The Windfall Elimination Provision (WEP) reduces, but does not eliminate, the earned Social Security benefit of a person who is also receiving a pension from a system where no Social Security payments were withheld.
Mark Twain said what we do not know does not hurt us as much as what we think we know, but do not. What does “inherently governmental” mean? Why does it matter?
In calculating a FERS annuity supplement, you will find some years in which a retiree was not in pay status for the entire year. When this happens, the retiree’s salary for the entire year must, by law, be “deemed,” or legally fabricated. How is this done? Here is an explanation.
Your annuity is what is known as a “defined benefit” annuity. This means it is based, essentially, on just two numbers: length of creditable service, and high-three average salary. Here is how that is calculated.
Until late last year, FERS employees in the twilight of their careers were faced with a dilemma: What should I do about my sick leave? This has recently changed and FERS employees now receive credit for their sick leave. How does this work in practice?
You have contributed to a retirement fund for years. How do taxes work when you begin to withdraw that money? Here is a quick explanation.
Everybody knows what the high-three is for your future retirement – right? But who knows how to calculate the high-three?
The FERS annuity estimate is really simple to calculate. But the actual supplement you are paid can be significantly less than the estimate. How does this happen?