Q. I resigned at 56 under FERS after 16 years. I plan on deferring annuity until full benefit at 62. Am I correct that if I take benefit between 57 and 61, I am not entitled to COLA? A. Yes. With the exception of law enforcement officers, firefighters and air traffic controllers, the annuities of FERS retirees are not increased by COLAs until age 62.
Q. What happens if your area’s locality rate increases and you are retired? Will you benefit from the new locality rate as long as you are receiving it from the same area? For example, Norfolk is supposed to have a locality rate change. I retired in 2016. If the locality rate changes, will I receive more retirement?
Q. When I retired from the U.S. Postal Service in 2010, I elected to purchase a survivor annuity for my spouse. Should I survive my spouse, will I be entitled to any of the funds that I paid for the annuity?
Q. I understand that my FERS annuity doesn’t receive COLA increases until age 62. When I do turn 62 does my annuity only increase with subsequent COLA increases or is there a “catch-up” adjustment as well?
Q. There has been talk that the FERS supplemental is going to be done away with. Will it be replaced with another supplemental? What was the purpose of the supplemental in the first place? The cost of living has not gone down — it continues to go up each year. FERS employees will need some to bridge the gap before they can draw Social Security.