By Reg Jones
July 9th, 2012 | Uncategorized
Q. I am a 48-year-old 1811 with 22 years of service as a special agent. Do I have any retirement options other than serving another two years with the FBI or in another agency as an 1811? If in the next year, I obtain a non-1811 or non-law-enforcement Senior Executive Service position with another agency, how will that affect my retirement?
A. Since you have at least 20 years of covered service, you could take any other job and be able to retire when you reach your minimum retirement age, which would be 56. Those 20 years would be calculated using the enhanced formula and the rest using the standard formula. Alternatively, you could continue to work in a covered position and retire at age 50.
June 29th, 2010 | Uncategorized
Q: I am currently in a law enforcement position, as a Federal Employees Retirement System employee, and I am covered under the special group of employees Firefighters, Law Enforcement Officers, and Air Traffic Controllers retirement. I am considering, after 10 years of service, a lateral transfer to a GS-13 position, with the Defense Department (non-law enforcement) with more potential for promotion and a significant decrease on my commute. Since I paid an increase of .5 percent to FERS for 10-plus years, why doesn’t the 1.7 percent transfer in government to government services?
A: Under the law, only those special category employees who have completed 20 years of covered service are entitled to have their annuities computed using the more generous formula. The standard formula is used to compute the annuities of anyone who has fewer than 20 years of covered service.