Q: I retired under CSRS in 2008 at age 59 with 35 years of service. I had 23 quarters of Social Security credits from before I started CSRS work. I have since earned 12 quarters under Social Security, making a total of 35 credits. I am now 62 1/2. I plan on getting my other five quarters and applying for Social Security at age 66. Will my CSRS annuity or my Social Security amount be reduced at age 66? Also, My wife will retire in 2013 at 62 with 30 years of substantial Social Security earnings and receive an annuity…
Browsing: Creditable service: CSRS
Q: I am under CSRS and plan to retire at the end of 2012. I have a WGI due Dec. 30, 2012. If I retire Dec. 30 as a best date, will my annual leave payout include the WGI increase? Do you think Jan. 3, 2013, would add any benefit? A: Since your high-3 will be based on the average of your highest consecutive 36 months of pay, it’s unlikely that the difference in your annuity of retiring on the day of, the day after or up to January 3 would make any perceptible difference in your basic annuity. However,…
Q: I am retiring under CSRS on Dec. 31. I will be 66 at retirement. I have not yet claimed Social Security. I have 35 years of federal service. I understand that Social Security will offset my federal monthly pension. If for example, my Social Security is $500 a month and my federal pension is $4,000, how do I figure out how much it will be reduced? Also, is the offset taken even if I don’t claim Social Security? I receive a survivor benefit from my deceased husband. Will my husband’s survivor benefit affect my monthly pension. Also, how will…
Q: I recently heard the post office would like to break the collective bargaining contracts that had been ratified by union members and/or change the benefits as new contract talks are starting between them and the NALC. I have 30-plus years as a letter carrier plus three years in the Army and a year of sick leave. I will turn 60 in December. My plan was to work till the end of May 2014, but if they change my retirement benefits I’ll go now rather then risk losing what I know that I’ll get rather than work longer and get…
Q: I’m a CSRS Offset employee. On my most recent LES, my cumulative retirement shows 4,547.67. I believed that cumulative meant for the present year and so did not worry. However, my co-worker and I compared LESs (I was showing her that I contribute both to Social Security and CSRS retirement) and in doing this noticed that her cumulative retirement (CSRS) is close to $40,000. She then explained that it is cumulative overall (not just for this year to date). My service computation date is March 13, 1984. I was originally hired in 1979, traveled with my spouse but always…
Q: I am an employee under the Civil Service Retirement System Offset program, and I plan on retiring at age 64. I know my annuity will be reduced for the period of time I was an offset employee. I have dealt with the local Social Security Administration office and I am concerned; they had no idea what the offset is. Does the Office of Personnel Management deal with SSA experts for the offset? A: OPM and the Social Security Administration have a file-matching system that allows OPM to accurately reduce a CSRS Offset annuity by the amount of Social Security…
Q: I read that the best day to retire under the Civil Service Retirement System at the end of leave year 2013 is Dec. 28, which confuses me because we’re always told to retire the end of the month or within the first three days of the month. I know the Dec. 28 is the end of a pay period, but wouldn’t it work out just as well if I retired on Jan. 2 or 3 since I’d get paid for the holiday of Jan. 1? A: You can retire on any day that suits you. However, keep these facts…
Q: Where do I send my form for buying back my military time, and how do I find out how much it will cost? A: To make a deposit for any years of active duty service, you’ll need to complete a copy of Form RI-20-97, Estimated Earnings During Military Service, and mail it to the military finance center for your branch of service along with a copy of your DD 214, Report of Transfer or Discharge. When you get that information, take it to your payroll office along with a copy of your DD 214 and a Standard Form 2803…
Q: Where can I find my amount of credible service, or time that counts toward my retirement? A: Your service computation date (SCD) will be shown on your leave and earnings statement. It reflects all your federal service that is creditable. Because some service is never creditable, and some is creditable only with the payment of a deposit or redeposit of retirement contributions, you’ll have to look in your official personnel folder (OFP) and talk with someone in your personnel office if any of your time in service isn’t included in your SCD.
Q: As of June 21 I completed 44 years of government service. All my retirement contributions are in CSRS. Tentatively, I am planning on retiring July 3, 2012, unless circumstances change, then I would need to revise my retirement date accordingly. Would it be to my benefit to work another six months in 2012, or retire at the end of 2011? A: While I can’t offer you advice, I can provide you with some information that may help you make a decision. When you accumulated 41 years and 11 months of creditable service, you reached the maximum allowable earned annuity…