Does anyone know if you are out on short term medical leave , whether it affects your years of service or NCS in regard to retirement or health benefits?
For example , you are about to retire at 40 years but at some point in your career , you were out for 6 months on short term disability from a car accident. Does this in anyway reduce your retirement benefits?
To the person that said they are too young to retire (56). Retire, take your $1400 a month and then find a job that you will enjoy, one you look forward to going to every day. Your mental health will thank you.
I'd love to retire with my 35 years. Why am I still here? I have 2 kids 20 and 23 that I still pay health benefits for, a husband and a mortgage along with the usual housing expenses. If i retire now, I collect an annuity of @$1400/mo. or I take the cash balance. I'm 56, so too young to touch my 401k. How am I supposed to live on $1400/mo when my medical and taxes will be deducted from? I'd have to go get another job. That's why we stay so long!!!
Only if your disability was denied would your ncs change. But you can call fidelity and they can tell you if your ncs or (toe) changed
I've never heard that...that would mean alot of people would never retire. LOL! I dont think it effects you until one year is up. at six months you go on half pay. Thats just how I always heard it, could have changed.
Don’t worry too much. If you have 40 yrs of service then you’re wayyyy past retirement time. Why people stays so long, much longer that required? Maybe you could be drinking piña colada in the Caribbean a long time ago. Go and spend your money!
I’m not sure if an approved short term disability counts as a “leave of absence”. I don’t think it affects your NCS or benefits in any way.
If you are retiring after 40 years, a 6 months leave of absence shouldn’t affect you being retirement eligible, if eligibility = 30 years at any age. Whether you’re 1 day or 10 years past eligibility when you retire, benefit entitlement should be the same.
If you have been out on benefits, it will be the time you were out of work on benefits deducted from NCS
I believe only a leave of absence affects your service time.
Yes, leaves of absence are subtracted when it comes to pension calculation of years of service.
Good question , I think it means you really have retired with 39 years and 6 months then. I’m not sure though.