Are Federal Employees Prepared To Retire?
Although federal employees continue to retire, it is increasingly evident that they are not prepared to retire. The culprit is not only an economic one, but a lack of understanding of how their benefits really work.
Phased Retirement Plan – Other Provisions
Currently both CSRS and FERS employees may use unused sick leave to add to their years of service, but not towards eligibility for retirement.
Mandatory Retirement vs. Phased Retirement Classification
Individuals under special retirement conditions such as mandatory retirement may not participate in the Phased Retirement program.
Phased Retirement – Survivors Benefit
The Phased Retirement program as it stands provides no survivor benefit based on the proposed Phased Retirement annuity.
Phased Retirement – Who Can Participate
Phased retirement is a voluntary program where both employee and employer must mutually agree to be a part of the program.
Phased Retirement – The Process
Should Phased Retirement be implemented, instead of a retiree entering into full-time retirement, the retiree opts to work a part-time basis while actually being retired on a part-time basis.
Phased Retirement – Has Its Time Come?
The Office of Personnel Management (OPM) has proposed a “Phased Retirement” program. Although implementation has not been announced, it may be valuable to our readers to get a jump start on what Phased Retirement is all about.
Social Security Record for Your Ex-Spouse
The ex-spouse can choose between receiving only the spouse’s benefits when applying and delay receiving benefits until a date in the future.
Social Security Benefits for Working Ex-Spouses
The earnings limit may apply to your ex-spouse the same as you if they continue working while receiving benefits.
Social Security Benefits For Divorced Spouses
Let’s discuss Social Security and what it means if you are a divorced spouse. Although there are certain requirements that must be met, divorcees or ex-spouses can receive Social Security benefits based on your record even if they remarry.
