Q: I have been a full-time Federal employee for 37-plus years under the Civil Service Retirement System. I am considering retiring by year’s end and working on a part-time basis (64 hours per pay period) for the next six to eight months. Will this affect my monthly retirement annuity calculation? A: Yes, it will. However, the shorter the period of part-time service is, the less its impact. You’ll find the formula used to compute an annuity with part-time service on the Office of Personnel Management website here (scroll down to Section 55B2.1-1). Although this section refers to Federal Employees Retirement…
Monthly Archives: April, 2011
Q: Please explain what CSRS Offset is. A: Civil Service Retirement System Offset employees are those who are covered by both CSRS and Social Security. In general, there are two categories of employees who are covered by CSRS Offset. First, those who had a break in service that exceeded one year and ended after 1983 and had at least five years of creditable service as of January 1, 1987. Second, employees who were hired before Jan. 1, 1984, acquired CSRS interim coverage between 1984 and 1987, and had at least five years of creditable civilian service by Jan. 1, 1987.…
Q: I retired under the Civil Service Retirement System Offset pension plan in 2001 (early buyout retirement at age 51 with 23 years of service). My husband passed away in August 2006. I started receiving a survivor benefit based on his Social Security earnings when I turned 60. My question is, should my CSRS Offset pension have been reduced by the amount of the Social Security that I am receiving based on his earnings, or does that reduction not take effect until I turn 62 and then is based on my Social Security benefit? The amount I am receiving as…
Q: I have been married to my husband for 28 years. He worked for the post office the entire length of our marriage. He is going to continue working for another five years, even though he is eligible to retire now. What happens if he passes away before he retires? An I still eligible to receive half of his retirement? How do I protect myself to make sure I can depend on receiving half of his retirement? A: You don’t need to do anything. If he were to die while still employed by the government you would be entitled by…
Q: I’m currently an employee under the Civil Service Retirement System drawing a monthly payment from Social Security under my ex-husband’s benefits. I’ve called and visited the local Social Security office and can’t seem to get a straight answer: I understand that I can’t draw Social Security in my own right because I am a CSRS employee, but will I continue to be able to receive Social Security from my ex-husband’s (now deceased) Social Security account? A: You might be able to receive survivor Social Security benefit while you are still working. To find out what the eligibility requirements are…
Q: If someone who is eligible for an immediate retirement annuity chooses to simply quit federal employment and submit for the annuity at a later time, where does that person apply for the annuity? A: You can apply on your own. Just go to the Office of Personnel Management website and click on Find Form(s). Fill out an SF 2801 (Civil Service Retirement System) or SF 3107 (Federal Employees Retirement System). After you’re done, print a copy and send it to the following address: Office of Personnel Management, Retirement Operations Center, PO Box 45, Boyers, PA 16017-0045 and mark it…
Q: Is military active duty for training time creditable toward total years of civilian service for retirement purposes under the Civil Service Retirement System or Federal Employees Retirement System? If so, has it always been that way? If it has not always been that way, when did it change? Please include any relevant law or regulation. A: You’ll find what you’re looking for on the Office of Personnel Management website here.
Q: I am under the Federal Employees Retirement System and have been employed by the Environmental Protection Agency for 26 years. I am a GS-12/6, and am 48 1/2 years old. I would like to know exactly when can I retire and any other related details. A: The earliest you could retire is when you reach your minimum retirement age, which in your case is 56. Because you will have more than 30 years of service at that time, you’ll be able to retire immediately and receive an unreduced annuity.
Q: I am a firefighter/law enforcement retiree under the Civil Service Retirement System. I have been retired for seven years and am interested in returning to work. A local federal agency is interested in having me work for them in a seasonal position as a GS-4. I would work from approximately May to October and would receive no benefits, as these types of positions/employees are not eligible for health insurance or retirement benefits. I would be paying into Social Security, which I am currently not collecting. The agency cannot seem to get a clear answer as to if it would…
Q. I am currently obtaining my health care benefits through the VA (disabled vet). I will be 65 years old in May. When I turn 65, I understand that I will fall under Medicare. I will then be eligible for Medicare Part A. Will I also be eligible for Part B? Also, if eligible for Part B, will I have to pay for this benefit? What do I have to do to be eligible for both part A and part B without having to pay premiums for Part B? If I hold off applying for Social Security until age 66,…