Q: I am employed by the Defense Department under the Civil Service Retirement System. My service computation date is Dec. 17, 1977, and I will turn 62 on Nov. 16. Prior to entering civil service, I earned enough quarters to qualify for Social Security. I have not selected a retirement date, but I am considering Dec. 31 of this year or January 2011 to receive a payout from the National Security Personnel System. If I retire Dec. 31, I will be reimbursed for all of my annual leave, but after that reimbursement I would be limited to the maximum amount…
Browsing: CSRS annuity computation
Q: I am a Vietnam vet and plan to apply for disability with the Veterans Affairs Department based on one of the illnesses caused by Agent Orange. I was in the Army for two years. I also plan to retire under the Civil Service Retirement System with 37 years of service in about 10 months. I am also eligible for a small Social Security check. If VA grants my service-related disability will my CSRS or Social Security check be reduced by the amount of the VA disability payment? A: No, neither payment would be reduced.
Q: I understand that my husband’s CSRS Offset annuity will be offset by hi eligibility to Social Security benefits at age 62. However, he plans on continuing to work after this and will most likely not be able to receive Social Security benefits under the annual earnings test. Will his CSRS Offset annuity still be offset if he’s not receiving Social Security benefits due to the annual earnings test provisions? A: When he reaches age 62 and is eligible for a Social Security benefit, his CSRS annuity will be reduced by the amount of Social Security benefit he earned while…
Q: Can a Civil Service Retirement System rehired annuitant be hired for an Active Guard/Reserve (AGR) position? I am eligible for CSRS retirement next month and my military unit has an opening that is AGR, Title 32 active-duty military. Can I draw CSRS retirement and work full-time in Title 32 status? A: Accepting an active-duty position in the armed forces should have no effect on your CSRS annuity. Whether your CSRS annuity would have any effect on your military pay is something you’ll have to explore with your branch of service. My guess is that it wouldn’t; however, Title 32…
Q: I was employed by the Department of the Army in 1968 and retired with a disability annuity in 1974. I have never been restored to full capacity and I still receive my annuity of approximately $1,060 per month. I have worked in a part-time capacity at various jobs over the years and have earned 20 Social Security points. In December 2010, I will turn 62, and I understand that my annuity will be recalculated. I do not know my three highest years of earnings and do not fully understand how the annuity will be recalculated. I have looked at…
Q. I understand that my stateside locality pay will not count towards my retirement calculation for time that I serve in Naples, Italy. I am about to start a 3-year tour there, and when I return to the U.S., plan to retire. How will my annuity be calculated — based on my “high-3” from my last three stateside years, or does the more current base salary in Naples have something added to it as well for annuity calculation purposes? A. Your annuity will be based on your highest three consecutive years of average base pay, regardless of when that occurs…
Q. Eight years ago, I retired under CSRS with 21 years of service as an air traffic controller. Prior to my controller years, I earned three years of Social Security credits and served seven years in the military. Since retiring I have worked full time at a good salary and my Social Security statement says I have earned enough credits to qualify for benefits, but I think I’m subject to the Windfall Elimination Provision. Assuming that is true, if I don’t elect to receive Social Security at age 62 and wait until my full retirement age of 66 to receive…
Q. I am eligible for an immediate retirement right now, and have been for some time. If I was to submit my forms now and give two weeks notice, would I lose anything? I assume that eventually the annuity would catch up — regular payments plus retroactive payments earned while the paperwork was in the works. However, I haven’t heard of anyone doing that — everyone seems to pick a date well in the future, long after the initial form submission. A. While it is the most prudent way to assure a trouble-free transition to retirement, there isn’t any requirement…
Q. I recently retired from the Postal Service under CSRS Offset and the Air Force Reserve. Upon retirement I had my postal retirement decreased due to the amount I was receiving from the military. This was done even with a deduction of pay going to my ex-wife. She is getting part of my military and postal retirement (plus $500). What are the rules that apply to these deductions? I also put in for early Social Security and that amount was also decreased as a windfall profit (whatever that means). What are the rules on that decrease? How can I change…
Q. What form would I use to get a refund or a CSRS overpayment. I am retiring as a LEO with 36 1/2 years service, 20 of which are under a covered position. And who do I send it to? A. Because you will have reached the 80 percent limit on your earned CSRS annuity, when your application for retirement is processed, OPM will send you a statement showing the amount of your excess contributions, and they will offer you a choice. You can either accept the excess contributions or use them to buy additional annuity, which is not subject…