Q. I am 54 years old with a bit more than 20 years of FERS employment. I believe I will need to quit my job soon due to family medical care reasons. My agency is not offering any early-outs. If I quit before my minimum retirement age of 56, then wait until I am 60 to apply for my annuity, will I face any reduction in annuity due to either being less than 62, or because I resigned prior to my MRA? A. Because you have at least 20 years of service, if you were to resign, you’d be eligible…
Browsing: special retirement supplement
Q. I am a FERS employee, have 28.7 years of service and am 56 years old, which put me in that MRA+10 provision and am eligible for the “federal supplement” check. I’m seven months away from having my five years under my health insurance. Why is it that I can get the OPM to sign a waiver so I can take my health insurance with me under a VERA, yet if I want to go now, I lose it? Or is there a way I can take it with me now regardless? If I could take my health insurance with me…
Q. I am a 54-year-old letter carrier with 23 years of service and eight years 10 months of military service. If the Postal Service offers an early-out incentive upping eligible employees two to three years, will I then be eligible for the special retirement supplement or will I still have to wait until my minimum retirement age? A. You’ll have to wait until you reach your MRA.
Q. I took early retirement from the Postal Service after being refused FERS disability. Since that time I have been awarded full disability from both the Veteran Affairs Department (I am a disabled vet) and Social Security. I have now reached the minimum retirement age and received notice from the Office of Personnel Management that I will be receiving the FERS Annuity Supplement. Am I still qualified for this supplement even though I am receiving Social Security Disability? I don’t want to find out later that I am not and must pay it all back. A. According to OPM, you will…
Q: Are the Social Security supplement and the special retirement supplement automatic, or do you have to contact OPM to set this up at the minimum age of eligibility? I retired at 52.4 years of age and I turn 56 in April. I was wondering if I have to contact OPM to recieve this supplement? A: Payment of the special retirement supplement is automatic.
Q: If an individual retires using an approved VERA at age 53, three years shy of mandatory retirement age, with 28 years of service, will the individual begin collecting the special retirement supplement at age 56 even though retirement occured at age 53? A: Yes, if the individual’s minimum retirement age is 56.
Q: I will have 29 years at the U.S. Postal Service, plus 2,200 hours of sick leave, three years in civil service and 27 under FERS in 2012. Am I eligible for the Social Security supplement at age 56? Does that decrease my FERS annuity or add to it? A: If you meet the age and service requirements to retire on an immediate annuity – in your case, your minimum retirement age plus 30 years of service – you’d receive the special retirement supplement. The SRS approximates the Social Security benefit you earned while employed under FERS, and is added…
Q: I am a FERS employee with 20 years of federal service. My MRA is 57. I am 41 and I will have 30 years of federal service when I reach age 51, at which point I plan on resigning from federal service. Will I receive a full, unreduced annuity if I defer retirement until I reach the MRA of 57? From what I can tell, I will have an unreduced annuity, but will not be eligible for FEHB or the special retirement supplement. Am I correct in my research? A: Assuming you don’t take a refund of your retirement…
Q. I am 54 with 20 years of service under FERS. I’ve been offered the Voluntary Separation Incentive Payments/Voluntary Early Retirement Authority, but do not want to retire yet. I would not receive much in retirement. What are my rights under involuntary separation? A. If you were involuntarily separated, you would be eligible for immediate retirement, just as you would if you accepted an offer of voluntary retirement and/or a buyout. In the same way, you’d receive the special retirement supplement when you reach your minimum retirement age. Because you would be eligible for an immediate annuity when you separated, you wouldn’t…
Q. I retired at 54 under the Voluntary Early Retirement Authority and am eligible for the supplement at 56, which is two months away. Since I been in the FERS retirement system for two years, will my special supplement start automatically or do I have to apply for it? If it does start automatically, about what time frame can I expect notification from the OPM about the change in my annuity, or will they just start it and will need to keep checking my account? A. You will begin receiving the special retirement supplement automatically. I have no idea when…