Thanks...thats the way I read it. I'll just turn 50 in July. Considering taking the annuity and working part time elsewhere. Tough call because can't touch TSP for 9 1/2 years.

zippy17: Good Luck. I am not sorry one bit. Just be sure not to go over the limit you are allowed to earn at the part-time job, per year, so as not to jeopardize your supplemental pay. If you go over that amount, you won't receive it, and I don't think you can "re-start" the supplemental pay-if you decide to quit the part-time job. Life is too short, and I find waking up each morning, without the stress is so very nice. Enjoy it while you can.

to zippy17 if you retire under the vera you will recieve you regular annunity with out a reduction. you can also keep your insurance. your statement of benefits will have your mra(minimum retirement age) on the paper. you get a statement of benefits paper every year frome the po. that is the age that you supplemental pay will kick in and will last until you are 62. you can earn any amount of money you can until your supplemental kicks in. the supplement is governed by social security rules as far as how much money you can earn. you dont have to worry about it until you start getting it at your mra. if you dont take out your health insurance when you leave you can never get it back you can earn as much money as you want to until the supplement kicks in.

/m1188 huh, I admit I don't know beans about FERS, but that means a person taking VERA at age 50 under CSRS gets a 10% reduction and a person under FERS gets no reduction because of age. I hate FERS, CSRS is much easier to understand.:)

Edited by author 04-19-2009 11:40 PM
General question here in CO... I am not taking this VERA, by leaving just six months early it would be a difference of $30,000 minimum (assuming I live to 80 or so, lol!)! On line 3a. of the Application for Immediate Retirement it calls for "Your pay plan and occupational series"... what the heck is this? Anyone know? I am a letter carrier if that helps :).

I have been searching for the same answer for a while. On form SF-2801 CSRS retirement. Section B, Item 3A is asking for "Pay Plan & Occupational Series". Do anyone know where to find this information..
Personnel file at eOPF has form PS50 that shows an "occupational code", is that the same has "occupational series". Not sure where to look for the "Pay Plan". Any info appreciated...

/m1191 HR should have the answer at the tip of their tongue, but I would think that would be something like EAS for supervisors and City Carrier 1 and 2 and whatever the APWU schedule is called. The form instructions skip right over that question. http://www.opm.gov/retire/

Future Retiree and Jennifer Rowell,
Thanks for the info. Stll weighing options. I know it would be a lot less stress elsewhere. Recently had 2 friends die suddenly ..really gets you thinking about how long we need to wait before enjoying life...and now having the chance to make a change. Wonder if somebody's trying to tell me something..:)

zippy17: Life is way to short. I have also had some friends pass away, at very young ages. Once you make that final decision to retire, the weight just lifts off your shoulders. You have got to wonder, if not enough employees do take this offer---what will be next? As I said, with my annuity, a monthly allotment and the supplemental pay, although some adjustments will be made, I and my spouse, will be able to handle the early retirement. I wish you luck--it really does make a difference every morning, when I wake up and not have to worry, who showed up to work, who didn't, what POOM was going to call and why, why I was 2 hrs. over budget, why I need an order for copy paper or ribbons? It was getting too, too bad. Today, one of my friends told me that Shared Services has not paid their polar water invoice, nor their gas heating bill. That is scary!

/m1193 Zippy, there is life after the Post Office. I retired 4 years ago and took an Auditor job with the state, because I was 57 and not ready to quit working. I work 4-10 hr days and have a 3 day weekend every week. I sock a grand a month into a 457b plan and in 4 years I become eligible for a 2nd retirement and Social Security. I am in better physical and mental shape than when I worked in the PO. Frankly, I think if I had more than 3 days a week off I would go bananas.

Hi all. I've been on medical retirement & receiving payments from OPM since 2007. I just received my 1st medical questionnaire wanting updated info on my condition. Has anyone been through this? I'd like to discuss the best strategy for approaching this. Memories of the combative attitudes when I applied for retirement are fresh in my mind & I'm very scared that they will try to take my pension away. How difficult are they on annuitants, that is, regarding the medical questionnaires?
 Thanks, Lacy

zippy17 and other FERS who want to take VER. You CAN access your TSP $$ before age 59 1/2 without penalty by buying an annuity through TSP (MetLife). Low interest rates at this time might mean this is not a good choice, but you should know at least,that this option is available.
You can also tap TSP money by taking the option known as "substantially equal periodic payments" (SEPP)--you can figure the amts on TSP website--see payments calculated on your "life expectancy." I think the figures are generally lower than an annuity would be, but at least you can tap the money that way.
Good Luck: I just took the VER in Jan and I love having the freedom and time and absence of work stress.

  wHILE ON A RETIREMENT CAN YOU WORK AT THE PO

  hI IM 56 AND ON A DIS RETIREMENT CAN I WITHDRAWL FROM MY TSP AND WHAT PENALTIES WOULD I HAVE TO PAY THXS

bobby baker: Yes, you can work P/T at the PO, but again, you can not jeopardize your disability payments, by making too much money while working part/time.
As long as you are over age 55, you can either choose to take monthly allotments, or monthly annuities. There are no penalties. I am taking a lump sum, plus completing the paperwork for a monthly allotment. This way, the remainder of my TSP-will stay with TSP, and I can always go online and change the way my money is invested from fund to fund. Also, keep in mind that you must pay income tax on this money, whichever way you choose to withdraw it.

   THANKS FOR your reply,if i was to take 30,000 out how much would i pay in taxes thxs