Browsing: retired

Q. My father was a retired (1979) federal employee receiving monthly retirement payments via direct deposit. He died last week. 1. What do I need to do? 2. Who do I notify to stop his monthly retired pay and to initiate the process for obtaining his government life insurance? A. You need to call the Office of Personnel Management’s Retirement Information Office at 888-767-6738. Make sure to have your father’s full name, Social Security number, date of birth and Civil Service Annuity number at hand when you do that. The benefits specialist will send you the paperwork you need to…

Q. I have asked Medicare directly why I need Medicare Part B. I am a 100 percent disabled veteran and a retired federal employee. As a 100 percent disabled veteran, I receive all medical care and prescriptions directly from the Veterans Affairs Department. No one seems to know if I do or do not need Medicare Part B other than to give the government a $100-a-month premium. Why can’t anyone answer this question? A. The reason no one can answer that question is because one size doesn’t fit all. Whether Medicare Part B is right or wrong for you is…

Q: I retired under CSRS in 2005 after 23 years with the Secret Service as an 1811 LEO. Private employment has permitted me to acquire enough earned SS credits to qualify for $1,028 per month at 62 years of age. My wife has also been privately employed for 35 years and has earned Social Security credits to qualify for $923 per month at 62. What impact will GPO and WEP have on my Social Security benefits? Does it make a difference if I apply for Social Security benefits before my wife (I’m six months older) with respect to survivor benefits?…

Q: I retired in 2010 from the Defense Department with 40 years, four months and 13 days of service under CSRS. I”am 62 and have 23 Social Security quarters, so I need 17. My wife of 23 years is 59 and getting Social Security Disability. Could I borrow the remaining quarters from her? A: No, you cannot. You’ll have to earn them yourself.

Q.  I’m planning to retire early this year.  After carrying a 240-hour leave balance into 2012, I’d like to work until mid-February, then use up the 240-plus hours of leave until I return to the office on my separation date the last Friday of March.  Over the past five years, my unit has consistently hassled me when I request leave well in advance of the desired dates; I’ve reason to be concerned it could be much worse this time.  My question(s):  Is an employee entitled to take earned leave in this way, as a sort of “terminal leave?”  Can an organization…

Q: My spouse and I are retired federal employees with an annuity. I retired in 2001 with 12 years of service. We have had continual coverage with FEHB for the past 40 years. We have the Self & Family plan with my spouse as the member and I am the dependent. I would like to know if I am eligible for coverage under my own self only policy? If eligible, when can I request the change, any time or just during open season? A: You can only change to a self only policy if your spouse changes his/her coverage to…

Q: I retired on May 31 at age 57. I have 22 years of law enforcement service with the Bureau of Prisons. I have just taken another job and realize I will lose about $12,000 a year because of the means test for the supplemental. A friend told me I will lose the supplemental forever once I exceed the limits. I want to retire from this non-government job in two years. Can I collect the supplemental for the last three years until I become eligible for Social Security at age 62? A: Your friend is misinformed. While it’s true that…

Q: I am a retired federal employee and I was receiving a monthly annuity of $4,200, but when I recently turned 62, OPM reduced my annuity to $3,550, and told me it was because I was eligible to collect Social Security benefits, even though I am not collecting Social Security benefits and do not plan to do so until I am at least 65. I did have two years of active military service, which I paid for while I was working, so that those two years would be figured into my annuity calculation. It appears to me that the federal…

Q.  Here is a question that nobody seems to know the answer, I am hoping someone on staff can answer the question.  I retired from the U.S. military and am receiving retired pay and VA disability at 60 percent.  I am paying monthly allotments to buy back my military time.  So I am getting military retirement /CPRD & VA disability (service connected).  When I retire from federal service under FERS and waive my military retired pay, do I still keep my VA payments for service disability? Simply put, can you receive a FERS retirement and VA disability even though you waived your military retirement…

Q. I took my retirement money in 1990 after 15 years of service. Now they want $40,000 to get that time back. If I pay $20,000, will the interest keep going up on the $40,000 or $20,000? I’m in the offset program; should I pay this back or not? A. Interest only accumulates on the unpaid balance. Whether you should redeposit that money is a financial decision, one that comes in the answers to two questions. First, how much more will you get in your annuity and for how long? Second, how much could you earn with the money if…

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