Q. I am a part-time flexible clerk who was hired on July 7, 1984. At the time, I was told when I retired my annuity would be figured as if I was a full-time employee. In 2011 I attended a retirement seminar and was told the same thing. You can imagine my surprise when at 57 years old and 32 years of service I received my annuity estimate, and it is prorated at 52 percent: much less then I was told I would receive. What is going on?
A. Hearing that your annuity as a part-time employee would be the same as that of a full-time employee should have raised a red flag. That’s because it couldn’t be true. Annuities are proportional to the number of hours in an employee’s work schedule. A full-time employee would receive a full annuity; a part-time employee, an annuity based on the reduced work schedule. Because you only had retirement deductions taken from your pay for the hours you worked, you shouldn’t expect to receive the same benefit as someone who had twice that amount taken from his pay.