Q: Nobody can seem to give me a straight answer to this question: I’m 59 years old and under the Federal Employees Retirement System, with 18 years of service. I had heart bypass surgery four years ago, and I’m now having complications. Because I have to have 20 years of service to qualify for a pension, it appears that my wife will not get my pension if I die before I hit the 20-year mark, which is 20 months away. However, I have reached the minimum retirement age, so if something happens soon, can my wife get my pension, less…
Browsing: Survivor annuities
Q: My wife and I are both 30-year Civil Service Retirement System employees. We have attended several retirement seminars and hear differing views as to whether we should both choose full survivor benefits at time of retirement. Is there a general rule of thumb, or does it depend on what the surviving spouse feels they could live with? A: Let’s begin at the beginning. Both of you are required by law to provide a full survivor annuity to your spouse unless you agree in writing to provide less than that (or nothing at all). As you suspected, there is no…