The following is a question submitted by a Federal Times readers about retirement and other issues facing the federal workforce. It is answered by Reg Jones, a charter member of the senior executive service and a Federal Times columnist since 1995.
Question: I retired under FERS from the VAMC just to return 1 year later to be re-employed as an annuitant. I am planning to retire for good this year. I’ll have been reemployed for three years in February 2023. Would it be better to wait and retire the end of January 2023?
Reg’s Response: When you retire again, you’ll be entitled to a supplemental annuity based on your years and full months of service. Retiring on January 31 would entitled you to one more month of service and be used in your annuity computation. Also, since that supplemental annuity will be calculated using your biweekly pay rate for your entire period of reemployment, the annual pay increase that goes into effect on January 1, 2023 would give you a two pay period bump in your annuity computation.
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Reg Jones is the resident expert on retirement and the federal government at Federal Times. From 1979 until 1995, he served as an assistant director of the U.S. Office of Personnel Management handling recruiting and examining, white and blue collar pay, retirement, insurance and other issues. Opinions expressed are his own.