Browsing: Creditable service: CSRS

As a result of all the early retirement offers and buyouts, a lot of employees leave government for what they hope will be greener pastures. Whatever their motivation, quite a few of them think about returning to work for the federal government. If you are one of them, a potential impediment to your coming back to work is this. If you received a buyout and return to work before the end of five years, with rare exception, the law requires that you repay the entire amount no later than the date on which you report for duty. If you didn’t…

Q. I retired under CSRS at the age of 62, with 40 years of service (military included) and I paid back my military Social Security. I am currently 65 with 38 minimum quarters of Social Security. Would it benefit me to work two additional quarters to draw Social Security, or would the WEP eliminate any Social Security to which I would be entitled?

Did you work under either Civil Service Retirement System or Federal Employees Retirement System, leave government, withdraw your retirement contributions, and then come back to work for the government? If you did, when you retire your annuity will be reduced unless you redeposit that money, plus accrued interest. Should you make that redeposit or not? I’ll help you find the answer that fits your situation by explaining who is eligible for an actuarial reduction and how to find out whether that reduction is a better deal than making a redeposit. First, let me spell out the redeposit rules. CSRS and…

If you have spent time in the military, you may be entitled to credit for that time in the computation of your Civil Service Retirement System or Federal Employee Retirement System annuity. To be eligible, you must have done one of the following: Served on active duty in the armed forces, which are defined as the Army, Navy, Air Force, Marine Corps or Coast Guard and, after June 30, 1960, in the Commissioned Corps of the Public Health Service or, after June 30, 1961, in the Commissioned Corps of the National Oceanographic and Atmospheric Administration; Served as a cadet in…

Q. I am currently overseas on an extended family vacation. I’ll be turning 62 years old at the end of this month. I left the federal service as a law enforcement officer in 2012 with 6 ½ years of creditable service. I did not receive a refund of my retirement contributions when I quit from my federal job. Can you give me an approximate annuity based on my service? What do I have to do to apply for it?

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