Q: When I started receiving Social Security retirement, my Social Security employment history was just under 30 years and so a modest WEP was applied to my benefits. Early the next year, with my 30th year W2 in hand, I was able to have my Social Security benefits recalculated to an amount absent the WEP. I also have a modest CSRS pension from about 11.5 years of service. When I reached age 62, but before I began taking Social Security benefits, a CSRS offset was applied, as I understand is a requirement of law. However, now that it can be…
Yearly Archives: 2011
Q: Is it possible to buy back only a portion of military service and not have to waive military retired pay. I have 21 years active duty and receive military retired pay. I also work for the federal government. In order to have my military service count toward civil service retirement, leave, etc., I would have to buy back all my military time plus waive my military retirement pay (some benefit …). Is it possible to buy back 10 years of military service and keep my military retired pay? A: No, it isn’t possible.
Q: I worked for the government, from 1974 to 1979, and when I left I withdrew my CSRS retirement money. I returned to the government in 1982 and plan on retiring with 35 years (CSRS) of service in July 2011. For those five years, if I do not repay the retirement money, can you tell me how much I will be penalized? I did not understand your response from the article ‘CSRS retirement money payback,’ dated Dec. 13, which read: If you make a deposit, your annuity when you retire will be increased by approximately 30 percent (2 percent times…
Q: I retired from the Federal Bureau of Prisons 10 years ago and I receive my monthly annuity. Is it possible to be hired for another federal job without it affecting my current annuity? A: Yes, it’s possible. However, the opportunities to do that are limited. Therefore, you’d have to confirm that you’d be entitled to receive both your annuity and an unreduced salary before accepting a position.