By Reg Jones
Q. I am considering retirement soon but would like to know if paying back my military time is a wise decision. I am 60 years old and will have 35 years civil service time. I do not have enough quarters to draw Social Security and never plan to. Will my annuity be based just on those 35 years, or will it be based on my actual service computation date, which would add four years?
Q. I am 61 and will be 62 in September. I would like to retire at age 62. I have eight years of federal civilian service and bought back three years and eight months of military service. I know I cannot retire until I am 62. Due to a current civil legal action that I have, I would like to resign my position within the next 30 to 60 days. This would mean a deferred annuity with a retirement date of Sept. 30. My boss is looking to suspend me from duty without pay due to this situation pending the final results of my civil action. What will I be losing by resigning and not waiting until my retirement date, even if I am suspended from duty without pay? Should I just stay on suspension and submit for retirement for the end of September?
Q. I turned 55 in April and have more than 33 years in CSRS. I have 3,069 hours of accumulated sick leave, and 304 hours of annual leave in my current year balance, 164 restored annual leave with a term date of January 2014, and 444 hours of restored annual leave with a term date of January 2015. To get credit for my sick leave, I need to retire with total service and sick leave equaling a multiple of 174 hours? And, I’ll get a lump-sum payout from my annual leave of 912 hours at my current hourly rate?
Q. I am 57, have worked for the Postal Service for 26 years, qualified for minimum retirement age last July. What circumstances for retirement would entitle me to the special retirement supplement to be paid until I am age 62? In September 2014, my office hours will be reduced to six per day and my wages will be cut. Will I be offered a reduction in force so I can retire with a supplement at that time? Or will I just have to take a cut in pay and a cut in hours and not be considered a postmaster anymore?
Q. I retired on Oct. 1, 2012; a special incentive was offered the same day. The Office of Personnel Management said I would be eligible to take the incentive. I received a letter from HRSSC in November 2012 saying I was approved for incentive. How do I find out if I get a check this month?
Q. I want to retire in September and have restored annual leave which must be used before January 2014. Will I be paid for restored leave if I have not used it by my retirement date in September?
Q. I am a federal technician in the Air National Guard. I am in my last year of work as a GS-12, step 10. This will be my highest paid full year when it is complete. If I go on three months of orders and take a military furlough, will this still be counted as my highest tenured year according to the pay chart? Or is it actually on monies earned that counts toward my high-3?
Q. I am in CSRS. I want to retire Jan. 11, 2014, as I will be on a mission trip out of the country from Christmas until Jan. 9, 2014, and I would like to get paid for my unused annual leave for 2012. I understand that I will not receive a retirement check for that month since it is past the third day of the month. I have had Federal Employees Health Benefits coverage since Jan. 12, 2009. Does that qualify as five years of health coverage? What will happen to my health coverage for the rest of January as I won’t receive a check for that month?
Q. I’ve been retired from for a year and soon will be 65. I have to keep medical for my wife, so if I keep a family plan under Federal Employees Health Benefits, do I need to pay for Medicare Part B? If not, can I apply for it in the future without a penalty after my wife turns 65?
May 17th, 2013 | RETIREMENT
Q. I am in CSRS. I plan to retire this summer with more than 37 years of service. I have heard conflicting comments about the correct time frame to submit retirement application. My HR expert said “the Office of Personnel Management will not accept paperwork prior to 30 days before retirement.” Is this true?
Q. I work as a staff physician for the Veterans Affairs Department. I previously completed my four-year residency at a university that required extensive time working at the local Veterans Affairs Medical Center. Do those four years count as government service toward my retirement?
Q. I would like to know if “donated leave” to a co-worker under the donated leave program will be added back to my time in service to calculate my retirement benefit under FERS. I was told that it would, but I have done exhaustive searches and can’t find it.
Q. I was just notified that my commander would like to meet to offer me early retirement. I am 51 years old but only have 12 years civil service. I retired from active duty with 20 years before that and am collecting my retirement. My position was eliminated over a year ago and I am thinking this is why it’s being offered. Any advice?
Q. How much notice do I have to give Social Security before I apply? I will be 62 in June. Do I have to give them 90 days’ notice? I plan on retiring in October.
Q. I am nearly 48 with 23 years of service. If I were to accept a Voluntary Early Retirement Authority, if one were offered when I turned 50, other than not receiving the special retirement supplement until I reach my minimum retirement age, what benefit is there if I wait until I am 56 with 30 years of service as opposed to 50 and 25?
Q. I will have 25 years of federal service at 66 years of age on Jan. 19, 2014. Would it be better to retire on Jan. 31, 2014, if the sole consideration is reducing the wait for being entered on the annuity roll? My understanding that I would be placed on the roll on Feb. 1, 2014. Is this correct?
Q. I am a CSRS employee who entered Veterans Affairs Department service Dec. 18, 1981, and have been employed there continuously. When am I eligible to retire? I will be 55 in January 2014.
Q. From what I understand, the special retirement supplement is calculated as your Social Security estimated payment at age 62 divided by 40 times your number of years of service. Do you receive the full amount of Social Security when you reach age 62?
Q. I have been receiving disability under FERS (as well as Social Security) for 17 years. I am 61. I understand that, at age 62, my FERS disability benefits will be converted to a retirement annuity as though I had been working the entire time. I have never been married, but I intend to get married in the near future. Will I be able to elect survivor benefits for my spouse? What about coverage under my health insurance (Blue Cross/Blue Shield)? Does it matter whether I get married before my 62nd birthday or not?
Q. I am 47 years old with 25 years and one month of service under FERS. If I accept Voluntary Early Retirement Authority, my understanding is that my monthly annuity will not be eligible for cost-of-living adjustments. Is that correct?
Also, once I reach 56 years and four months of age, the special retirement supplement would then be added until I’m age 62. Is that correct?
After age 56 years and four months, would COLAs then be applied to the annuity?
Finally, if I’m working in the private sector earning a salary above the current $14,000 Social Security limit for earnings, would the supplement be reduced $1 for every $2 I earn over the limit?