Q&A from FedSmith authors addressing readers’ questions. We share them here to help you with your federal career or retirement planning.
These are some questions and answers that cover basic facts about FEGLI as well as considerations for federal employees who may be wondering what actions they should take during the upcoming open season.
I am at most four years away from retirement and am worried about another stock market decline along the lines of 2008 in light of events such as Brexit and the upcoming elections. Should I stick with a more moderate/aggressive investment approach in my TSP or move into something less risky?
My supervisor has deemed that GS-09 and GS-11 positions are not eligible for overtime pay and has been providing only comp time for overtime worked. We believe this is incorrect. Do you have any information that will tell us when it’s proper to receive comp time and when overtime pay should be paid?
Who is and who is not entitled to receive locality pay?
I am a FERS employee that has reached my Minimum Retirement Age. Is it wise to pay off our mortgage before I retire?
I’ve been told that I cannot contribute to an IRA for either 2015 or 2016 if I’m fully funding my TSP account; is that true?
I am a retired honorable discharged Air Force Reservist. I have a 5 point preference for spending time overseas in a military Campaign. Am I entitled to the Veterans Employment Opportunity Act (VEOA)?
I’ve heard rumors that Congress will be changing how our retirement is computed by mandating a “high-five” calculation, rather than a high-three. Is this likely to happen and, if it does, what will it do to our pensions?
Can I opt out or not contribute to the FERS-FRAE annuity system?
I am planning to retire from federal service soon and will being collecting Social Security as well as my federal pension. I also plan to work part time. Will the income from working penalize my Social Security income?
