Q: I’ll be retiring in the near future with Civil Service Retirement System. I have been told that after I retire, I can work as an intermittent employee. I have read that my pay would be reduced by the amount of my annuity during the time I work. How is that calculated? Is my annuity paid on a “per day” basis, a weekly basis or a monthly basis? If I work 15 days in a month, would my monthly annuity get cut by half, or considering that 15 days is three weeks, would it be cut by approximately 75 percent? If I work five four-hour days for one week within a month, how is it figured then?
A: Because the hours you would work would vary from pay period to pay period, your agency would have to compute the offset for each pay period. To better understand the offset process, go to http://opm.gov/retire/pubs/handbook/C100.pdf and scroll down to Section 110A4.1-1, Amount Offset From Pay.