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Channel: High-3 – Ask The Experts: Retirement
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Planning for retirement

Q. I will be 62 the end of June this year. I am in FERS, would like to retire this year and am trying to make a sound decision regarding what date would be best. 1) I have 918 sick hours accumulated....

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Leaving federal service

Q. I am a federal employee (FERS employee from January 1988 to the present) who will likely be leaving federal employment for a private sector position in a different city. What happens to the...

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Service separation bonus and annuity computation

Q. I have 14 years and 8 months of active Army service. In 1993, when Regan was initiating draw down of troops and instituted SSB (Service Separation Bonus), I received a Service Separation Bonus in...

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Deferred retirement

Q. I am 50 and I have been in government for 27 years. I am going to apply for a deferred retirement at age 60 or 62.  I thought I read somewhere that the “high-3″ was consecutive. If I was a GS-13 and...

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High-3 computation

Q. Between 2009 and 2012, I served two deployments in Afghanistan as a GS employee (CSRS). Can my salary during those deployments be used in the computation of my high-3? A. No. Only actual basic pay...

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Night differential

Q. Is night differential (shift work) added to my high-3 when calculating my retirement annuity? A. No, it isn’t, unless you are a wage system employee. Then it is.

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Location and high-3

Q. I am a Defense Department employee in Washington D.C. If I change my locality three months before I retire Jan. 1, when I retire would the lesser locality pay kick into my base and be used as the...

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High-3 for firefighter

Q. I am a USFS firefighter with 17 years of 6c covered firefighter/law enforcement service. If I take a temporary promotion/detail in a non-6c covered position during my last 3 years of service (my...

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High-3 calculation

Q. I am 63 years old with 20 years of federal service. I am in FERS and I just got promoted to GS 13. How long to I have to work to get the GS 13 included as part of my high-3? A. A high-3 is based on...

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High-3 and COLA

Q. I will be moving from a lower Cost of Living Allowance (COLA) area to a higher COLA area (a difference of 6 percent). The first two years of my high-3 is at the lower COLA and the last year will be...

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Buy back and retirement

Q. I served in the military on active duty for 14 years. I am in the process of buying back my military service as a credit toward retirement with the federal agency with which I am currently employed....

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Retirement eligibility under MRA+10

Q. I am 54 years old and have been working for the U.S. Postal Service for 22 years as a city carrier. Am I eligible for retirement? What percentage of my pay will I be able to receive? A. No, you...

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Locality pay

Q. Is locality calculated separately from base pay for retirement? Is locality also a high-3 calculation, or is it based on locality of location when you retire, or is it the locality where you earned...

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Deferred annuity

Q. I am 50 years old with 30 years of service. Can I resign and not receive any benefits, until I turn 57 years old, without penalty? A. Yes, you could receive a deferred annuity at your minimum...

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Annuity

Q. If I retire at age 50 with 20 years of service, what will be my monthly income? A. Assuming that you accept an offer to retire under the Voluntary Early Retirement Authority, your annuity would be...

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High-3 clarification

Q. How does one calculate top three? Is that the amount you make annually for the last three years of your top salary? For example: .01 x $62,000 x 20 (with $62,000 being the average of one’s top 3)....

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High-3 and the pay cap

Q. Is the High-3 only up to the pay cap? Does the pay cap even matter when determining the High-3? A. Your High-3 is based on the amount of basic pay you actually receive (the amount from which...

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Deferred retirement

Q. I am 47 years old and have 22 years of federal service at the Department of Veterans Affairs. I am thinking about leaving the VA to pursue other career options. I want to defer my retirement and...

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Deferred retirement

Q. I want to defer my retirement and get out at 50/20. It’s my understanding that if I wait until 60 to claim my retirement, I will retire with full benefits as if I had waited until the minimum...

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FERS disability + Social Security disability

Q. Can you receive FERS disability along with Social Security disability? I have 12 years of U.S. Postal Service service and am 46 years of age. A. A qualified yes. Let me explain. During the first 12...

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