Q. I am retired from the FBI. I have 22 years covered under CSRS and 11 under FERS. Because my FERS supplement ends in August when I turn 62, I plan to apply for Social Security, who has advised my monthly benefit payment will be 1120.00. My FERS supplement is approx 500.00 per month. My question is: When I begin receiving social security benefits in August, will I receive the entire 1120.00 or will it be reduced?
A. It will be affected by the windfall elimination provision because you are receiving part of your annuity from CSRS, a retirement system where you didn’t pay Social Security taxes. The WEP will reduce your Social Security benefit if you have fewer than 30 years of substantial earnings under Social Security.