Q. I have 25 years of CSRS service. From 1971 until Aug. 15, 1991, I worked for the post office, then I quit and took out my retirement, $20,000 at the time. I went back to work at the VA in 2008. I owe $64,000 on my deposit. I was in FERS; then FERCCA helped me get in the offset. When I retire, I will be 62. Am I entitled to an actuarial reduction? How does that work?
A. Because you took a refund of your retirement contributions after Feb. 28, 1991, you will receive credit for that service in determining your eligibility to retire; however, it won’t be used in the computation of your annuity unless you redeposit the refunded amount plus accrued interest. You would have been eligible for an actuarial reduction in your annuity only if you had received that refund before March 1, 1991.