Q & A
At age 65, I sign up for Medicare Part A because it is free and I keep my Federal Employees Health Benefits but decline Medicare Part B. Does that mean my FEHB will pay out benefits as usual as if employed, or will FEHB pay benefits as if I had Medicare Part B? If so, that means I will be paying premiums on FEHB, which provides less coverage than when I was younger and working and not eligible for Medicare.
Answer: Your FEHB plan will be paying benefits as if you had elected to be covered by Medicare Part B. You need to check with your plan to see how that coverage would be modified. Source: Reg Jones, FederalTimes.com – December…
I am a former CSRS employee with 15½ years of service. I left the service in 1993. I need to apply for deferred retirement. Is there any benefit in waiting? I am applying for a federal position that does not close for several months and am wondering what happens once I start collecting my deferred retirement? Should I wait to apply for my deferred retirement? What happens if I take a federal job in a year? I also took a refund of part of my CSRS deductions in 1983 (money was from 1977 to 1983) when I moved to another state. Shortly after I moved, I got a new CSRS position and worked for 10 more years until 1993 and did not take a refund when I left at that time. How does that affect my retirement?
Answer: When you apply for that deferred retirement, your annuity will be paid retroactive to the date you first became eligible for it. Although you took a refund of your retirement contributions for one period of service, you’ll still get credit…
I always thought retiring Jan. 3 was a good idea, but let’s assume I plan to retire in 2014. If there is a retiree cost-of-living adjustment in 2015, and I retire Dec. 3, 2014, will my annuity increase in January by the 2015 COLA percentage? (If not, how far back into 2014 would I need to retire to get the next COLA?) Is it 1/12 of COLA per month prior to the January increase?
Answer: To receive the full January 2015 COLA, you’d have to retire no later than Dec. 3, 2013 (that’s today). If you retired Jan. 3, 2014, you’d receive 11/12th of that 2015 COLA. Source: Reg Jones, FederalTimes.com – December 3, 2013
I was born in 1958 and would like to retire from the federal government with 10 years of service at age 57. Would I be eligible for the special retirement supplement?
Answer: No. Because you’d be retiring under the MRA+10 provision, you wouldn’t be entitled to the special retirement supplement. Source: Reg Jones, FederalTimes.com – December 4, 2013
I have been told by the Office of Personnel Management that if I postpone my retirement until age 60, I would be penalized for every year I am under 62 and will not be eligible for the special retirement supplement. I am 59½ with more than 28 years in the Postal Service. Our facility is consolidating, and our jobs are at stake. I am a clerk and do not want a carrier position because of my health. I plan on retiring in February to reach my 60th birthday. If I don’t accept a carrier position, can I: 1. Take an involuntary discontinued retirement; or 2. Retire and postpone my annuity until 60 I want to receive the special retirement supplement and no penalty on annuity.
Answer: If you waited to retire until you reached age 60, you’d receive an unreduced annuity and the special retirement supplement. If you retired before age 60, you’d be retiring under the MRA+10 provision. As a result, your annuity would be…
I am a CSRS Offset retiree. I attended more than one pre-retirement seminar and was given examples of my retirement situation, along with reassurances that my retirement would closely follow the examples and that I was very fortunate to be CSRS Offset, and would be very happy.
Continuation of question: I was told to check with Social Security to find out about my offset. Neither the Office of Personnel Management nor Social Security could know the exact amounts until I retired. Following my retirement, everything, except Social…
I retired a few years ago with a pension and with Federal Employees Health Benefits coverage. Turned 65 a year ago. Have not applied for Social Security, as the benefit will be less than $200 per month. All sources tell me that when I apply for Social Security, Medicare Part A will be mandatory, even though all our working careers, they said we can just have FEHB for retirement. I do not want Part A and wish to remain with FEHB only. Also with all of the mixups, I am sure they will put me into Part B, as well (even though I do not want or need).
Answer: I can think of no reason for failing to apply for your Social Security benefit or accepting coverage under Medicare Part A, for which you’ve already paid through payroll deductions. If you don’t want to be covered by Medicare Part…
I changed my name when I got married last year. Do I need to report it to Social Security?
Answer: Yes. If you’ve legally changed your name due to marriage, divorce, court order or for any other reason, make sure you change your name with Social Security, as well as with your employer. If you change with one source but…
I am a federal employee (under FERS) and Naval Reserve retiree (20 years of service). I will receive Navy Reserve retirement pay at age 60 (in 19 years). I am considering buying back four years of active-duty Navy service. Before doing so, I’d like to ensure that this does not forfeit or waive my Reserve retirement. Can you share the reference that states that a retiree can receive both a Navy Reserve retirement and federal (FERS) retirement after completing military buyback of the active-duty portion of a Navy Reserve career?
Answer: If you make a deposit for your active-duty service, it will have no effect on your entitlement to have that service used in determining your length of service and in the computation of your reserve retired pay. Since this is a…
WHAT IS THE DIFFERENCE BETWEEN SOCIAL SECURITY DISABILITY AND WORKERS’ COMPENSATION?
Answer: There are two different types of lifelong compensation if your injury is bad enough that you will never be able to return to work. These types of compensation are called “Social Security Disability” and “Permanent Total Disability” in Colorado Workers’…