By Reg Jones
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 »
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. If a person qualifies for a buyout, does the position have to qualify for it?
Q. Would I be penalized if I am a FERS employee, 49 years old with 26 years of government service. I just got a GS-11 job, so I do not have a high-3 at that level. My high-3 is at the GS-7. My job is offering the Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. Can I go out with no penalties?
Q. Is there always a reduction in force after a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay?
Q. I began working for the Defense Department in 1981. In 1993, I took a Voluntary Separation Incentive Pay. I received severance pay at that time. I came back to work in 1998. My adjusted service computation date is 1987. I have 26 years with DoD, and I am 52. If a Voluntary Early Retirement Authority is offered and I apply, provided I am approved, would I receive severance pay minus the amount I received in 1993 or none at all?
Q. I have been approved for a Voluntary Separation Incentive Pay and, on the letter, it asked me if I ever received severance pay. I did when my Defense Department position at the base I worked closed in 1996. I received eight weeks of severance pay. I was put on priority placement and accepted a position in DoD in August 1997. I have worked the same position since. What, if anything, does my severance pay have to do with the VSIP payout. Does the amount get reduced by the severance pay I received at the other DoD position?
Q. I retired in March 2012. I got a Voluntary Separation Incentive Payment paid to me after I retired. I started my Social Security at that time. I have recently gotten several confusing letters from the Social Security Administration saying I owe them different sums of money for overpayment due to having too much income. They are including my buyout gross payment as regular income.
Is there some official source you can give me to pass onto them that my $25,000 should not be considered in my earnings putting me over the limit for receiving benefits following my retirement. I am submitting a Form 131, but it just refers to severance, and I can’t find an absolute statement that says VSIP payments fall in that category. I have heard it informally as severance due to retirement, but I would like something official.
Q. If I take an early-out at age 55 with no penalty plus $25,000 incentive bonus, is there any penalty if I accept a SETA or CSS contract position with the same agency?
Q. I am 52 years old, 25 years in FERS, potentially being offered a Voluntary Separation Incentive Pay. If I do the VSIP, I will be employable at my current salary outside the government.
If I take the VSIP, can I carry my Federal Employees Health Benefits into retirement if I pay for it?
Can I delay collecting my retirement until age 62 and carry my FEHB through to retirement?
Q. I have eight years and six months working for the federal government, but I am 64 years old. No CSRS time, only FERS. Am I eligible to participate in the Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay, if one is offered and would I be able to carry over my health care benefits?
Q. I have 25 years of Defense Department service and am 62 years old. I have FERS retirement. In 1996, the government facility that I was employed by closed and I was given eight weeks of severance pay. If I accept a Voluntary Separation Incentive Pay offer of $25,000, will I have to pay back my severance pay?
Q. If I have repaid my military service deposit but then resign from federal service, can I request a refund of the military service deposit? Also, if my agency is offering Voluntary Separation Incentive Pay, does the military service deposit count toward the VSIP buyout?
Q. Due to reaching my mandatory removal date while on an Active Guard Reserve tour, I did not have the necessary active-duty time of 20 years to earn a full Army retirement. I was eligible for Army Separation Pay, which I received in 1998. Upon reaching age 60 in 2008, I began to pay back the separation pay so that I would be eligible for Army retirement pay. I have been an Army Civil Service employee since March 2004 and my organization has offered a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. Am I eligible for it?
Q. I would like to know if the prohibition from working for a personnel services contract also applies to all other type of contracts (nonpersonnel services contract) after receiving a Voluntary Separation Incentive Pay?
Q. I am a Defense Department FERS civilian. There’s a chance that where I am may offer a voluntary early retirement with an incentive of up to $25,000. If I decide to do an early retirement and receive up to $25,000, can I add that money onto my annuity?
Q. I am a retired civil servant with Defense Department. I served for more than 28 years. I retired in June 2012 under FERS with a Voluntary Separation Incentive Pay. I am considering re-employment with DoD.
1. Will I be given credit for my 28 years of service?
2. Will I be able to contribute to FERS and the Thrift Savings Plan again?
3. Will I receive eight hours of annual leave again?
4. Will I be protected from a reduction in force because I am receiving an annuity?
5. Is it best to cancel my annuity if I return to work?
6. Will my pay be based on my last pay amount (GS-13/3), or will I start over at a Step 1?
7. I will repay my VSIP, but will I need to repay any of my annual leave?
Q. What is the difference between retiring by resigning, optional or early? Particularly, the number of years associated with each?
December 11th, 2013 | annuity reduction Benefits Creditable service: CSRS Creditable service: FERS CSRS annuity computation DOWNSIZING FERS annuity computation PAY RETIREMENT Retirement date service computation date SOCIAL SECURITY Special retirement supplement spouse benefits SURVIVOR BENEFITS VERA VSIP Windfall elimination provision
Q. I am considering requesting a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay and being off the rolls by March 31. My service computation date is Feb. 28, 1982 (CSRS and FERS). On Feb. 28, 2014, I will have 32 years of combined service (CSRS and FERS). On April 11, 2014, I will be 58 years old.
I transferred to FERS on March 30, 1994. Therefore, I will have 20 years under FERS on March 30, 2014.
I previously withdrew all of my retirement funds from CSRS, and never paid them back. I understand that although I did not repay my refund, the period of service will count toward length of service, but no annuity. Is this correct?
I had received a FERS benefit report that reflects CSRS service credit as 11 years, seven months and six days, but because some of that time was nonpaid deposit or redeposit, I will only receive eight years, 11 months and 27 days of CSRS service credit. My unpaid CSRS deposit is $627, and my CSRS redeposit is $30,607. Therefore, I am unable to pay all of this back prior to my retirement — and will have to pay a penalty, I am sure.
Since all of my annuity will be coming from FERS, will I be affected by the windfall elimination provision?
I have no survivor benefit, spouse deceased, which should make me eligible for Social Security widow’s benefit at age 60. How will this affect my special retirement supplement? Will I have to contact the Office of Personnel Management and report this change, or will they be notified by Social Security that I have filed?
Is the special retirement supplement equal to the Social Security benefits I will draw at age 62, or is it less?
Q. I am a Defense Department FERS civilian with 22 years of government service, age 58. My organization is offering a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay.
1. Will I be eligible for the special retirement supplement until age 62?
2. Will my retirement pay be reduced for every year under the age of 62?