Q. Is the offset amount determined by OPM after consulting with SSA at age 62, even if you are still working? I mean, if you work until age 70 and collect SS at age 66 or 70, is the offset continually adjusted (in my case increased as my salary goes up, and lower early years, not part of CSRS offset are replaced with CSRS Offset years)?
How would collecting at 66 versus 70 affect only the CSRS Offset computation?
I am wondering if the computation is set at age 62 as the Windfall Elimination Provision computation seems to be?
A. OPM will apply the offset at age 62 or the date on which you retire, whichever is later.
4 Comments
I am a federal employee under CSRS-Offset. Since I paid into SS I plan to draw my SS at age 66 but I will continue to work under CSRS-offset until age 70. Since I will be receiving SS will my offset still continue to increase while I an still working?
Yes.
The offset is the difference in your SS with and without the CSRS service contibutions.
So the offset will be calculated on the SS benefits you WOULD have earned if you had not taken SS at 66?
To find out how the offset is calculated, go to https://www.opm.gov/retirement-services/publications-forms/csrsfers-handbook/c050.pdf and scroll to Section 50A3.1-4, subsection C.