Q. I retired from the Social Security Administration in 2002 with 32 years of service under CSRS. I didn’t work long enough in the private sector to qualify for Social Security at age 62. I’m 63 now and would like to work part-time. Am I still subject to possible offset of my pension if I qualify for Social Security, and are there limits to how much I’m allowed to earn? A. Going to work would not affect your annuity, regardless of how much you earned.
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Q. I am a 66-year-old federal retiree. My Social Security statement says my benefit at 66 is $1,004 per month, and I have less than 25 years of substantial earnings. Because of my federal retirement, I know my benefit will be reduced, but by how much? Some Social Security information seems to say it will be reduced by about 50 percent; other information leads me to believe the maximum reduction is $362 per month. A. Go to http://ssa.gov/estimator and use the benefits calculator provided by the Social Security Administration.
Q. My son David is a federal employee under FERS who recently suffered severe mental health problems. 1. If David resigns his federal position, will he be eligible to apply for a medical disability retirement after the date of submitting his resignation? 2. Is there any waiver(s) for the requirement of applying for Social Security Insurance prior to submitting an application for a medical retirement? A. 1. Yes, he can file for disability retirement after he resigns. However, it would be better if he began the application process before that, because his agency has a role to fulfill which would…
Q. As a FERS employee retiring at the end of March after 27+ years at age 65. How will the sequestration and continuing resolution affect when I will get my check for unused annual leave? Will there be any effect on the delivery of my first annuity and Social Security checks? A. There shouldn’t be any delay in the delivery of your annuity and Social Security checks. Whether there would be a delay in your lump-sum annual leave payment is something that only your agency can answer.
Q. I am 59 years old and covered under Federal Employees Health Benefits as the spouse of a CSRS annuitant. Due to a covered disability, I have been receiving Social Security Disability Benefits for the past 18 months and was just advised that I will be eligible for Medicare Parts A and B in June. If I decline Part B and decide to take it later, will I be subject to the Medicare Premium penalty? A. Yes.
Q. I am a FERS employee with serious medical issues. If I apply for a disability retirement, I will be required to submit an application for immediate retirement. According to the instructions on this application, most annuities begin the first day of the month after separation. How does this work if my request needs to be approved by Social Security? If it were denied by Social Security, then what would happen to my annuity? A. Because you are a FERS employee, if you apply for disability retirement, you must also apply for a Social Security disability benefit. Your receipt of…
Q. I am a FERS employee with 23+ years of federal service and 62 years old. My agency is offering Voluntary Separation Incentive Pay to eligible employees, including those who are retirement-eligible. Would the incentive reduce the amount of Social Security I can draw this year? A. VSIPs are considered earned income. To find out if accepting one would affect your Social Security benefit, go to www.socialsecurity.gov/retire2/rule.htm and see how the “first year rule” would apply to your situation.
Q. In 2012, what were the limitations for self-employment income for the first year of retirement, which was also the first year I received Social Security benefits? A. You’ll find what you’re looking for at www.socialsecurity.gov/retire2/rule.htm.
Q. I am 51 years old and have 16 years of 6c time in federal law enforcement. I am also a veteran and bought back 11 years of active-duty time, bringing my total federal time to 27 years. I am considering leaving the government for a position with a private company. I want to make sure I understand what I would give up before I leave, and it is my understanding that my benefits would be based on a straight 1.0 percent per year vice 1.7 percent since I will not have completed 20 years of 6c time. I am…
Q. I am 52 years old and have 22 years of federal employment. Can I retire? If so, how soon can I receive monthly payments, and how much would they be reduced by? How would this affect my Social Security benefits later? Also, how would this affect my medical insurance? A. Unless you are a special category employee, such as a law enforcement officer or a firefighter, you don’t meet the age and service requirements to retire. For FERS employees, these are: age 62 with five years of service, 60 with 20, at your minimum retirement age (MRA) with 30, and…