Q. I accepted a buyout in 1997 under the Federal Employees Retirement System. I had 22 years of continuous service at that time but was under age 50, so I couldn’t retire. In February, I will be 60 and eligible to receive my pension. I was covered by the federal health insurance program for my entire federal career. Can I opt into it when I start receiving my benefits in February? A. No, you can’t. Anyone receiving a deferred annuity, like you will be, can’t re-enroll in the Federal Employees Health Benefits program.
Browsing: Deferred annuity
Q. I had 22 years of service when I resigned from the government in July 2010 at age 55. I am under the Civil Service Retirement System. I worked for Department of Agriculture from 1972 to 1978 and returned from 1994 to 2010. I would like to know when I can get some of my retirement monthly. A. Assuming that you didn’t take a refund of your retirement contributions, you can apply for a deferred annuity at age 62.
Q. I was born in 1952. I began working for the federal government in 1977 under CSRS, transferred to FERS in 1988, and resigned from federal employment in 2001. I expect to apply for a deferred retirement annuity. Will my deferred annuity be greater if it begins when I am age 62 (in 2014), rather than when I am age 60 (in 2012)? A. It makes no difference. Since your deferred annuity will be computed as if you had retired on the day you left government, you might as well apply at the earliest possible date. Since you had a combined…
Q. I separated from federal service 11 years ago with 19 years covered under the FERS program. I have requested my separation papers and have not been able to determine if I am eligible for a deferred annuity. Is there a way I can check to see if I received my retirement funds upon separation or if I am still eligible for a deferred benefit? A. Send your request for information to: OPM Retirement Operations Division P.O. Box 45 Boyers. PA 16017-0045 Be sure to include as much information as you can, e.g, your full name, date of birth, Social…
Q. I am a 43-year-old federal law enforcement officer with 20 years of service. I know that I can retire at 25 years of service at age 48 and receive a pension of 39 percent. Can I retire early with the 20 years and receive a reduced pension? How much would it be reduced by? A. You don’t meet the criteria to retire under any scenario. If you are determined to leave, you could resign and apply for a deferred annuity at your minimum retirement age, which would be 56 years, eight months if you were born in 1968 or…
Q: I was active-duty Navy for five years, then worked for the U.S. Postal Service under the Federal Employees Retirement System for seven years, during which time I bought back my military time. After 9/11, I went back into military service (active-duty Army), and I will retire with 20 years active service. Who do I need to contact to get a refund of my deposit with the USPS? A: While you can’t get a refund solely of your deposit for active-duty service, you can get a refund of all your contributions and deposits to the retirement fund. Download a copy…
Q: I asked my HR person if I could retire this September and this is the answer: “I’m sorry but you will not be able to retire in September of this year. What you could do is resign and request a deferred annuity from OPM. Your annuity commencement date would be 2/6/2016. Otherwise you will have to wait until 3/13/2012 for voluntary retirement or 2/6/2012 to become eligible for the MRA +10 option.” What is the difference in money and time for starting monthly checks between regular retirement and the MRA + 10 option? A: While there is no difference in…
Q: I have eight years of work under FERS and will be 62 in a few years. I have left the civil service and understand that age 62 is the minimum age I can receive a deferred annuity. Is there any increase in the annuity if I wait a year or more after age 62 before filing? A: No. Your annuity will be based on your high-3 and years and full months of service on the day you left government.
Q: I am a reservist and had 8 1/2 years of civilian federal service (under FERS) when I was recalled to active duty right after 9/11. I have been a reservist on active duty for the past 10 years and am still on leave without pay status (LWOP) with the agency I was recalled from. How long would I have to return to the agency in order to make a deposit on my 10 years of active duty? I have about 80 hours of leave on the books. Is there a certain time period that I would have to return to the agency to…
Q: I am 58 years old and left the Postal Service in 1999. I have 10 years of credited service under FERS. Am I eligible for retirement benefits now or must I wait until normal retirement age? A: If you didn’t take a refund of your retirement contributions when you left, you’ll be eligible for a deferred annuity at age 62.