Q: I am contemplating retiring under a Voluntary Early Retirement Authority (VERA)/Voluntary Separation Incentive Payment (VSIP) authorization that expires Sep. 30, 2011. I realize I will take a two year, one month penalty. My question is, as a CSRS retiree, if I return to employment outside of the federal government, what is the maximum percentage of earnings I can make without affecting my annuity?
A: Whether you get a job in or out of the federal government, there wouldn’t be any limit on the amount of money you can earn after you retire. However, if you returned to work for the federal government, one of two things would happen: Either your annuity would be terminated and you’d receive the full salary of your new position or your full salary would be offset by the amount of your annuity.
