By Reg Jones
August 14th, 2014 | VERA
Q. In an article entitled “Calculating CSRS, FERS annuities,” you indicated “that you could also retire early at age 50 with 20 years of service, or, if you have 25 years of service, at any age. I have 27 years and four months of service and I am 50 years old. Am I correct to understand that if I retire now, there would be no age penalty? Read the rest of this entry »
Q. My agency sent out applications to apply for VERA/VSIP. I am 57 years old (MRA is 56). I have a almost 34 years creditable service. With my sick leave it will be almost 35 years. Will I be VERA or VSIP? Is one better than the other, or do I even have a choice? Read the rest of this entry »
Q. I received $19,100.00 severance pay in a RIF in 1996. In 2000 I was re-employed by the Federal Government. I am now considering a VSIP. What amount can I expect? I am 72 years old with 20 years of service. Read the rest of this entry »
Q. When I ETS from the Army, I was allowed 30 days of terminal leave with the remainder of unused annual leave a forced buyout. I had been unable to take leave due to the needs of the Army.
Because of that I lost almost a month of BAH, specialty pay, etc.
I was told at that time the federal government cannot force more than one buyout of unused annual leave during your federal career.
I am resigning from civilian federal service with a deferred retirement. Can they once again force a buyout of unused annual leave? Can they not allow me to take terminal leave?
A. No, they can’t. The comptroller general of the United States has ruled that federal civilian employees may not take terminal leave.
Q. I have 14 years and 8 months of active Army service. In 1993, when Regan was initiating draw down of troops and instituted SSB (Service Separation Bonus),
I received a Service Separation Bonus in 1993′s drawdown of $40,000 before taxes and separated from the Army in Sept. 1993. In June 1995, I entered the federal service as a full time Civilian Government Employee working for the Army Material Command where I work today. At the end of this month, I will have 18 years and 9 months as a federal government worker. I am currently 56 years old.
Would it be more beneficial to add my active military service time to my federal government service time in order to receive a higher pension upon retirement? And if so, will I have to “pay back” the SSB I received in 1993? In general, my annuity would be based on the following formula: .01 x (your high-3) x (your years and full months of service). If I use this formula, then I would require a deposit, correct? Read the rest of this entry »
Q. I am 52 with 31 years of FERS service. If I retire now, would I still get the special retirement supplement when I turn 56? Or is that only if I were offered a voluntary retirement? Can I get my retirement now? What is the penalty given my age and years of service? Read the rest of this entry »
Q. I received an “early-out/buyout” in 2005 with 24 years (FERS) of service prior to my minimum retirement age. I was age 46 at the time. I am currently receiving social security disability income. Will I be eligible to receive a FERS annuity once I reach my minimum retirement age (MRA)? Will I still be able to collect social security disability income? Or if when I reach my MRA, can I collect the FERS Special Supplement and the social security disability income?
Q. Is a VERA/VISP going to be offered in 2014?
Read the rest of this entry »
Q. I was a federal temporary worker for GSA from 1985 to 1994. Our agency is now shutting down on Sept. 30 and I bought back my temp time until 1988. From then on, I cannot buy my time back. Since we are closing, is it possible to buy back my other years? This is through no fault of my own and five more years would surely help as I didn’t pay into the Thrift Savings Plan in my temp time. Read the rest of this entry »
Q. Due to BRAC, I am now a full time rehired annuitant. What is the “special retirement supplement” received after 30 years? In December 2014, I’ll have 30 years federal service, Army DOD. I’ll be 62 in February 2015. Will there be changes in the annuity due to coming of age to accept or reject low social security. Could you clarify?
Read the rest of this entry »
Q. I worked from 4/1987 through 8/1998 as an Architect/Engineer SR with the USPS. I resigned with a good record. I have a form 50 that states my service which I submitted when I applied. I recently was hired to a new position.
