Q. I am a retired CSRS employee and started receiving benefits at a reduced level at age 47 (with 31 years of credited service) due to the BRAC. I worked enough quarters between the City of Norfolk, Va., and NEXCOM (a nonappropriated fund business) to qualify for Social Security.
I am still working full time at NEXCOM and plan to start receiving Social Security benefits when I reach 66. Can I continue to work and still draw Social Security, or is there a limit on the amount I can earn and still draw the Social Security? And will the CSRS offset affect the Social Security?
A. Assuming that age 66 is your full Social Security retirement age, you’ll be able to draw your Social Security benefit while still working. However, because you’re receiving an annuity from CSRS, a retirement system where you didn’t pay Social Security taxes, you’ll be subject to the windfall elimination provision. The WEP will reduce your Social Security benefit if you have fewer than 30 years of substantial earnings under Social Security.