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…
Browsing: VERA
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. I’m a CSRS employee. Is it possible to take a penalty retirement with age (55) and less than 30 years of service? What about 30+ years but not 55? A. The only way you could retire without being at least 55 and having at least 30 years of service would be if your agency offered you an opportunity to retire early under the Voluntary Early Retirement Authority. Employees who have at least 20 years of service can retire at age 50 or with 25 at any age. However, if they are under age 55, their annuities will be permanently…
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. Our agency is offering VERA, closing at the end of the month. My husband has 20 years of service and will be 50 years old two weeks later. Is there way for the agency to allow him to use leave or leave without pay to reach eligibility? Or would they have to extend the closing date for all employees? He’s also subject to involuntary relocation due to transfer of function if he isn’t able to do the VERA? A. VERAs have a fixed beginning date and, while they can be terminated earlier than the announced closing date, they can’t be…
Q. I am a FERS employee working at an Air Force base with the Defense Department. I have about 31½ years service and am 62 years old. During the last year, my base has offered two VSIP/VERA opportunities to reduce the manning levels to what they were in 2010 and accommodate some reorganizing, and I hear they will be making a third offer in May. I applied for the last two and was denied for both. I was told by my management that our wing organization had vacant slots they could give up so a person could be offered a…
Q. I would like to know if taking a Voluntary Early Retirement Authority/Voluntary Separation Incentive Payment under a round of base closure and realignment changes any of the issues with the minimum age requirement for receiving the FERS supplement. I thought I would receive the supplement, although I had not reached age 56 when I retired June 30, 2010. Information posted on the Navy’s Human Resources website reads: “The annuity supplement is a benefit paid, until age 62, to certain FERS employees who retire before age 62 and are entitled to an immediate annuity. The supplement approximates the value of…
Q. I recently completed 25 years of service with the U.S. Postal Service as a FERS employee. I’m 47 years old (I’ll be 48 on Nov. 25). If VERA is offered, will I be eligible? How could this benefit me? I’m not enrolled in the Federal Employees Health Benefits plan. I chose to withdraw years ago because I have another full-time job in which I have health benefits and do not plan to leave any time soon. A. It’s up to you to figure out if accepting early retirement would benefit you. If you accepted the offer, you’d receive an…
Q. I am a 58-year-old FERS employee. I will have 25 years of creditable service in November, and I would like to retire. Is it wise to do so, or do I have to wait for VERA? A. If you retire before your agency offers you a VERA, you’ll be retiring under the minimum retirement age +10 provision. Not only would your annuity be reduced by 5 percent for every year you are under age 62 but you wouldn’t be eligible to receive the special retirement supplement.