Q. I will retire Sept. 30, and I saw an article that you could sell your retirement if you work for the federal side, but what is the advantage of this? I’m wondering if receiving two paychecks is better than one. When you retire from federal work, would your retirement check increase because of selling your military time?
Browsing: CSRS annuity computation
Q. I will have 34 years of federal service in May 2016. I want to retire at the end of 2016. I’m in the offset retirement system. I will have only have 29 years in the Social Security system. Should I work until I have 30 or more years in Social Security? How will it effect my CSRS retirement when I’m eligible for Social Security?
Q. I retired under the CSRS with approximately 33 years of government service, and I qualified for Social Security under other jobs. How will my CSRS monthly pension be affected when I begin to qualify for Social Security? A. Qualifying for a Social Security benefit would have no affect on your CSRS annuity. On the other hand, because you’d be receiving an annuity from CSRS — a retirement system where you didn’t pay Social Security taxes — your Social Security benefit would be subject to the windfall elimination provision. WEP reduces the Social Security benefit of anyone like you who has fewer…
Q. I retired at the age of 45 and began receiving a CSRS annuity. I went to work for the state of Virginia and retired at the age of 62 and 6 months and began receiving Social Security. My CSRS annuity was offset once I became eligible to receive Social Security. I’ll be 66 this September, I’m still working and was considering re-employment with the federal government. Will my CSRS annuity or Social Security be affected if I become employed with the federal government?
Q. I am a a CSRS employee. I have a year and six months until I am eligible for retirement. I am an only child and need to help with my aging mother. Do I have any options as far as leaving earlier?
If you are covered by Civil Service Retirement System Offset, you are part of the smallest and least understood group of federal employees. You were hired under CSRS, had at least five years of service, left government, had a break in service of more than one year and returned after Dec. 31, 1983. When you did, you were given a choice: be covered by Federal Employees Retirement System, or by CSRS and Social Security. You chose the latter. Because you are covered by both CSRS and Social Security, you are eligible for benefits under both. However, you’ll receive the same…
Q. My wife worked for the Defense Department for 16 years and was let go as a result of a mission move. She was under the CSRS retirement system, and we never pulled the money out. She has worked in the private sector for 13 years and doesn’t expect to return to government employment. When she reaches 62 she plans to take a deferred retirement. Will her Social Security benefits be reduced based on her receiving a CSRS retirement annuity?
Q. I had 16 years of CSRS from 1980-1996. I left federal service in 1996 and took my money out. The amount to pay it back with interest is too much. I then returned to federal service in 2010 and have become part of CSRS Offset. I plan to work for 10 more years, which will give me 15 years of CSRS Offset. How much will my annuity be reduced by not paying back the 16 years of CSRS I had?
Q. I worked for the U.S. Postal Service for one month in 1974 and then left to join the Navy. After serving four years in the Navy, I applied for reinstatement to the Postal Service and was rehired in February 1980 under CSRS. I left the Postal Service in September 1984 and collected my retirement earnings. I was rehired by the Postal Service in November 1986 and placed under FERS. I have bought back my four years of military time. I would like to make a redeposit for the CSRS period of four years and seven months. What terms and/or interest rates…
Q. I would like to retire this year. I am under CSRS and will have 38 years of service in July 2015. I will be 56 in November 2015. I would like to retire at the end of the year — Dec. 31 or Jan. 1. Will my lump-sum payment for my annual leave be taxed for 2015 or 2016? Also, I noticed that the date(s) I would like to retire are in the middle of a pay period. Would this be a problem?