Retirement (FAQ)

Maintainvfr

Forum Sage
Messages
525
Where can I find the list of NATCA retirement seminars?
Go to the member center on the natca site and click on the link that says calendar. Then when you hit "show controls" you can choose to only show retirement seminars.

I have seen another list of them somewhere else but I'm not sure where to find that one.
 

Outlaws7

Member
Messages
7
If you have military time that you bought back and that puts you over 30 years do you get the 1.7% for that full amount?
 

jdatc

Trusted Contributor
Messages
248
I recall reading in another thread here that high 3 includes your time at a facility even if you do not complete training there (Example: Training at a level 11 for a year but then NESTing out, the base pay you had during that time, assuming your salary never reached a high at that point again during the rest of your career, is counted as 1 of hour high 3). Is that true/is there any documentation on that?

Probably wouldn’t workout since the high 3 is averaged over 3 consecutive years. So unless you did it at the very end of your career, odds are at some point the average of 3 consecutive years of salary would be higher if you continued to get raises working at your old facility.

Example you made 60k/62k/100k (trainee and wash). High 3 is 74k average.

If you stay at the same facility and eventually make 74k/75k/76k the high 3 is greater.

You don’t get to take the 75k/76k/100k since it wasn’t consecutive.

Computation
 
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jdatc

Trusted Contributor
Messages
248
I've either been overlooking or understanding it wrong....I never realized the years being consecutive was a requirement.
I didn’t either till I read the OPM site. Good to know though, I don’t think many people know it.
 

rconpw

Member
Messages
10
Under FERS system, does trading in unused sick leave for additional creditable service months/years count as "good time"? For instance. If you have 29 years as CPC and turn in 1 year of sick leave upon retiring do you get the 1.7x for 30 years benefit of your high 3 years? Or only the 1.7x20years +1% each additional year of high 3? According to OPM guidance it says it is creditable service, but not whether it is "good time"
 

Robertb

Forum Sage
Messages
571
Under FERS system, does trading in unused sick leave for additional creditable service months/years count as "good time"? For instance. If you have 29 years as CPC and turn in 1 year of sick leave upon retiring do you get the 1.7x for 30 years benefit of your high 3 years? Or only the 1.7x20years +1% each additional year of high 3? According to OPM guidance it says it is creditable service, but not whether it is "good time"
Did you also reach your MRA?
 

Move78

Forum Sage
Messages
1,001
Under FERS system, does trading in unused sick leave for additional creditable service months/years count as "good time"? For instance. If you have 29 years as CPC and turn in 1 year of sick leave upon retiring do you get the 1.7x for 30 years benefit of your high 3 years? Or only the 1.7x20years +1% each additional year of high 3? According to OPM guidance it says it is creditable service, but not whether it is "good time"
You cannot sell back a year of sick time to get MRA+30
 

Robertb

Forum Sage
Messages
571
For this example let's assume I did not. It was at age 56
Then, your options are:
- Sell back sick leave at 40%. (Example: 2080 hours of sick leave at $60 a hour is $124,800. Then, take 40% of that to get a payout of $49,920.)
- Add it towards your retirement to get an extra 1%.

29 years of service:
1.7% x 20= 34%
1% x 9= 9%
Total= 43% ($53,664) plus one time cash out of $49,920.

30 years of service:
1.7% x 20= 34%
1% x 10 = 10%
Total= 44% ($54,912)
 

Outlaws7

Member
Messages
7
What are the requirements to get the 1.7% for 30 years? Does buy back of military service count ? Ex 25 years worked + 10 years of military time bought back. Would you get 1.7% of 35 years or would you get 1.7% of 20 years and 1% of the remaining 15 years?
 

tegsr94

Member
Messages
8
When you start to receive your pension, do you pay social security/medicare taxes on pension income? I know you obviously pay federal income tax, and state depends where you live. Same with the SS supplement, do you only pay federal income tax on that?
 

FightingIrish2012

Forum Sage
Messages
633
When you start to receive your pension, do you pay social security/medicare taxes on pension income? I know you obviously pay federal income tax, and state depends where you live. Same with the SS supplement, do you only pay federal income tax on that?
You do not have to pay SSN and Medicare tax on that, you only pay that on true wages while actively working or rarely on some capital gains. You could win the lottery and that would also not be SSN taxed.
 

GMX

Trusted Contributor
Messages
211
Does the 1.7% calculate on "years of ATC service" or "years of ATC CPC service"?

For example: One retires with exactly 20 years of total ATC service but it took 1.5 years to reach CPC.

Which one is it?
1.7% x 20
1.7% x 18.5 + 1.0% x 1.5
 

GulfBravoPapa

Forum Sage
Messages
1,041
Does the 1.7% calculate on "years of ATC service" or "years of ATC CPC service"?

For example: One retires with exactly 20 years of total ATC service but it took 1.5 years to reach CPC.

Which one is it?
1.7% x 20
1.7% x 18.5 + 1.0% x 1.5
ATC service
 

Stevo62

Member
Messages
26
Does the 1.7% calculate on "years of ATC service" or "years of ATC CPC service"?

For example: One retires with exactly 20 years of total ATC service but it took 1.5 years to reach CPC.

Which one is it?
1.7% x 20
1.7% x 18.5 + 1.0% x 1.5
It's 1.7% x 20 it's all years of atc good time (training is good time), staff time would be at 1.0%
 

rconpw

Member
Messages
10
What happens if you leave federal service before you are eligible for retirement? Do you receive any reduced pension/annuity? Also what kind of FERS Lump sum could you expect? From what I've read you don't receive health/life insurance anymore.. The rest I can't seem to find.
 

Termine

Trusted Contributor
Messages
151

All your FERS contributions are returned as a lump sum, except if you have five or more years of service you can opt to not do that and instead keep it for "deferred retirement" and draw a tiny pension when you get to retirement age.
 
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