Questions & Answers

Q&A

EMPLOYMENT

EXCESS CONTRIBUTIONS

QI’ve worked longer than 41 years, 11 months and I have exceeded the CSRS maximum annuity. How are the “extra” contributions being made to CSRS returned upon retirement?

AOPM will determine the amount of any excess contributions and return them to you with interest when your retirement has been fully adjudicated. They will apply the excess amount first to any deposit owed for non-deduction service (potentially creditable federal service that was not covered by CSRS or FERS retirement deductions) and refunded retirement contributions that were refunded on or after March 1, 1991. OPM will then provide you an opportunity to purchase an additional annuity benefit before refunding your contributions. FERS does not have a maximum retirement benefit computation, therefore “excess contributions” do not apply.

RETIREMENT APPLICATION

QIf I have BCBS dental insurance, do I need to select the YES or NO on Section D, #4, of the CSRS SF 2801 retirement application that asks, “Are you enrolled in the Federal Dental and Vision Insurance Program (FEDVIP)?”

AYou need to answer “Yes” to the question on the retirement application form (FERS SF 3107 in Section E or CSRS SF 2801 in Section D). Your Federal Employees Dental and Vision Insurance Plan (FEDVIP) will automatically continue when you retire if you are enrolled as an employee. Your payroll provider will inform BENEFEDS you are no longer a current employee. There is a phone number (1-877-8883337, TTY: 1-877-889-5680, or International: +1-571-730-5942) on your retirement application form to call BENEFEDS to arrange to pay the premiums while you are in interim status with OPM during the processing of your retirement. OPM will begin to withhold premiums once your CSRS or FERS retirement benefit is finalized. During Open Season or if there is a qualifying life event, you may enroll, cancel or change your FEDVIP coverage at www.benefeds.com.

THE FOLLOWING QUESTIONS

& ANSWERS were compiled by NARFE’s Federal Benefits Institute experts. NARFE does not provide legal, financial planning or tax advice or assistance.

ANNUAL LEAVE PAYOUT

QDecember 31, 2022, is my retirement date, and last day on the rolls of my agency. When will I receive my lump-sum annual leave payment and how is it calculated? Also, will I receive anything if there are leftover credit hours or travel comp time?

AEmployees who leave federal service will receive a lump-sum payment for all their unused annual leave on record as of the date of separation. December 31, 2022, will be a popular date for retirement, as it is the end of the leave year for most federal employees as well as the last day of the month, which will allow your FERS (and CSRS) retirement benefit to commence on January 1, 2023. Employees who carried over 240 hours of annual leave from 2021, and earned 208 hours in 2022 (and didn’t take