Q. When I retire, will i get paid for compensatory time? A. Any comp time you have to your credit when you retire will be paid at the hourly rate in effect when it was earned.
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Q. I am considering retirement under the MRA+10 provision and postponing my annuity until I reach age 62. If I follow this course, am I eligible to sell back any unused annual leave without penalty? A. Your unused annual leave will automatically be paid to you in a lump sum when you separate from the government.
Q. I am a 56-year-old retired military man. I have 10 years in with civil service. I have filed for military disability due to health problems associated with my military career. Can I draw 100 percent disability from the VA and file for disability from my civil service job and Social Security? If so, how does one calculate the resulting monthly payment? A. If you are approved for disability retirement, your annuity for the first 12 months would be 60 percent of your high-3, minus 100 percent of any Social Security disability benefit to which you are entitled. After that,…
Q: I am a 57-year-old CSRS employee with 35 1/2 years creditable service. I am eligible to retire now (since June 21, 2009) but enjoy the challenge of my job, so I have stayed on. I gave serious consideration to retiring Dec. 31, 2011, but I am not 100 percent certain that is what I want to do (my wife wants to work a while longer). Am I running a risk of losing any benefits by staying a while longer? What is the minimum amount of time required after mailing my retirement application, and the effective date I retire? A:…
Q: My husband and I work for the post office – he will retire soon and I will carry the health insurance and leave with a deferred retirement in a few years – at 45 with 20 years – what happens to the health benefits? A: Your husband would be able to continue the self and family coverage under Code 1M of the Table of Permissible Changes in Enrollment.
Q: I plan to retire this year. I am under CSRS. I understand the WEP for me but have some doubts about the Social Security benefits of my wife. She has been paying Social Security all her life and never worked for a government with another type of pension. Is her Social Security retirement affected because of me? If I choose a survivor benefit, how is that going to affect her Social Security? A: The fact that you will receive a benefit from a retirement system where you didn’t pay Social Security taxes will have no affect on her own…
Q: I will become eligible for Tricare in March. Is there a need for me to continue coverage with FEHBP and if not, can I drop my coverage before the end of the fiscal year? I don’t turn 60 until March, which is when I become officially retired from the military reserve. A: You can apply to suspend your FEHB coverage at any time. To do that, you must submit a completed suspension form and provide necessary documentation to show eligibility for Tricare or CHAMPVA during the period beginning 31 days before and ending 31 days after the date you…
Q. My wife, age 63, is retired from FERS and draws a monthly retirement check. When I turn 67 in three years and begin drawing my Social Security benefit, is she able to draw a spousal Social Security benefit (50 percent of mine) as well as her full FERS retirement check? A. You’ll find the answer at www.socialsecurity.gov/OACT/quickcalc/spouse.html.
Q: I am a CSRS employee who plans to retire on my 55th birthday Sept. 22 with 33 years of service. Can I retire at the close of business Sept. 21 or would it be better to retire at the end of the month on Sept. 29 at close of business with a retirement date set at Sept. 30? Does it make a difference? Can I submit my retirement paperwork a year in advance or should I submit it later? A: The decision is yours to make. If you retire at the end of a pay period, you will get…
Q: I’m eligible to retire in January but am considering working a little longer. With the current federal employment climate, is there any danger in delaying, or should I get out while I can? A: If I examined the entrails of a goat, I might be able to predict the future. Since I won’t, I can’t.