Q: I am a recent federal retiree. I chose to keep basic life insurance only. I read there have been changes regarding election options for FEGLI as of Oct. 1, 2010. Does that mean I can now get Option C for my spouse after I dropped it when I retired? A: No.
Browsing: retired
Q. Is it true that in 2012 retirees will not be able to receive Blue Cross federal coverage? A. No
Q. I have recently retired and understand that a portion of my annuity is tax-free when filing my federal tax return next year. Per the OPM website calculator to determine the tax-free amount, a person needs to know the total amount of retirement withholdings from their paychecks over their career. How do you obtain this figure, as my paystubs while working did not show an accumulated amount for retirement withholdings? A. You will receive that information on a Form 1099-R, which will be sent to you each January by OPM.
Q: My husband payed into a civilian federal employee insurance policy for 28 years. He was riffed and retired in July 2001, but the insurance was still taken out of his retirement check on a monthly basis. He was notified by the federal insurance plan that he was no longer on the insurance plan as of age 65. He is now 67. What happened to the insurance policy and/or it’s value? A: At age 65, his premiums stopped and the value of his Basic insurance began to decline at the rate of 2 percent per month. It will continue to…
Q: I used to work for the U.S. Postal Service, first as a mail handler, clerk, then a letter carrier. I served for about 10 years. I am 55. What would I do to find out if I have benefits and how could I get them? A: If you didn’t take a refund of your retirement contributions when you left government, you would be eligible for a deferred annuity at age 62. To apply for it, two months before you reach age 62, you’d need to complete OPM Form 1496A, Application for Deferred Retirement (available at http://opm.gov/froms/pdf_fill/opm1496a.pdf), and send it…
Q: How do I terminate a retired annuitant from the agreed-upon year of service needed at the time? Will paperwork be needed? What if the service provided by the retired annuitant is not working out for the organization, are we just stuck with the situation or is there a regulation that I can reference to ensure we are not faced with stiff penalties later? A: Re-employed annuitants serve at the will of the appointing officer and can be terminated at any time.
Q: I am retired military with 20 years of active duty. I am a GS-14 with two years of federal service. I am 47 years old. What would the benefit be to buy back my military time? A: If you made a deposit to the civilian retirement system for your 10 years of active-duty service, it would be added to your actual service time in determining your eligibility to retire and, when you retire, your annuity would be 10 percent higher than if you didn’t make a deposit. The deposit required would be 3 percent of your basic active-duty pay,…
Q. I am a federal CSRS retiree and my 2010 monthly Medicare deduction increased from $96.40 to $110.50. My husband is a Social Security retiree only and his Medicare deduction remained the same for 2010 as was withheld in 2009, which was $96.40. In trying to find an answer to this disparity, one Web site tells me: “If you make less than $85,000.00 per year, it will be $96.40 per month. If you make more per year, see the link below for those amounts:” Since my gross monthly annuity is $3514.00 (annual total annuity of $42,168.00), is far less from…
Q. I am a postal employee with 27 years of service. My retirement plan is CSRS. Can I transfer to another branch of the government and transfer this time with me? Will it count toward my civil service retirement? A. Yes, if you transfer to another government agency your service record will transfer with you and that time will count toward the total years needed to retire. A rare exception to that rule would be if you were to transfer to an agency that had its own retirement system and didn’t recognize your prior service.
Q. I need to know the percentage I contributed toward my pension as a retired law enforcement officer ( I retired in 2008), and what percentage the government contributed. A. When you retired, the amount of your own contributions was reported on the package sent to you by OPM. You could also find it on your final pay voucher. To find out what your agency contributed, you’ll have to get that from your former agency. The amount depends on your retirement system and, in the case of FERS, varied over time.