Q. I am a CSRS Offset retiree and have the required number of quarters worked for Social Security. If I file for Social Security at age 62, will the offset reduce my Social Security pension to zero? I was advised at a federal retirement seminar that when I file for Social Security, an offset would take place on my CSRS retirement. Is that true? Will my Social Security pension be adjusted? I turn 62 this year and plan to file for Social Security.
A. Normally, the offset in your CSRS annuity would be matched by the Social Security benefit you receive at age 62, resulting in your receiving the same amount of money but from two different sources. However, if you have fewer than 30 years of substantial earnings under Social Security, your Social Security benefit would be affected by the windfall elimination provision. While the WEP could result in a reduction in that benefit, it wouldn’t eliminate it. For more information on the WEP, read the Social Security Administration’s fact sheet at www.socialsecurity.gov/pubs/10045.html.