Q: I understand that a military deposit has an effect on a person’s service computation date, Thrift Savings Plan funds and leave issues, but does it have any bearing on a new hire’s employment status? To clarify, will it change a person from “career conditional” to “career” if they have more than three years of military service? A: Making a deposit for active-duty service in the armed forces has no effect on a new hire’s employment status. As a rule, he must complete a probationary period and have three years of substantially continuous service to receive a career appointment.
Browsing: TSP
Q: I voluntarily retired after 37 1/2 years with the Internal Revenue Service on Jan. 3, 2007, under the Civil Service Retirement System. From July 2007 to Dec. 6, 2009, I served as a contractor to the Health and Human Services Department. I was then hired as a full-time employee. Human resources made a mistake and did not offset my annuity until March 2010. As a result, this left me with only $38 in net pay and a debt of $15K because my salary was not offset. HHS wants me to continue to provide my services so they offered to…
Q. I am a FERS employee, age 51 with 12 years civilian service. I have never been in the military. I currently receive from PERS my late husband’s nontaxable disability retirement. When I do retire, will this affect my FERS and/or Social Security? Does this count against me? Can I have PERS, FERS, Social Security and TSP annuity in retirement? A. I can tell you that you will be entitled to the FERS annuity you earned, any Social Security benefit based on your own record, and your TSP account, without any modification. What I don’t know is if any of…
Q. I have five years. If I get another job, can I dump my sick leave in the TSP? I don’t want to lose all my hours, that’s not fair to me and the many people who do their work and not call in sick. A. No, you can’t. Sick leave has no cash value.
Q. I retired as a FERS annuitant on Feb. 1, 2006 at age 62 plus a couple of weeks. If I am rehired please help with these questions. Will my current FERS gross annuity before taxes be deducted from the new gross salary before taxes? If I have the maximum for retirement, including the over-50 extra amount, deducted and invested in the Thrift Savings Plan, am I matched by the federal government and vested from day one for as long as I decide to work? I left my TSP with the federal government and I have not taking anything from…
Q: I am a federal employee covered under the Federal Employees Retirement System, and at age 49 will have just over 30 years of service with my military time that I bought back. Can I retire without penalty by postponing or deferring my annuity until my minimum retirement age of 56 years and 2 months, and reapply for the Federal Employees Health Benefits plan for my spouse, and draw on my Thrift Savings Plan, as well? Do I defer my annuity or postpone my annuity under this scenario? What is the better of the two options, or should I not…