. I have a question. I have 2,300 hours of sick leave. I am under CSRS. I have been having some back problems that will require extended sick leave. I am eligible to retire with 37.5 years of service. My question is this: Is it more advantageous to take a year off on sick leave or to retire and use the sick leave as an additional year of service? I know it adds 2 percent for the sick leave. A. You have a bigger problem than deciding which approach is the most advantageous to you. You aren’t the only player…
Q. I have been having trouble finding an answer to this question: I served four years on active duty (1987-1991) and was hired at the Postal Service in 1995. In 2000 I joined the Marine reserves and plan on retiring from both the reserves and the Postal Service. The post office says I can buy back those four years and apply it to my postal retirement and it not affect my reserve retirement. My question is: Can I use it for both? I have found nothing in writing that says I cannot do this and the Postal Service says I…
Q. I am ATC with 20 years good time. My 50th birthday is Nov.1 . Can I retire on Oct.31, using the assumption that the day before your birthday is used in determing retirement age? Where can I find this info? A. You are correct. Your agency will be able to find proof of that by reading Retirement Counselor Letter No. 88-304, which I signed on June 23, 1988, when I was OPM’s assistant director for retirement and insurance policy.
Q. I will be retiring Jan. 31, 2011 with over 25 years of federal service, but open season will be closed. My current provider does not cover the area I am moving to (North Carolina). If I continue with my current plan until I retire, will I be able to choose another plan at my retirement? A. Yes, you will be able to do that.
Q. I am a DoD employee, 51 years old with more than 25 years of service. I am stationed in Germany and will have to sign up for the (PPP) Priority Placement Program in November. My question is, if I am picked up for a job stateside and decide not to accept it, and the Army chooses to release me from service because I turned down a job offer, can I qualify for deferred retirement? A. If you are actually asking if you would qualify for early retirement, the answer is no. However, if you are really asking if you…
Q. I have received a printout showing retirement computation date as follows: Start Date 1/14/78 End date 10/18/91 Years 13 Months 9 Days 5 Annuity Computation Date Start 1/14/78 End 9/30/82 Years 4 Months 8 Days 17 10/1/82 10/18/91 0 0 0 Total 4 8 17 Could you explain what they both indicate? A. No, I can’t. You’ll need to ask the folks who provided you with the printout.
Q: Do partial years of service count toward one’s FERS benefit? As I understand it, if I work exactly 22 years in federal service, am at least 60 years old and my high-3 is $60,000, my benefit is equal to 22 x 1.1% x $60,000 = $14,520. If I work exactly 22 years and three months, is my benefit equal to 22.25 x 1.1% x $60,000 = $14,685? As I understand it, partial months are dropped, so if I work exactly 22 years, three months and 18 days, my benefit would still be $14,685. I really did try to find…
Q: I know that unused annual and compensatory leave is paid in a lump sum upon retirement. Are unused credit hours also paid out as lump sum? A: Yes. Up to 24 credit hours may be paid in a lump sum at the hourly rate of pay you were earning on the day you retired.
Q: I plan to retire from federal service in a few years under CSRS. I will not receive Social Security benefits. My wife will retire at about the same time with Social Security benefits and a small state pension. I plan to elect a survivor annuity for my wife. If I die before her and she begins receiving the CSRS survivor annuity payments, will her monthly Social Security benefit be reduced due to the windfall elimination provision or any other factor? A: No, her Social Security benefit won’t be reduced. She will be able to receive her earned Social Security…