Excess deductions in CSRS


Q.  I  have now passed the 42-year mark and still pay deductions to CSRS.  If I request a refund or additional annuity when I retire, does the government contribution (which seems to be continuing according to my earning statement) become part of the equation?

A.  No, it doesn’t. When you retire, you will only receive a refund of your own contributions, plus accrued interest. OPM will notify you about the amount and offer you the option of accepting a refund or using the money to buy additional annuity, which isn’t subject to the 80 percent limit.


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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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