Q. I am a federal government employee under the Civil Service Retirement System. I started Nov. 24, 1968. I have 42 years, 9 months. I have 40 quarters paid in Social Security. I have been to the Social Security office and asked about the amount of Social Security I would draw. The monthly total was $239 a month before age 66. Then it would be $249 a month after or at age 66. I have my CSRS benefit estimate report. I need to know how Social Security will affect my CSRS retirement pay. I would like to retire, but I need to know what I would be bringing home before I can even start to make any plans. Could you help me with this information?
A. While your eligibility for a Social Security benefit will have no effect on your CSRS annuity, the fact that you’ll be receiving an annuity from a retirement system where you didn’t pay Social Security taxes means that your Social Security benefit will be impacted by the windfall elimination provision. The WEP reduces — but doesn’t eliminate — that benefit. To learn more about the WEP, go to www.socialsecurity.gov/pubs/10045.html. Then go to www.socialsecurity.gov/retire2/anyPuiaWepjs04.htm, where you’ll find a WEP calculator.
