Q&A from FedSmith authors addressing readers’ questions. We share them here to help you with your federal career or retirement planning.
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?
I’m planning on retiring at the end of May. However, last week my agency announced that it was undertaking a re-organization that is likely to affect the area in which I work. Very often agencies will offer buy-outs during an organization; should I wait for a buy-out?
I am 61 and have heard that I can take my money out of the TSP and place it into an IRA. I have been trying to manage my TSP the best that I can, but, my TSP has lost 20% this past year. Should I place my TSP into an IRA so I can still retire when I want?