I cannot get a clear understanding about my retirement, my vesting and if I have a probationary period and how long it is. I was not reinstated. I was FERS, and I never took my basic .8 contribution out. I did transfer my Thrift Savings Plan to a private brokerage account. They used the .8 to continue my FERS plus gave me the service time as far as leave goes (six hours/pay period).
1. How is my retirement calculated? What age can I retire? I am 57 now.
2. How long before I can be considered a vested federal employee with competitive rights to apply for another position?
3. How much service time do I have according to the VA? My personnel record has it like I am starting over.
4. Do I have a probationary period, and how long is it? Read the rest of this entry »
Q. I am a discontinued service rehired annuitant. I worked at a U.S. Army post and was phased out during a base closure and realignment in 2011. I received priority placement in 2012 at a nearby Army post and was rehired. I’ve been here almost two years. VERA/VSIP is now being offered with a $25,000 buyout. I have the age and years in. I’m not interested in leaving yet; but as a FERS rehired annuitant, would I be eligible for the VERA/VSIP $25,000 buyout presently being offered? Read the rest of this entry »
Q. I work at an airport as an air traffic controller for the FAA. The airport is not very busy with commercial traffic, and I am curious what the FAA would do with me if they shut down the air traffic control tower where I work at because of inactivity. If there were a reduction in force for air traffic controllers in the FAA, would they base it on our service computation date? Read the rest of this entry »
Q. I am a CSRS employee, 55 years old with 31 years of service. If I receive a voluntary separation incentive payment, is it reduced by six weeks of severance pay I received in 1997? Would my spouse be able to keep FEHB family plan if I die? When I use the advanced retirement calculator it shows 75 percent reduction for basic insurance. Is that automatic? And does FEGLI pay out the same death benefit as currently indicated in my Employee Benefit Information System? Read the rest of this entry »
Q. I retired 20 months ago and received a voluntary separation incentive payment. I can get a non-career part-time job with the U.S. Post Office that has no benefits with it. I retired from an army base public works which is DOD. Will this job effect my VSIP and retirement? Read the rest of this entry »
February 21st, 2014 | Benefits Creditable service: FERS DOWNSIZING Earnings test FERS annuity computation High-3 PAY RETIREMENT service computation date SOCIAL SECURITY Special retirement supplement VERA
Q. I am a FERS employee working for the Department of Agriculture. I have been offered a job outside of the government and am trying to see the pros and cons of leaving. I am a FERS employee with a service computation date of Aug. 17, 1986, and am 46 years old. If I apply for Voluntary Early Retirement Authority, what would the disadvantages or advantages be?
Q. Would I be eligible for a Voluntary Separation Incentive Pay if offered? I am 57 and will have 33 years of service under CSRS in June. I took an NTE position in 2009 that ended in Sept 2011 and was unemployed from Sept. 30, 2011, to June 2012, when I was reinstated. Because I had the break in service — and since that break have been working less than three years continuously, would that make me ineligible for a buyout?
Also, is there a limit on how many times you can be turned down for a VSIP or any recourse after multiple times while others get approved for it?
Q. I noticed you can retire during a reduction in force at below the minimum retirement age with 25 years of service. However, I’ve also read that those people are not entitled to the special retirement supplement since they are below MRA. Can they be paid the supplement once they reach MRA, even though previously retired?
Q. I retired on a Voluntary Early Retirement Authority in January 2013. I turned 56 on Feb. 6. I understand I am eligible for the special retirement supplement. Do I need to notify/contact someone to get this processed? How long before I start receiving this benefit?
Q. My agency is offering Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. I have been approved for both. However, I have become disabled (chemo damaged my nerves, resulting in severe peripheral neuropathy). I thought I could leave via the early-out option for much needed relief and rest, then file for my federal disability.
My human resources department advised that, per the Office of Personnel Management, if I take the VERA, I cannot file for disability later, e.g. within one year.
I consulted with a lawyer, who specializes in federal disability retirement, and he advised that he has many clients who took the VERA option and later filed for disability within the one year.