Browsing: VERA

VERA/VSIP

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Q. I am 53 years  and eight months old, I have 28 years and eight months civil service. I am in FERS. My agency is offering the VERA/VSIP. If I submit an application and I am accepted for either of these would this affect my Social Security supplement? My MRA is 56. Does the MRA change with the VERA/VSIP? A. No, your MRA doesn’t change nor does the amount of the SRS you’re entitled to. They remain the same.

Disability retirement

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Q. I am a retired FERS employee — 59 years old, with 25 years of federal service. I retired two years ago under VERA VSIP. My employer (Defense Department) was reducing the workforce due to budget cuts and abolished my job. I paid into Social Security for 42 years. I have some health issues and am considering applying for Social Security disability. My question is: Will Social Security disability retirement affect my FERS annuity?

FERS and VERA

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Q. If I accept a VERA with just over 30 years of service under FERS at age 54 and with just under 18 months to go before I reach 56 or my MRA, would I still be immediately eligible at early separation for the special retirement supplement under a VERA, or do I have to wait until I turn 56? A. The special retirement supplement will begin when you reach your MRA.

Retirement penalty

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Q. If a VERA/VSIP is offered next year, will I be able to retire without penalty? I will have 29 years of creditable service as of Jan. 23. I will be 56. A. Yes.

VERA/VSIP and retirement benefits

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Q. I am a Defense Department civilian and have met my minimum retirement age. I will not be eligible for full retirement under FERS until September 2015. By then, I will be 60 and will have 30 years of service. If I accepted a VERA/VSIP (I am on the offer list), would I get hit with an annuity reduction if the offer is not the result of a reduction in force? If I could take the offer without a reduction, would I also receive the special retirement supplement?

RIF, VERA, penalty and SRS

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Q. I was born in 1966 and my organization may undergo a reduction in force. I anticipate that I will have the 50 years of age and 20 years of service by the time they may offer the Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. Please let me know if the minimum retirement age counts during a RIF if I am a FERS employee because my MRA is 56½, of which I will only be 50 years of age, so I need to know if I will be penalized 5 percent each year under MRA. Hoping that the 50/20 rule…

VERA

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Q. I am a 48-year-old FERS employee with 25 years of civil service. Our organization has offered a Voluntary Early Retirement Authority. If my organization approves my VERA, when would I be eligible to receive an annuity? Immediately or at age 56? What are the near- and long-term pros and cons of accepting VERA? A. Because you have at least 25 years of service, you would be eligible for an immediate annuity. When you reached your minimum retirement age, you would be entitled to the special retirement supplement. However, if you had earnings from wages or self-employment at the time…

12 questions on VERA

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Q. I am a letter carrier, age 52, started in 1985 and have 28 years of creditable service. If I understand what I’ve gleaned from the posts here and the Postal Service were to offer me a Voluntary Early Retirement Authority this year, 1.  Would I begin my annuity immediately? 2.  Would I have no reductions in calculations of my annuity? (average high-3 x 1 percent x 28) 3.  Would I receive credit for half of my sick leave and all of my annual leave? (How are these applied?) 4.  Would I receive the special retirement supplement beginning at age…

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