Q. When is the special retirement supplement payable to a retiree and when is it not?
A. If you retire at age 60 with 20 years of service or at your minimum retirement age (MRA) with 30, the special retirement supplement (SRS) is payable immediately. If you retire under an early retirement authority, it’s payable at your MRA.
Three things to keep in mind: The SRS is never payable if you retire under the MRA+10 provision or leave government and apply for a deferred annuity. The SRS won’t be added to an interim annuity, only a final annuity; however, the payment will be retroactive. If you are receiving an income from wages or self-employment that exceeds the annual Social Security earnings limit, your SRS will be reduced or terminated.
4 Comments
I retired under Vera and receive a FERS annuity. I will be eligible for the SRS in May of 2019 when i turn 56 and reach the MRA. Does OPM process the SRS action before, during, or after the month of entitlement? In other words, will the SRS show up when it should, or will i have to wait months on end before they get around to it?
Like salaries, annuity payments are made after they are earned, which means that you would be entitled to have the SRS added to your annuity payment in June. I can’t predict whether that will happen.
Can I return to employment at the USPS on a part time basis, even though I retired 9 years ago under CSRS?
I only want part time work (16-20 hrs a week)……
Yes, you can, if they’ll hire you. Just be aware that as a rule your salary would be reduced by the amount of your annuity. As a part-time worker, you might end up earning nothing.