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Return to Article: Mail Call, Part Two

• 54802
  

  Tammy - I am an NSPS employee, considering retiring on 1 May 2009 at age 55 with 31 years of service. Last year, my pay pool share distribution consisted of a base salary increase of $1800 and a bonus of $1200. Based on just 4 remaining months of service in 2009, and assuming a similar share in the pay pool, will it be more advantageous to request a 100% base salary increase, a 100% bonus, or approximately the same split? Thanks for your help.

  MS Posted July 23, 2008 10:38 AM
• 54790
  

  I am planning on retiring 1/2/09 with 35 years of service and over a year of sick leave. Please explain the COLA increase. Will I receive the retiree cola (11/12's) that is given in December of each year, or will I receive the COLA that employees receive on January 1 of each year which is effective the first pay period of the year. I'm confused.

  rita montoya Posted July 23, 2008 8:25 AM
• 54547
  

  I am considering retiring from federal service at the end of Feb.2009 with 46 years and 5-6 months of full-time federal employment. I know that regardless of the number of years of federal employment beyond 41 years and 11 months, my annuity is maxed at 80% of my "high three average salary"+ % determined from the total hours of my unused sick leave. The confusion for me lies in which three years are used as the basis for determining the "high-three average salary". I have been told at two NITP retirement seminars that the employee's high-three average salary is based on the actual years and months of Federal service and is not based on the salaries of the highest three consecutive years prior to reaching the 41 years and 11 months. For most employees, their three consecutive years of highest salary is usually achieved at 41 years and 11 months. In my case however, it would be the last three years of my actual Federal employment: February 2006 to February 2009 not August 4, 2001-August 4, 2004 (the three years of service prior to reaching 41 years and 11 months). Since this basis of time frame used to determine the "high-three average salary" would make a significant difference in my annuity, I am writing to you for clarification. Thanks.

  rosemary borke Posted July 18, 2008 2:40 PM
• 54273
  

  A recent discussion developed about whether it was more advantageous for a CSRS to add unused sick leave to service time or to use it while still working. Is there a scenario in which it would be better to use up sick leave while still employed?

  Saski Posted July 16, 2008 8:53 AM
• 54188
  

  Great article, but there's much, much more to retirement than simply the dollars! Most people CAN pay off their big ticket items, or should be able to after working 30plus years. Unless you have severe medical or family problems that prevent you from retiring, it's time to go! Forget the worker bee mindset that you have to fill up every day, every day is yours! Alter your lifestyle to spend less, drive less, and the money will be there. YOU earned it, enjoy it now. Nothing is so depressing as a person who dies on the job..

  ChristmasTree Posted July 15, 2008 9:48 AM
• 54112
  

  I am curious if the Federal Government is considering a revamp of FERS? Especially since Social Security is under ever increasing pressure and TSP/Stock market is down ~25%. There is not much to look forward too when the only guarantee is 1% of high (3) x years of service.

  Dennis Mulloy Posted July 14, 2008 11:27 AM
• 54013
  

  I am planning on retiring in the near future. I currently collect social security and a survivor's annuity. How will this impact my CSRS retirement calculations, if at all. (My social security income is based on my own work in private industry, and I left private industry to work for the government in December of 1980. Thank you for this service.

  Eleanor Harvey Posted July 11, 2008 1:05 PM
• 54012
  

  I am retired with 30 years of government service (CSRS). But prior to my government service, I had 16 years of earnings under social security. With the WEP, those 16 years are basically for nothing. We shouldn't be penalized for also having a career with the government. Hardly seems fair.

  Dennis Iwata Posted July 11, 2008 1:04 PM
• 53986
  

  I have 10 years under CSRS, plus 900 hours sick leave frozen as earned under CSRS. Is the frozen sick leave creditable at the 2% rate towards CSRS service time?

  Michael Posted July 11, 2008 10:10 AM
• 53976
  

  I just finished the 3-day retirement class yesterday. We were referred to your columns and I was interested in the "best day to retire" for 2008. I found it and is there some reason why no days were highlighted for November 2008 (and March too) for CSRS? That is the month I had hoped to retire.

  Kathy Creighton Posted July 11, 2008 9:28 AM
• 53969
  

  I am a CSRS offset person who has redopsited all funds due, and has 30 years of Substantial SS earnings. It is my understanding that at retirement, I am going to have my SS reduced, by a fraction that takes into account my offset service. This seems unfair as I have earned my SS Credits O/S government service. Are there any exceptions. It seems the more I work offset, the less total SS I will have available. Help!!

  Baron Rightmyer Posted July 11, 2008 9:06 AM