@@RonnieShepard-p1v Yes, the supplement is taxable. It goes on your income taxes along with everything else that you have and that amount set your bracket. It’s not a specific tax amount it’s based on your bracket.

@@debbiehatch8016 ok thanks am at 22%

Glad you found the channel too. Only Title 10 time can be purchased, not 32.

The special employee category class is four hours. I can’t do it in 20 minutes. But I can do a short snippet about how special provision employees are different from traditional employees. I’ll put that on my to do list. Thank you for the suggestion.

@@debbiehatch8016 Absolutely, thank you for the response !

Thank you so much for letting me know you found it helpful. 😊

You don't sound like a dummy - just, uninformed on the topic. You haven't been able to sit across from people in an HR for coaching for quite some time now. It's not been a great change in my opinion, but no one really cares... Alas. I am saying your 6 years of military time counts towards annual leave accrual ONLY unless you buy it back. If you make a military deposit (the topic of this video), that 6 years will then also count towards your retirement. If you have 14 years of civilian work and you buy your military time, THEN you will have a total of 20 with the government. You could retire 6 years earlier and it would add 6% x high-3 to your annuity for the rest of your life. Watch the video again with this lens and let me know if you have questions.

@@debbiehatch8016thank you so much for responding so quickly, I really appreciate it! I will definitely stay in contact with you.

Thank you so much for letting me know you found this helpful.

They can not. Comp Time earned for working overtime will typically pay out when a person retires - just as you annual leave. Comp Time for Travel is use or lose, it does not ever convert to money. Use that prior to retirement.

@@debbiehatch8016thank you

I'm thrilled you found the training helpful. Thank you so much for letting me know. Sad OPM is not getting back to you but most definitely not surprised. The Supplement is prorated. When we do the calculation in class, and most certainly here in 15-20 minute snippets, I should you how to do just an estimate so we do round to full calendar years. Here is a link to Chapter 51 of the OPM handbook if you'd like to see the "factual" way this computation is done. www.opm.gov/retirement-center/publications-forms/csrsfers-handbook/c051.pdf

It is in the same monthly deposit as your FERS.

@@debbiehatch8016 okie dokie - thank you. 🙂

Your opinion and you are most definitely entitled to it.

Yes, but, to do one without penalty it's limited to $1,000 per year.

www.irs.gov/pub/irs-drop/n-24-55.pdf

Does not TJ. Making the deposit, and waiving the military retirement, gives you credit towards retirement only.

@@debbiehatch8016 Thank you

Yes, WEP will apply in that situation. I'm sorry. www.ssa.gov/pubs/EN-05-10045.pdf

Sick leave does not count for a Deferred Retirement. It does count for MRA+10…both immediate and postponed.

Thank you very much for the nice compliment. I'd love to have time to do more videos - problem is, You Tube doesn't pay the bills. I'll make new episodes as I can. Again, thank you so much.

I apologize for the delay in getting back to you. My email has been down for three weeks (!!!!) at this point and I don't know when they're going to get it fixed. In the meantime, I'm looking for stuff, manually. Simplistically, you get credit for the money you actually received so - in your example, $50K not $100.

Yes, Jeff, I'm still working. My priorities have been teaching and consulting though. You Tube has always been a back-burner item for me. I get to it when I can and help, voluntarily, as much as possible but not as often as I'd like.

I can't answer them if you don't tell me what they are. How can I help?

Do fers retirement can only make 22300 after age 62 or can they make earn as much as they want unlimited

@@samanderson9311 The earnings limit goes away at age 62. After that, people can make as much as they want without impact.

You're definitely entitled to your opinion. Many people consider sick leave to be "money in the bank" though. It's not an entitlement: it's more an insurance policy for when/if we're sick. Remember FERS employees received nothing for a very long time. The fact that it is now added to our annuity payment is a nice change.

I love that so much, Matt. I'm glad that class served you well. Thank you so much for letting me know. - Debbie.

Congratulations. At 60 with 17 years, you are entitled only to the MRA + 10 retirement. As you've stated, there is a 5% per year penalty for each year you start collecting under age 62 (2 X 5 = 10% reduction . This is permanent for the rest of your life. If you wait until 62 to retire, or to start collecting, there is no penalty. Also, if you were to work until age 62, and have 20 years at that time, instead of your annuity being 1% X high 3 x 17, it would be 1.1% X high 3 X 20. In neither case will you be eligible to receive the FERS Sujpplement.

Thank you, sincerely, for the nice compliment.

Your comment thrills me, Chris. Thanks so much for taking the time to leave it.

