Reg Jones

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Articles

Within-grade Increases vs Quality Step Increases

Oct 8, 2024 | fedweek.com | Reg Jones

Let’s get back to basics on an important feature of federal pay. Most federal employees are under a grade-and-step salary system such as the General Schedule or Federal Wage System (more commonly called the wage grade system), which provide for advancement up the steps within a grade. There are two kinds. Within-grade IncreasesWGIs, which are also known as step increases, are added to your salary when two things are true. First, you have served a specified amount of time at a given pay grade.
How to Calculate an Ex-Spouse's Portion of an Annuity

Oct 1, 2024 | fedweek.com | Reg Jones

I recently read a question that a reader posted that got me thinking, and I’ve rewritten it to clear away any confusion and get to the point: “I’m a FERS employee who is retiring after 23 years of federal service (including buy-back). I was divorced in 2011 and my ex-wife was awarded 50% of my retirement. How much will she be entitled to?”Here’s the answer. She will be entitled to the maximum amount provided under law for the former spouse of a FERS annuitant.
Benefits For Those With Less Than A Full Federal Career

Sep 9, 2024 | fedweek.com | Reg Jones

Last week I wrote about employees who spend a full career in federal service and retire when they meet the age and service requirements to do so. That’s most of you. However, there are a substantial number of employees who will retire with fewer years of service. This time around I’ll focus of them. Age and service requirementsThe age and service retirement requirements to retire for those with fewer than 30 years of service are the same for CSRS and FERS.
Full Retirement for Federal Employees; CSRS, FERS + Supplement

Sep 3, 2024 | fedweek.com | Reg Jones

It’s time to get back to basics. Many of you have asked me how your retirement will be calculated when you retire. One good reason for asking is that you want to know how much money you’ll be entitled to before you make the plunge. With that in mind, I’ll now go over the rules governing the computation of CSRS and FERS annuities for most federal employees. I’ll start with CSRS because even if there are fewer of you left in the federal service, your computation is the simplest to describe.
How Your Annuity Is Treated For Tax Purposes

Aug 27, 2024 | fedweek.com | Reg Jones

There’s a lot of confusion about how a federal employee’s annuity is treated when it comes to federal taxes. Years ago, the rules were simple. The tax code held that the retirement contributions deducted from your pay would be tax free when you retired and began receiving an annuity. The logic behind that was this. Those dollars had already been taxed when they were earned. Only after those taxed dollars ran out – usually around 18 months – would you begin receiving the government’s money.
Deferred Annuity: Retire Now, Start Collecting Later On Without Reductions

Aug 13, 2024 | fedweek.com | Reg Jones

A deferred annuity is one where you have the age and service needed to retire but want to defer the receipt of your annuity to a later date. That’s now an extremely rare situation under the CSRS retirement system, so I’m going to set that aside. Instead, I’ll focus on those covered by FERS. FERS employees can retire under the MRA+10 provision (minimum retirement age—55 to 57, depending on year of birth—with at least 10 years of service) and defer the receipt of their annuity to a later date.
FEHB Coverage for Young Adult Children

Aug 6, 2024 | fedweek.com | Reg Jones

It’s a given that children who are covered under a parent’s FEHB self and family or self plus one options can continue to be covered by it until age 26. That’s true whether they are living at home or away from home. How it works out in practice depends. I’ll get to that in a moment. First, I want to establish who qualifies as a child. By law the term “child” includes your biological child, stepchild and legally adopted child.
Deferred and Postponed Annuities Under CSRS and FERS

Jul 30, 2024 | fedweek.com | Reg Jones

Most federal employees retire when they have the right combination of age and service to do so. However, there are two additional forms of retirement that on the surface sound alike but are actually different. One is the deferred annuity. The other is the postponed annuity. Eligibility Requirements – Deferred RetirementIf you leave federal service before you meet the age and service requirements for an immediate retirement, you may be eligible for a deferred annuity.
Can I negotiate my federal salary offer?

Jul 17, 2024 | federaltimes.com | Reg Jones

The following is a question submitted by a reader to Federal Times columnist Reg Jones, a charter member of the senior executive service and the resident expert on federal employee retirement issues. "I am a federal employee and I am hoping you will be able to provide some insight for my perplexing situation. I was hired in February 2023 as a GS-5 Step 1. In May 2023, I moved to another division within that department and became a GS-6. I currently work in this position.
Court Leave for Jury Duty or Serving as a Witness

Jul 16, 2024 | fedweek.com | Reg Jones

It’s question and answer time. I ask the question. You provide the answer. First, have you ever been required to be in court either as a juror or in a judicial proceeding? [Your answer.] Second, have you been called as a witness in which the federal, state, or local government is a party? [Your answer.]If you haven’t been yet, you may be in the future. If that happens, you need to know how the government will handle your taking time off from work.