Q. If a federal employee takes a buyout, but then wants to return to federal service, is he eligible for reinstatement rights, or does he have to compete as though he did not have prior federal service?
Browsing: repayment
Q. I took the Voluntary Early Retirement Authority on July 31. I am receiving the special retirement supplement. I have since applied for Social Security disability. If I am approved for SSDI, will I lose the supplement even though I did not file for Postal Service disability? And will I have to pay back the supplement for the months I receive back pay from Social Security? And will I need to notify the Office of Personnel Management that I am receiving Social Security disability?
Q. If you take an early-out with an incentive and, in turn, put in for a medical retirement and it’s approved, would you have to pay back the incentive? A. No.
Q. I may be offered an early-out in May. I have been working for the Army Corps of Engineers for the past 34 years. I’m a CSRS employee. If I take the buyout and have a chance to go work for FEMA or the U.S. Forest Service fighting fires out west this summer, can I do this without paying back the bonus? A. According to the Office of Personnel management, “An employee who receives a [Voluntary Separation Incentive Pay] and later accepts employment for compensation with the Government of the United States within five years of the date of the…
Q. I am about to retire as a heavy equipment operator for the Department of Public Works. I have been offered a job as a property book manager with a contractor. Will I have to repay their Voluntary Separation Incentive Pay? A. According to the Office of Personnel Management, “An employee who receives a VSIP and later accepts employment for compensation with the Government of the United States within 5 years of the date of the separation on which the VSIP is based, including work under a personal services contract or other direct contract, must repay the entire amount of…
Q. I worked for the federal government for over 28 years. I retired last year under Voluntary Separation Incentive Pay provisions June 30, 2012. I am considering re-employing/reinstating. Am I eligible to return to work on July 1, one year after retiring? Can I repay the VSIP in cash or in payments? I read once that you can make payments for up to 36 months upon re-employment but am not sure whether this is correct. I understand the VSIP must be paid back before I return to work. Upon re-employing with the government, will I be able to contribute to…
Q. I withdrew $4,000 after leaving federal service. I returned and plan on retiring after 30 years of service. I intend to pay back the withdrawal. Can I repay after I retire to regain the years I lost when I withdraw? Or do I have to repay while I’m still employed in federal service? A. You have to complete the redeposit, plus accrued interest, while you are employed by the federal government.
Q. I have 22 years of federal service: 10½ years in the Air Force and 11½ in the Defense Department, leaving as a GM-14 in 1990. I was under CSRS and took the small lump sum when I left. Can I repay into the system and qualify for an annuity? I am 62½ years old. A. No, you can’t. You would only be able to redeposit that money, plus interest, if you were a current employee of the federal government.
Q. I plan to retire Nov. 2, 2013. I will be 66 years old, with 37 years of service. I am CSRS Offset for 30 of those years. I withdrew approximately $9,000 in 1982 (CSRS earnings) and will not be repaying it. (It’s now about $55,000 with a penalty of about $300 per month.) I know my retirement will be “offset” by about $800 in Social Security. My Social Security is estimated to be about $1,460 before the offset. Will I be able to collect the Social Security difference of approximately $600, or is my CSRS offset all that I’ll…
Q. I have to buy back four years, which will give me 30 years with the Defense Department. It will cost me $8,000. I owe about $1,500. The rest is interest. I never knew about this until I started retirement plans. If I had, I would have started a repayment plan. Can you explained why the why there is so much interest and is there way it can be reduced? I have been waiting now for eight months for the Office of Personnel Management to make its final calculations so I can begin to pay. Is there anything I can…