Q: I transferred to the Federal Employees Retirement System from the Civil Service Retirement System during the 1998 open season. At the time of my transfer, I had accumulated 1,675 hours of sick leave. I understood at the time that the credit for sick leave to be applied toward my retirement would be the lesser of my balance at the time of my retirement or the 1,675 hours, whichever was less. This amount would be applied to the CSRS component. I now have 2,544 hours of sick leave accumulated. I have accumulated an additional 869 hours of sick leave since…
Browsing: FERS
Q: My question is about the original conversion of retirement withholding, which was converted to Federal Employees Retirement System. I began working for the government in October 1984. So, I was hired as a FERS employee. In 1987, when FERS was officially set up and the money that had been withheld from our paychecks was placed in our FERS accounts, I had $660, which stayed in a Civil Service Retirement System marked account. It stayed there for many years until I switched agencies, and it was no longer listed on my Leave and Earnings Statement. My question is, what exactly…
Q: I have 12 years of legislative work experience working for Congress and 10 years of administration work experience, and I’m in the Federal Employees Retirement System. For the FERS retirement formula, is it high-3 X 1.7% X 12, and then high-3 X 1% X 10? Are my 12 years of legislative experience treated with a different rate multiplier than administrative years? A: Yes, your time as a Hill staffer will be computed using the 0.017 multiplier; all additional years of service will be multiplied by 0.01.
Q: I understand that President Barack Obama has approved Federal Employees Retirement System employees to receive service credit for unused sick leave. My question involves retirement prior to January 1, 2014, where an employee receives service credit for half of their unused sick leave. Does half of the sick leave have to be in whole months? Example: If an employee has 2,000 hours of sick leave upon retirement, this employee would have 11 months of service credit. At the half rate, would the employee be reduced to five-and-a-half months, or would the benefit reduce to five months (since only full…
Q: In the Federal Employees Retirement System, when can we take sick-leave cash? Only at retirement or before? A: Regardless of whether you are covered by the Civil Service Retirement System or FERS, you can never cash in your sick leave. It has no cash value.
Q: I am retired from the Army and receive retired pay and disability pay. I am also a civilian employee under the Federal Employees Retirement System. When I am eligible to retire, will I be paid my military retired pay, disability pay, retirement pay as a civilian employee and also receive my Social Security? Would it be advantageous to sell back my military time to incorporate it into my civilian time under FERS? If I do sell back my military time, do I forfeit continuance of my military retired pay? A: If you retire without making a deposit to the…
Q: I have 12 years of legislative work experience (working for Congress) and 10 years of administration work experience. I’m in Federal Employees Retirement System. My question is, for FERS retirement formula, is it high 3 X 1.7% X 12 and then high 3 X 1.0% X 10? Are my 12 years of legislative experience treated with a different rate multiplier than administrative years? A: Yes, your time as a Hill staffer will be computed using the 0.017 multiplier; all additional years of service will be multiplied by 0.01.
Q: I started my federal career Oct. 16, 1983, and had a break in service of three months in 1987, which caused me to have a new service comp date of Jan. 21, 1984. However, I remained a Civil Service Retirement System employee until voluntarily changing to Federal Employees Retirement System in May 1998. I resigned from federal service in June 2004. I left my retirement money in, but withdrew all my Thrift Savings Plan money, which I rolled into an IRA. In reading through all the literature available, it is my best reasoning that I will be entitled to…
Q: I was drafted in January 1966 spent 1967 in Vietnam. I have been a civil servant with the Defense Department since April 1985. I’m 63 and would like to retire in the next 3 years. To have the 18 months of my Vietnam service added to my retirement, I have to pay back with interest the money I made during those 18 months. Why does the government hate me so much for going to Vietnam, that they would want all their money paid back with interest? A: For Federal Employees Retirement System employees, there are no exceptions to the…