Q. At the age of 56 (born 1958), I will have 27 years of service, but the agency is moving to another location and I would like to retire at that time. Would I be eligible to receive FERS with 27 years at a reduced rate? If eligible, would I also receive the supplemental until Social Security starts at 62? A. If you receive an official notice of separation and aren’t offered an equivalent position within your commuting area, you’d be eligible for early retirement. As such, you’d receive an immediate annuity based on the standard formula (0.01 x high-3…
Browsing: special retirement supplement
Q. I retired from the government Nov. 30, 2011, as a GS-13, age 56 with 30 years of service. I started a new job where my earnings will exceed my previous salary as a fed. I have been receiving partial annuity payments as expected, but the Office of Personnel Management just sent FERS supplement payments for Dec. 11 to March 12. Will I have to repay the supplement for January to March 2012, because my earnings in 2012 have already exceeded the $14,000 maximum additional income limit? The rules I have read talk about calculating the supplement based on earnings…
Q. I am 51 years old with 27 years of service with the Post Office. I am under FERS. Half of my 27 years have been in a part-time regular position (24 hours per week). The last three years, I have been in full-time status. I am thinking of retiring if a VERA is offered. How are creditable years accrued? Will I be eligible? Will I have added deductions? I am worried if I don’t retire when the next VERA is offered, the supplemental retirement pay will be eliminated before I reach 56 (my minimum retirement age) and I would…
Q. I am a civilian with the Department of Defense and have almost 28 years under FERS. I will be 59 years old in June. If offered a voluntary early retirement at the end of 2012, will I be eligible for the special retirement supplement earlier than my 60th birthday (six months prior to June 2013)? If I will be eligible for SRS before my 60th birthday, will I remain fully eligible until I am 62? Additionally, if a person goes out on a voluntary early retirement, are they eligible for unemployment insurance compensation, or is that a state issue?…
Q. My agency is offering a Voluntary Early Retirement Authority. I am just a few months shy of meeting the 20-year requirement to qualify for the VERA. If further reductions are still needed and a reduction in force occurs, thereafter, would I be able to retire during the RIF without a reduction in annuity and with the supplement? (I am FERS and will be at my minimum retirement age of 56 with 20 years in July.) Also, is the FERS supplement being taken away by Congress? A. If you met the age and service requirements when the RIF occurred, you…
Q. My agency (Interior) has put out notice it will be offering a Voluntary Early Retirement Authority to all employees ending in September. My service computation date is Sept. 19, 1984. I have over 20 years in covered 6c (law enforcement) positions, and over 25 in federal service. I am 46 years old. I qualify based on the 25 years at any age for VERA. However, I am wondering if I will receive the enhanced annuity under 5 USC 8415(d) for the over 20 years law enforcement service. (I do not have 25 years covered 6c as stated in 5…
Q. I am 57 years old and will be 58 on Sept. 19. I will have 30 years of federal service on Jan. 25, 2013, and am covered under FERS. Can I retire on Dec. 28 and still get the Social Security supplement? I am aware that there will be a penalty for retiring before I have my 30 years, but that should be minimal as it is only for one month at a penalty of 5 percent per year. Is that correct? Or is the penalty for 5 percent per year until I reach age 62? A. Because you…
Q. I am an air traffic controller and will be retiring at the end of May at age 51 with 22 years of service. I’m being told the Social Security supplement portion of my retirement will come six to eight months after I leave, and it will not be retroactive. This doesn’t seem accurate as this is a integral part of my three-tier pension system. Am I getting correct information? A. Whoever told you that was mistaken. When you begin receiving your full annuity payment, you’ll be sent a catch-up payment for the money you didn’t get because you were…
Q. I am an employee under FERS with a hire date of Sept. 8, 1987. I plan on retiring the day after my 56th birthday in 2012 under the minimum retirement age provision. Am I eligible for the FERS supplemental annuity if the decision to retire is voluntary? A. No one who retires under the MRA+10 provision is eligible to receive the special retirement supplement.
Q. I’m a FERS retiree under the special law enforcement provision. I understand that after a retiree reaches the minimum retirement age, the FERS supplement is subject to the earnings test. I will hit my MRA in October. Will the cap apply immediately for this year, or does it begin in the first full year after you hit the MRA? A. The earnings test will apply in the year you first become eligible for the special retirement supplement. To see how that is done, go to www.opm.gov/retire/pubs/handbook/C051 and scroll down to Section 51A3.1-1C.