Q. I am a FERS employee in the process of buying back my military time — however, I am not sure if there is an advantage to it. If I buy back my military time (13 years, at a cost of $7,367.50), have a service computation date of September 1984 for federal service and am 58, what possible benefit could be gained? If an early retirement is offered, would I be eligible, and if so, would it be beneficial to accept early retirement —- or stay until I am 62 to 65? A. If you completed your deposit, you’d be…
Browsing: service computation date
Q. I had bought back my military time (three years) when I was hired at the Postal Service. My hire date was April 15, 1985. My pension shows my service computation date as 1982 as it should, but I am getting conflicting answers on my special supplement. One video I watched says I can’t get creditable service time for those years because I served prior to being hired here. Now I read some of these articles and people are being told that as long as you buy the time back, you should receive credit toward the special retirement supplement. I…
Q. I will have 15 years of federal service on Dec. 7, and have been looking forward to accruing eight hours of leave per pay period. Because my service computation date falls in the middle of a pay period, I am expecting to have to wait to start accruing my eight hours during the next full pay period starting Dec. 16. Because my SCD is so late in the calendar year, I am starting to feel like I won’t really benefit from my accrual “upgrade” until two full pay periods later. Here’s my logic: If I remained (hypothetically) at six hours per…
Q. July 2009 was my official government start date. However, I was a contractor to the government in the same agency prior to this time, from April 2005 to July 2009. I was credited service time for leave by the executive officer for the time I worked as a contractor. Therefore, on my SF-50, line 31 lists my service date (leave) time as April 2005. Do I get credit toward retirement for the April 2005 date? How can I confirm what service date applies for pension? Can I access this? Or is the SF-50 the only source which confirms I…
Q. My service computation date is July 15, 1978. I turn 55 on May 10, 2013. Would it be wise to continue to work until I am 60? I am in CSRS. A. “Would it be wise?” This is a question that only you can answer. All I can tell you is that your annuity would be increased by 2 percent of your high-3 for every additional year you work.
Q. I am a 6c federal employee with a retirement 6c date of Sept. 28, 1996, and because of my 11 years of military service and buyback, I have a retirement service computation date of Aug. 26, 1985. I am four years away from 20 years of 6c time. However, I might have an opportunity to pursue a career in which I could make substantially more with the ability of working until age 65 if I desire. I should also point out that after my 11 years of military service, I continued with the reserves and will obtain a military…
Q. I am a 64-year-old with the Defense Department and have FERS retirement. My service computation date is Feb. 4, 2004. I am planning on retiring within the next year and want to know if my retirement, which I will get for the last 10 years under FERS, will be deducted from my Social Security, for which I have more than 40 credits? I was under the impression that CSRS employees were the ones who had the offset and FERS did not. Am I correct? A. Since your only federal service is under FERS, you won’t be subject to the…
Q. I am a civilian employee and have been continuously employed by the Department of Justice and then the Environmental Protection Agency since September 1994. I also had one year of federal service from 1986 to 1987, as a judicial law clerk for the Ninth Circuit. My pay stub says my service computation date is September 1993; however, my HR office says it is September 1994 and that the earlier year doesn’t count. First, which SCD is accurate? Or what further facts would you need to determine that? Second, when would I be eligible for a VERA, if my agency…
Q. I receive regular 20-year active-duty military retirement pay. If I accepted a temporary position (i.e. not to exceed one year), would my salary be offset by my retirement or would I be able to collect both? Also, when I was young, I worked for a federal government agency as a stay-in-schooler. I am trying to find out if my temporary federal government employment from 1985 through 1988 can be credited toward my service computation date once I find a permanent/career-status federal position. A. Taking a federal job of any sort will not affect your military retired pay. You’ll be…
Q. “All eligible employees who want to retire by Sept. 30 are offered at this time.” I’m one of them. I’m 55 and will be 56 on Oct. 7. I want to retire. I have 22 years of federal service at this time (FERS). If I retire, can I draw my FERS annuity supplement as soon as I turn 56, or would I need to wait until they offer the early-out again? My service computation date is Jan. 3, 1990. A. You would receive the special retirement supplement as soon as you reached your minimum retirement age, which is 56.