How long to work if reemployed to recompute annuity?
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I just started receiving my deferred FERS pension since I turned 62. My former agency has asked if I want to come back full time. If I do, how many years do I have to work before retiring again, in order for my annuity to be recomputed based on a new high-3 average?
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Private answer
For a supplemental annuity, you need a year full time or a year of equivalent full time service and they will add to your current annuity. To qualify for a redetermined annuity, you must work five years full time or five years equivalent service to have it redetermined.
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Private answer
If you are FERS, retirement contributions must be withheld no matter the type of appointment you are hired under. In the computation of a supplemental annuity, FERS service is credited at the rate of 1 percent of the average salary per year of service and is added to your current annuity. Are you aware that the pay received during reemployment is offset by the allocable amount of annuity unless you have an exception, in which case if there is no offset, you cannot earn a supplemental or redetermined annuity?
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