Q: If one is drawing a FERS annuity and receiving the special retirement supplement, how do any earnings in excess of the earnings limit get paid back to the Civil Service Retirement and Disability Fund? Does one write a check at the end of the year?
A: When your earnings in one year exceed the earnings limit, your special retirement supplement will be reduced in the following year. The reduction cannot be more that the total amount of SRS you received during the year when the excess earnings occurred.
2 Comments
I am receiving the Fers offset supplement. I was wondering since I wil lose the offset at age 62 can I earn an unlimited amount in my 61st year without penalty, or will I have to pay back that amount that exceeds my supplement cap?
No.