Re: #1 Thing to Know

Pray tell, exactly what has changed recently in retirement computations or benefits at the will/whim of Congress and the President?

Re: #1 Thing to Know

Congress was going to reduce the COLA to 60% of the CPI (deridedly called "diet COLA") figuring that you don't need the rest because you probably have your house paid for. (Shhhh!!!! They might match our CSRS COLA to that of the FERS.) Need any more reasons for joining the NARFE???

Re: What should all retirees know?

There are now 25 pages of responses to this question
Any Way to Get ANSWERS?
As we see most are confused and exasperated by the very complicated retirement system(s)
It would sure be nice to be able to get Real Answers ... Can't believe these systems are so complicated that even OPM can't get it right the first time much less your local HR people who only seem to be able to Guess at what your real retirement Might Be.

Re: Sick Leave

Some people need to think about the so called full benefit CSRS employees receive for unused sick leave. It really isnt all that generous. If for example, you are lucky enough to earn $70000 annually and had 2000 hours of sick leave, that would add $1400 annually to your annuity. Now under the proposal for FERS, they are offering 10% of your hourly wage for sick leave hours over 500, in my example, that would be worth a lump sum of $ 5025. There is no guarantee, a CSRS employee will be living long enough to collect that sum. Of course, they could collect more.

Its time for FERS employees who are abusing their sick leave to change their bad habits.

Perhaps, the best solution for FERS sick leave compensation would be to treat it the same as CSRS, add the sick leave balance to the SCD for retirement.

Re: Retirement and Medical Insurance

I agree that whether to sign up for Medicare Part B in lieu of my existing FEB health insurance (Blue Cross), or in addition to FEB health insurance, is a question that I have not been able to resolve on my own. I would appreciate further information/training on how to analyze this question, or a referral to someone who is knowledgeable about this question.

Re: Retirement and Medical Insurance

I, too, would like to know the answer to this. I have only 30 days to decide whether to accept or reject Medicare Part B. If the wrong choice is made, you can't regroup. Other retiree friends have opted for both the FEHBP and Part B because they couldn't resolve the dilemma.

Re: Retirement and Medical Insurance

My opinion: Yes, sign up for Medicare Part B. It would mean less or no out of pocket expenses for you in the case of serious illness. I think that it is worth it. You might be in perfect health now, but if your health declines you will be glad that you signed up for it.

Re: Retirement and Medical Insurance

You will need both BCBS and Medicare. When you retire Medicare will become your primary and BCBS secondary. (Unless, you are enrolled under another persons FEHB - then you will have to wait until they retire for Medicare to become your primary.) This will mean less out of pocket expenses in the event you are hospitalized. Also no co-pay for office visits.

Re: Retirement and Medical Insurance

You can suspend your BCBS and take Medicare Part B. When you suspend your BCBS you don't make payments and it sits there ready to reinstate if you need it. You DON'T have to waive it this way to cut expenses.

Re: Retirement and Medical Insurance

Suspension can take time to reinstate. Can be a real hassle in the event of serious illness. Of course, you would save money if you suspend....then you can use the savings to pay for all of those "out of pocket expenses" that aren't covered.

Re: Retirement and Medical Insurance

This also is my biggest dilemma in planning my retirement, which occurs in 40 more days. I have found that many doctors are opting out of Medicare in my state. However, when I reviewed the BCBS benefits document, I found that Blue Cross will only pay 115% of what Medicare would allow (about $0.43 on the dollar) if you decide not to participate in Medicare. It seems like those of us approaching 65 are over a medical barrel. Has anyone figured this out?

Re: Retirement and Medical Insurance

My Mother who had Federal Blue Cross, Blue Shield as a secondary insurance to Medicare Part A and Part B was refused care by many doctors including her current doctor. She had to find a new doctor when she became ill. The one she got, in a Medicare HMO, thought she was sucidal and didn't want to live. She was not - just a quiet person. He withdrew food without telling the family and he didn't treat a lung infection when one occurred, saying this was an extraordinatry measure. We forced him to treat the infection but she died of the resulting pneumonia. We learned that the Dr. made 6K per year, per patient. If he had hospitalized my mother or treated her, that treatment would have had to been paid out of the 6K, which he considered his profit. There is a lot of this type of murder going on under the rules of Medicare. Did I report this doctor. No, not yet, I was so shocked and my mother died such a terrible death that I have not been able to face it. Outlaw Medicare.

Re: Temporary time payback

How do I know what I don't know?
I too only recently became aware of this "pay back" option. It was only after the agency allowed us as employees access to the recently implemented computerized employee benefit systems such as the "Retirement Calculator" that I saw the term "Deposit/Re-Deposit". Then it took one full year for out HR department to calculate the sum that I would need to "pay back" in order to gain credit for time served. Hey HR, why not take another few years to get back to me? By then I'll "owe" another couple of thousand. At this point I've pretty much decided that it is not worth it for me NOW. The interest incurred is over twice the amount of the original amount "owed". It may have been very much worth the "pay back" ten years ago. Thanks for nothing.

Re: Temporary time payback

It must depend on where you work, I've been with the Forest Service for 21 years and the first month of my employment they ask me about paying back my military time, which I did. Now I have 3 years more time toward my retirement than I would had if I hadn't paid it back.

Re: Temporary time payback

It was my understanding back in 1985 or 1986 that IF you did not have enough social security credits when you retire you did not need to make the deposit for your military time. I hope I understood this correctly...

As far as part time I am hoping that congress passed the latest on part time work close to retirement. I am even more courious as to how it will work.

Re: What All Prospective Retirees Should Know

It is my understanding that for a spouse to keep federal health coverage after the death of an annuitant, there must be at least a minimal survivor's benefit chosen on the annuity itself. Some folks may not realize that.