By Reg Jones
September 18th, 2014 | Re-employment
Q. I retired from federal service in February 2010 under the FERS Special system and my MRA is Febuary 2016. I understand that if I work after February 2016, my FERS supplement will be means tested against how much I am making in salary. If I work after my MRA, making 150K for only two years and therefore lose my supplement during that time frame, would the supplement restart after I worked those two years, and would the supplement stay at the same amount as when I retired in February 2010? Read the rest of this entry »
July 25th, 2014 | Re-employment
Q. I am 52 with 17 years in the federal government (FERS). I am not eligible to retire yet and am not eligible for a discontinued service retirement. My agency field office is closing, and I have decided to decline their directed assignment outside of my state. I am eligible for severance pay due to the fact that it is not a reasonable job offer (it is outside of my commuting area, and I am not subject to a mobility agreement). I have submitted my information and found I am eligible to receive one year’s worth of severance payments. I know that if I receive severance payments but soon after get hired into another federal job, the severance payments will stop. Read the rest of this entry »
July 24th, 2014 | Re-employment
Q. I am a Dual Status Military Technician GS-12 and I will reach my Mandatory Removal Date in 2019 when I am 50 and not eligible for retirement yet. This will end my Federal employment as a military technician. What options are there for me to gain new employment in the federal system and what impact does my previous GS-12 grade have? Read the rest of this entry »
Q. I served 5 years, 8 months, in the military, then 30 years in the Post Office. I had roughly 6 months of sick leave to use, so 37 years total. Military time was repaid prior to VERA in June 2011. My Social Security statement is 38 credits as of 2012. My VERA incentive was calculated under Social Security. If I become employed before I’m 62, how will my annuity be affected and how much will my Social Security benefits be? Is there a calculator to determine this amount using specific amounts?
A. Because you’ll have fewer than 30 years of substantial earnings under Social Security, your Social Security benefit would be subject to the windfall elimination provision. The WEP would reduce – but not eliminate – that benefit. To learn more about the WEP and how it would affect you, go to http://www.ssa.gov/pubs/EN-05-10045.pdf.
Q. My wife worked for the federal government from 2011 to 2012 and resigned in August 2012 due to medical reasons. During that two years of service, $222.07 was deducted from her pay for “Retire, FERS” and there were matching funds of $3281.31, so the total is $3503.30 for the “Retire, FERS.” Can my wife request that money be refunded?
A. If she doesn’t plan to return to federal service, she would only be entitled to a refund of her own retirement contributions. Doing so would cancel her entitlement to any future retirement benefit. However, if she got a refund and later returned to federal service, she could redeposit that money, plus accrued interest, to get credit for that period of service.
Q. I retired as a FERS employee in 1999 with 26 years of service. I was 48 years old. I returned to work full time in the private sector February 2007. I was laid off 02/28/14 due to downsizing in the company.
Texas is the only state I have worked in. Am I eligible for Texas unemployment benefits? I am still able to work. Read the rest of this entry »
Q. If someone is reinstated into a federal position, is it the same step as well as grade that they were when they resigned? I have 15 years additional professional experience since I resigned from the federal government. When I resigned I was a GS-11, step 4. However my current salary with a defense contractor is in line with a GS-11 step 10 salary. If I am reinstated, am I entitled to be compensated as close to my current salary without exceeding it or at the step I was at when I resigned (GS 11 step 4). Read the rest of this entry »
Q. I have 31 years of federal service at age 50: 27 Civil Service and 4 military which I bought back. Do I wait to fill out my retirement paperwork near my minimum retirement age, or do I fill that out at the time I resign? I read that because I have five point preference that my reinstatement rights don’t have a three year time limit? If I resign and then apply for a federal job and get hired at age 55, work one year and then retire at my MRA of 56, would I be eligible for the Social Security Supplement? Can I leave my Thrift Savings Plan money where it is and not transfer it to an IRA? 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?
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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 69 years old and will be 70 in December of this year. I was rehired by the government in January 2013 after a 31 year break in service. I had almost 12 years of prior service and I withdrew my CSRS retirement fund when I left the government in 1981. I am now planning to retire at the end of March of 2016 when my High-3 will be reestablished at my current GS12-10 salary. Since I have over 30 (consecutive) years of substantial earnings under Social Security, will the windfall elimination provision come into play when I retire?
Also, I did not repay the amount I withdrew in 1981, and additionally, I am currently collecting my Social Security benefit and have been since 2010. How will these circumstances effect my CSRS retirement and/or Social Security benefit when I finally retire at the date I mentioned? 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 retired from the federal government in 2007, receive an annuity and would like to come back to work for the federal government as a rehire. Federal job applications have a section entitled “Who May Apply.” If the position advertises for “United States Citizens,” am I eligible to apply as an annuitant?
Read the rest of this entry »
Q. I’ve read where normally one’s salary is cut by the amount of annuity he or she is receiving, but what happens if the new salary is less than the existing annuity? Read the rest of this entry »
Q. I am eligible for a 30-year retirement in July at age 50. If I do not get another job, I am eligible for a special retirement supplement due to the mandatory early retirement that federal law officers must take.
If I don’t work for, say, six months and then get a job in the private sector and work two years, or if I get a job immediately upon retirement and only work a couple of years, will I still be eligible for the supplement after leaving the private sector?
February 21st, 2014 | Benefits Creditable service: CSRS Creditable service: FERS CSRS annuity computation EMPLOYMENT FERS annuity computation High-3 Military service deposits PAY Re-employment RETIREMENT SOCIAL SECURITY taxes Windfall elimination provision
Q. 1. How are the days of active-duty service calculated?
2. Is that a one-to-one credit added to years of service?
3. Can you buy it back after you retire and adjust the annuity accordingly?
4. Can you buy back portions of it?
5. Can you pay in installments?
6. What percentage of military pay per year would you get in retirement? For CSRS, it is roughly 2 percent based on high-3; would it be calculated on actual salary back then or adjusted for inflation?
7. Any chance for a retroactive payment once established?
8. Will I lose any benefits if I do this?
9. Can I do this if I was not in the military long enough to earn a pension?
10. How does Social Security fit into this picture?
11. Can I get all three (FERS/CSRS, Social Security, military/Defense Department) separately? What is the penalty for collecting multiple pensions if done separately?
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 am 61 years old and have been retired from the fire service. I have, according to Social Security, 39 units which were not earned at fire service. If correct, I need one unit to earn Social Security at age 62, and I need this unit also to be eligible for Medicare at age 65? Is there any other way to get this one quarter other than going to get a job for three months?
Q. I worked under CSRS from 1963 to 1984 and withdrew my contributions when I left. I returned to a term position in 2002 and was informed that I couldn’t elect CSRS, so I selected a FERS pension. I am 72 and still employed. When I retire, I will receive an actuarially reduced CSRS pension. Does the reduction computation continue each year into retirement? What is the reason (law or regulation) that this reduction is itself not reduced or eliminated if I retire at a more advanced age (and will receive the pension for fewer years)?
Q. My wife left her government job a number of years ago and withdrew the money from her FERS account. She re-entered government service a few years ago. She then requested the redeposit amount required to bring her FERS account whole again. To make her FERS redeposit payment, she took a withdrawal from her IRA.
We received a 1099-R from her IRA firm showing the withdrawal and we will need to report on our taxes as income. Since the money went back into FERS, can I deduct that amount as if it were being rolled over into an IRA?