Thank you for taking time to leave me a nice message and compliment. I'm glad you found the video helpful. When you reach 65, if you are still working, and still have your spouse on your FEHB, neither of you need to sign up. You can both enroll up to 8 months after you retire, no matter how old you are, without penalty. This is called the Special Enrollment Period. Here's what I hope is an easy way to understand it. You have three different times when you can enroll. (1) Initial Enrollment Period: 3 months before, the month of and 3 months after, a person (everyone is an individual here) turns 65. OR (2) Special Enrollment Period: Up to 8 months after retiring IF you were covered under your own, or a spouse's FEHB and that person was still working, at 65. OR (3) During the annual open season January - March. It is signing up during open season that comes with the penalty.

@@debbiehatch8016 Thank you!!! That is very helpful.

Sorry. :-) The good news is, those few months should pass quickly with a light at the end of the (proverbial) tunnel.

Thank you so much. Your FERS retirement benefits are separate from your Social Security benefits (there is an bit of an exception if people retire on a FERS Disability but that's not applicable to you). Under MRA +30, yes, you will be eligible for the FERS Supplement.

Hi Robert. I apologize for the delay in getting back to you. You do not have to buy that time back in order for it to count towards your annual leave accrual (which is the SCD you're looking at). IF you want that time to also count towards your retirement, it would require a military deposit.

@@debbiehatch8016 thank you very much.

Good morning. It is absolutely normal not to have a huge amount in there. It is only 0.8% of what you've earned over the past 20 years. That said, please do know this small amount do not impact the amount you'll receive in your pension which is calculated as Creditable Service X High-2 Average Salary X 1% or 1.1% depending on age.

@@debbiehatch8016 yeah i was sitting at work with a co worker and we were talking about deductions and we seen i was at 6800 and he was at 22k on that. only thing we wont the same on is that i been working twice as long as he had.

LWOP does not reduce the high-3. It is not money earned, it is annual pay assigned to the position. That said, LWOP in excess of 6 months per calendar year can impact leave accrual, within grade increases and service computation dates.

Thank you very much for letting me know you found value in this.

A few points to remember: 1) to get a full retirement under Federal LEO, you must have 20 years of service. 2) As a federal LEO, you earned 1.7% per every year of service. So when you left that position, you had accumulated 22.1 %. 3) When you returned to the federal gov. as a civilian, you now earn 1% per every year you work and not 1.7. 4) let’s say you stay as a civilian until you retire from federal service; your retirement will account for the time you were as an LEO plus the time you completed as a civilian. And they will take you to a high 3 in your federal service. (HOWEVER) 5) because you DID NOT complete your 20 years as a Federal LEO; therefore, your 13 years at 1.7% will convert to 1%. In other words, you left money on the table. 6) in short, unless you return to federal LEO coverage and complete seven years to get your 20 at 1.7%, your retirement will be based on 1% per every year of service. Suppose you choose to return to federal LEO service. In that case, you have to make sure you don’t turn 57, the mandatory retirement age for Federal LEOs, within those seven years because otherwise, you will not be able to retire in time, which has to do with your current age and break in service. Good luck.

I'm so sorry it has taken me this long to respond. Sometimes You Tube sends me comments; other times (like this) I have to just happen up on them. I'm glad you got the video exactly when you needed it. Your retirement is calculated by multiplying your high-3 average salary by your length of service by a formula based on the way you retire, and potentially your age. Let's assume you're under 62 and, say your high-3 is $75,000 and that you worked 30 yrs 11 months vs 31 years, it would only be a $5.19 per month difference BUT it would also increase your FERS Supplement, if you're eligible for that; you'd have 16 more hours of annual to be paid for and 8 more hours of sick leave to add to the calculation. You would have another month of TSP contributions (both from you, and if you're FERS, the government). It can make a difference in the amount of COLA you receive the first year, plus all the other things mentioned in the video. You definitely don't HAVE to retire on 12/31 but a lot of people do, for a lot of reasons.

Thank you very much for letting me know it was helpful.

Congratulations on your upcoming retirement. Thank YOU for letting me know the video was helpful.

Thank you so much for letting me know.

First, my condolences on your dad's passing. I'm sorry. If your dad was paying for for BX5 until age 65 and then the payments stopped, he must have elected "Full Reduction" when he retired. With that, Option B becomes free at age 65 but, at that same times, starts reducing in value by 2% per month until it goes to zero. If your dad passed away 2 months after turning 65, the value would have only decreased by 4%. You are ENTITLED to the correct payout. www.opm.gov/retirement-center/calculators/fegli-calculator/option-b-additional-insurance-in-retirement/ If OPM is claiming your dad went down to 1X, ask for a copy of that documentation. If they can't provide it to you, file a Congressional complaint. Let me know if I can help, or answer any additional questions for you.

January will be here before we know it. Congratulations on your impending retirement.

There is no income restriction on your CSRS. While there is a limit for the FERS retirees who are receiving a Supplement, you can work and make as much money as you want to without impacting your CSRS Annuity.

Sorry that’s true. Let me know if you have any questions.

You’re welcome. ☺️

Thank you for letting me know it's was helpful to you.