Q. I’m retired from the Postal Service, and I would like to know if the USPS offers supplement insurance through the Medicare D program? Will I need to go outside of the Postal Service for my supplement insurance? I turn 65 in January. A. Neither the Postal Service nor any other agency of government offers supplemental insurance. You’re on your own.
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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.
Q. My human resources staff calculated my estimated Social Security FERS supplement, and it is considerably lower than my Social Security calculation (calculated to initiate at age 62). I am retiring at 56 with 34 years. The HR staff has stated that they do not have the formula but only enter the numbers in a program estimator. The FERS handbook says the FERS Social Security supplement approximates the Social Security annuity. The FERS Social Security supplement doesn’t seem like a very close approximation. The FERS Social Security supplement calculates out at approximately $11,000, and the Social Security annuity is approximately $17,000. If I…
Q. If I retire on Dec. 31 with 30 years at age 57 with a buyout, when will I receive my final paycheck, lump-sum buyout payment and my first FERS retirement annuity and supplement pay? A. Only your agency payroll office can tell you when you’ll receive your final paycheck and lump-sum buyout payment. And only the Office of Personnel Management knows when you’ll receive your first annuity interim payment, which won’t include the special retirement supplement. You’ll only get that when you receive your first full annuity payment, which will include any amounts you are owed for both benefits. There…
Q: My question is regarding Social Security supplements. I am a 50-year-old law enforcement officer who has met my 20 years of civilian government service. I know that when I am eligible to apply for Social Security benefits, I will be asked for proof of my military service (via DD 214). I am being told that if I give Social Security proof of my service at retirement time, I will get extra on my Social Security supplement in the meantime. Is there any truth to that? A: No. The special retirement supplement is based solely on a retiree’s total years…