Q. I retired as a FERS annuitant on Feb. 1, 2006 at age 62 plus a couple of weeks. If I am rehired please help with these questions. Will my current FERS gross annuity before taxes be deducted from the new gross salary before taxes? If I have the maximum for retirement, including the over-50 extra amount, deducted and invested in the Thrift Savings Plan, am I matched by the federal government and vested from day one for as long as I decide to work? I left my TSP with the federal government and I have not taking anything from the TSP. I currently work as a federal contractor.
A. As a rule, the amount of your annuity before any deductions will be subtracted from the salary of your new position. So, for example, if your annuity was $30,000 and the salary of your new position $100,000, you’d only receive a salary of $70,000. Before accepting a position, you should find out if you would be hired under one of the exceptions that would allow you to receive both your annuity and the full salary of the new position.