Q. Is there a calculator where you can enter your service type (FERS vs. CSRS), military buyback years and months, current high-3 and projected retirement age to get an accurate retirement estimate? A. You’ll find what you’re looking for at www.fedbens.us.
Browsing: RETIREMENT
Q. My husband resigned from a Defense Department agency (non-civil service) after 29 years to work in the private sector. He was under CSRS, never converting to FERS. Before his resignation 10 years ago, he spoke to the agency’s personnel retirement representatives and was told he would still be able to collect retirement but only after he reached the age of 62. They told him that he should start the retirement paperwork six months from his 62nd birthday. Is this information correct? Does he lose the 2 percent for each year under the age of 62 he was when he…
Q. I’m looking to retire sometime this year. I turn 66 on April 2, have 13 years at the Veterans Affairs Department, from which I withdrew funds. I worked in the private sector until 1995, when I started working for the Postal Service. I am under CSRS Offset, and I have essentially bought back my four years in the military. So the total years at the Postal Service would be 18 years + 4 years military = 22 years. Can you explain to me how the offset will apply to me? Will I be able to receive Social Security?
Q. I am going to retire Jan. 1, 2014, and I realize that my modified adjusted gross income will cause my Medicare Part B premium to at least double. But once I retire, my income will go down. Does the Medicare Part B premium get adjusted annually? Or is it set for life as of your retirement date?
Q. I’m thinking about applying for a Transportation Security Administration position in Denver. How many years would I need to work to get health benefit coverage at retirement?
Q. I am under FERS with a CSRS component (10 years CSRS, 15-year break, FERS for the past 20 years). If my spouse receives Social Security benefits based on my work history and I predecease him, and he begins receiving an annuity, will his Social Security payments be reduced or possibly eliminated under the government pension offset? He has enough quarters to qualify on his own record and is receiving payments now. However, under my records, his payments would be higher. I will retire in a year, at age 66, and would like to know before we request that his…
Q. I retired in 2011 with 30 years and three months employment with the Postal Service at the age of 56 years and six months with a CSRS pension. I had 32 quarters of paying in to Social Security when I retired. I worked part time from June 2012 to October 2012 for an insurance company and earned about $6,200. How many more quarters do I have to go to receive a supplemental Social Security pension, and is it also true that I will only receive about one-third of what I would normally be entitled to? A. You have already…
Q. I have a little over 13 years of FERS service. I am 51 years old. I originally planned on retiring at 56 (MRA+10) but I have recently been contemplating retiring now under a deferred retirement. 1. If I retire now (deferred), will I be able to draw the retirement at 56, or will I have to wait until age 62? 2. If I choose to withdraw my retirement versus defer it, is there a calculator somewhere that can give me a general idea of how much I would get? A. You can’t retire. What you can do is resign…
Q. As of January, I had 36 years of creditable federal service for retirement. This is based on a federal retirement benefits estimate I received from a company contracted by my agency to provide this service. I was on leave without pay while in a master’s degree program from June 23, 1984, to June 7, 1986. The company providing the benefits estimate counted all of this time as creditable for retirement. Is this correct, or would I only be allowed credit for a maximum of six months during each of the three calendar years covered by the leave without pay?…
Q. Before retirement under FERS, I canceled my Federal Employees Health Benefits to be covered by my wife’s FEHB. Now my wife is resigning. She has no minimum retirement age with 25 years. She will not be allowed to continue FEHB. Am I allowed to re-enroll in self and family (code 2F) as a retiree with 35 years (33 self, two under wife) of FEHB? If I am, how soon can I re-enroll? A. Yes. And you can do it from 31 days before the loss of coverage through 60 days after.