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• 34011
  

  Question about early retirement. In FERS, I have 17 years in and am considering early retirement at 56 1/2. I know I will lose 5% per year under 62 (of my 1% per year x high three). But:

  1) will I recieve cost of living increases or does that benefit not begin until 62?

  2) does the government continue to pay part of my health benefit premium, or am i responsible for it all?

  Thank you very much.

  K blakney Posted September 28, 2007 10:41 AM
• 33861
  

  I have 36 years service with the agency. I purchased my 21 months military time. I do not have enought credits to qualify for social security when I retire but hope to work where I am able to qualify. I will be 61 in December. If I am able to obtain enough credits to qualify for social security, will it affect my CSRS retirement? Will it affect my survivor's annuity? Thanks for your help.

  John D. McKinny Posted September 26, 2007 12:46 PM
• 32441
  

  To Robert:

  Check carefully. You should find that the Government Pension Offset does not apply to FERS emplyees who have 5 years of service. I'm still not clear if that is 5 years of FERS service or 5 years of Civilian Service- but in your case it doesn't matter.

  And to Tammy, if you leave federal service on your 70 1/2 birthdate, does that year become your "first distribution calander year"? I presume that also hold true if you leave on your 72 birthday? And if you were to ask, it is not by chioce but there are a number of us who are are in the "Work To You Drop" retirement plan, the primary cause being that we have "obligations".

  henry erbes Posted September 7, 2007 10:39 AM
• 32439
  

  At a recent pre-retirement seminar for Immigration and Customs Enforcement employees, the speaker claimed that only one (1) percent of TSP participants put their funds into one of the TSP annuity programs upon retirement. Is this true?

  Larry Hubert Posted September 7, 2007 10:27 AM
• 32427
  

  Another new number coming in October! Given that I already have 37 new numbers and passwords and a decreasing number of memory brain-cells, I'll just write it down...which, of course, defeats the improved security intent. Just more torture from the IT crowd. Thanks, TSP.

  don green Posted September 7, 2007 9:13 AM
• 32426
  

  I am an employee that converted to FERS in 1/88. Therefore, I have a combined CSRS and FERS retirement benefit. Recently I read something on the SSA website that appeared to squeeze me when qualifying for Social Security benefits. It appears that there would be a Government pension offset to my social security benefits working under FERS for a period of less than 20 years due to my CSRS connection (which probably will not contribute much to my overall pension based on my earnings druing that time). This offset would only diminish over time if I continued to work and pay Social Security benefits for an additional, if I remember correctly, 10 years. This appears to be an unexpected disadvantage to the retiree in my age category, which is 55, who, in retrospect, made the wrong decision in 1987 by making that switch. I may end of working for an additional 10 years anyway, but it appears that in order to remove that penalty from my benefits, I will have to.

  Robert Degnan Posted September 7, 2007 8:52 AM
• 32416
  

  The TSP needs to make a slight increase in their staffing for withdrawal processing. I have been trying to make a withdrawal but I made a couple of mistakes in filling out the paperwork. My fault; I didn't understand the instructions. They supposedly send a letter in such cases (I never got one). When I asked why they don't call, even though they have my phone number, I was told that they lack sufficient resources to make telephone calls. So, when the money didn't show up after several weeks, I had to call them. The help line people are very helpful though.

  Richard Emmert Posted September 7, 2007 7:44 AM