Q. I’m a current CSRS GS employee with a total of 36 years of service that includes 4 years active-duty military (credit is paid back). I plan to work beyond the 41 years, 11 months of service. (80 percent retirement benefit) I understand that payroll will take employee 7 percent retirement contributions. What happens to that 7 percent contribution money when I retire? Will the 4 years of military service have any negative impact on the 7 percent employee contributions refund after reaching 41 years, 11 months of service?
A. You’ll be offered a refund of your excess retirement contributions, plus accrued interest, with the option of purchasing additional annuity that isn’t subject to the 80 percent limit.