CSRS Offset formula

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Q. Is there a formula to help figure out how much my annuity will be reduced at 62? I have approximately 30 years of paying Social Security, 14 of them with the federal offset. With my monthly annuity now and my estimated Social Security benefit at 62, can I lose money?

A. Your CSRS annuity will be offset by the amount of Social Security benefit you earned while covered by CSRS Offset. Therefore, you’ll be getting the same amount of money. It will just come from two different places: the Office of Personnel Management and the Social Security Administration. Use the following formula to estimate what the offset will be: Social Security benefit at age 62 x total years of Offset service divided by 40.

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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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