Q: I am a CSRS offset employee and I am 58-years-old with 30 years service. If I were to retire, I understand I would receive my pension from CSRS until I reach 62, then I would start to receive the same amount, but it would come from Social Security and CSRS. My question is, if I am working after retirement from the U.S. Postal Service, and after reaching age 62, and I have earned more than the annual Social Security earnings limit which for 2010 is $14,160, would the Social Security portion of my pension be reduced by $1 for…
Monthly Archives: December, 2010
Q: I am in FERS and work full time in the Veterans Affairs Department. In 1991, I bought back my four years of active-duty time. In 1995, I joined the Army National Guard. In 2009, I retired from the military and I currently receive military retirement. I plan to retire from VA in 2013 with 23 years of service. I know that I cannot add the four years of military time that I bought back in 1991 to my VA time. But is there a procedure to get back the money I deposited in 1991? Is there someone or a…
Q: I am a 57-year-old FERS employee. For the last 20 or so years of my 27-year career, I have carried a private life insurer (WAEPA) instead of FEGLI. Would it be beneficial to me to switch back to FEGLI, which I believe now has lower premiums? Also, how long would I have to carry FEGLI before I could retire? A: I have no idea if it would be beneficial for you to switch. However, if you do, you would need to be enrolled in FEGLI for five consecutive years before you retire to carry that coverage into retirement.
Q: Can I apply for an annuitant position while I’m still a regular CSRS employee? What does management have to do to open a job to allow an annuitant to apply? A: There is no such thing as an annuitant position. If an agency needs to fill a position, it may do so with an annuitant if there is a match between the job’s requirements and the annuitant’s skills. However, there is no requirement that it do so. FYI: In most cases, the salary of a re-employed annuitant will be offset by the amount of his annuity.
Q: I am a federal law enforcement officer covered under FERS. When I retire, I will be eligible to receive the SRS payment. I understand that it will be subject to an earnings test once I reach age 57 (mandatory retirement). I also understand that at age 62 the supplement will end, as I will then be eligible for Social Security. My question is, if I continue to work once I retire from law enforcement and I make enough money annually to eliminate any SRS payment, is that money forfeited forever? Can I get back those “lost SRS payments” when…