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?
How does agency “accommodation” of an employee’s medical condition impact disability retirement?
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?
In the past, many CSRS employees have been excluded from contributing to a Roth due to their income level. Here is information about a program that provides a way for CSRS and CSRS-Offset employees to get large sums into a Roth IRA.
The Special Retirement Supplement (SRS) is a payment that is made by OPM and is designed to approximate the amount of an age 62 Social Security benefit that is due to civilian service under the FERS retirement system. Most FERS retirees begin receiving the SRS at their Minimum Retirement Age.
A bill is moving through Congress that would allow FERS employees to count unused sick leave in computing retirement benefits. Is it more beneficial to take the leave or to save it for using in computing retirement benefits? Here are a few considerations–if this bill does get passed by Congress.
Nearing retirement? You are probably in the CSRS. Be thankful; you are in a system that is a remnant of America’s golden economic age.
What are the considerations in deciding when to retire? Should you wait until the end of the year? Which year? Which month? Here is an explanation of some major factors to consider in your decision.
CSRS employees get credit for unused sick leave when they retire which can create confusion for employees under FERS.