Q. Recently, the Postal Service offered early retirement for clerks with 25 years of service. I started in 1988 but have eight years of leave without pay for Title 10 deployments with the Army Reserve. I am planning to retire from the Army Reserve soon and go back to the Postal Service. Should I buy back my military time in hopes that I can take an early retirement next year if offered? Will I still be able to retire from both employers? A. If you make a deposit for your years of active-duty service, they will be added to your…
Browsing: Early retirement
Q. I am 56 years old with 22 years of service in the Defense Department. Am I eligible to retire early? A. You have the age and service needed for early retirement. However, you can only retire if your agency offers you an opportunity to do so.
Q. I’m 53 with 27 years and 10 months. I could get six months of military service for Army Reserve full-time training credit. I’m in a term position. If I’m given a reduction in force, what are my options? Can I defer my retirement until my minimum retirement age of 56? If so, would I lose my health and insurance benefits? If I’m RIF’ed and do not defer, does that means I lost health benefits? A. If you receive a RIF notice, you have two choices. You can either sit tight and see if you are going to be separated,…
Q. I am 54 and have 24 years with the federal government. I will hit my 25-year mark in November, when I also turn 55. If early-outs are offered, will I be eligible to retire being that I won’t hit 25 years until after October? Also, prior to working for the federal government, I worked for five years with nonappropriated funds. I was originally told by human resources that those years would count toward my service computation. This year, I requested a retirement estimate from HR, and they say those five years don’t count. Is this correct? A. If you…
Q. I retired at almost age 58 with 20½ years’ creditable service in the National Park Service under FERS. I took the 20 percent-plus hit for going before age 62. I am considering a term position with the NPS with retirement benefits. Can I stop my FERS annuity, take the term job, and then retire after I reach 62 so my retirement will be refigured at an older age with more time in service? Do I have to stop the annuity so many days before I take the job? Any other warnings on this situation? A. No, you can’t stop…
Q. I am a federal employee with the Department of Agriculture who will turn 54 on March 18. I have been with USDA for 35 years and eight months. I understand, under CSRS, that the Office of Personnel Management has to approve early retirement for the federal agency I work for before I can take it. Is there is an option under CSRS where I could get early retirement to care for an elderly family member without requiring overall agency approval from OPM? A. No, there isn’t.
Q. I am a federal agent with the Department of Homeland Security. I have 18 years on and am 47 years old. If the furlough goes into effect, and they offer early-outs, is there a way for me to take it? Will I lose a huge chunk of my retirement? Will the deferred annuity work for me? I have a couple of prospects for private-sector employment with great benefit packages. I just would like to know is it worth staying the last two years. A. You don’t meet the age and service requirements for early retirement: age 50 with 20…
Q. I recently retired and was told that I had 30 days to change my mind. I took an early-out Jan. 31. Is that true? A. You can return to work before your annuity is finalized but only if your agency agrees to take you back. It doesn’t have to do that. And it can’t do that if your position has been eliminated or someone else has already filled (or has accepted an offer to fill) your position.
Q. I am 50-year-old FERS employee with 28 years of service. If I am offered an early-out and take it, what would happen to my 578 hours of sick leave? Would I still be entitled to get credit for my unused sick leave? Also, would I be eligible for special retirement supplement? A. If you retire before Jan. 1, 2014, you’ll only get half credit for your unused sick leave in the computation of your annuity. If you retire on or after Jan. 1, you’ll get full credit for it. As for the special retirement supplement, you’ll be entitled to…
Q. My husband has 28 years and I have 27 years under FERS as civilians with the Defense Department (Air Force). My husband has been carrying Federal Employees Health Benefits insurance for our family for the past nine years. If he decides to retire early or prior to me, will he have to select an annuity for me so I would have health insurance coverage if he was to pass? I wouldn’t want to have to continue to work and carry insurance for five years prior to retiring if this is the case. A. He wouldn’t have to elect a…