Q. As a FERS employee, when I turn 56, will my special retirement supplement be reduced based on my retirement income? Or is that only reduced based on if you work somewhere else earning wages? My understanding is that, when I retire at 56 I will get the following for my retirement: 1. Years of service percentage based on salary — for example, 30 years of service at a $100,000 salary will get $30,000 a year. 2. Annuity from Thrift Savings Plan if I decide to take annuity. 3. Special retirement supplement until I turn 62. Do the above three…
Browsing: annuity reduction
Q. I am retiring under CSRS in February. With my three years, 11 months and 10 days in the Navy, plus sick leave, I will have 42 years and eight months CSRS and be 62 years and five months old. On advice of our HR office, I never paid my military deposit back since I was planning on retiring federal and only had 31 Social Security credits. I have looked in the Office of Personnel Management site and the Fedweek CSRS retirement manual and neither says it will not reduce my annuity if I don’t pay the deposit. Can you help?
Q. I’m under CSRS Offset, but I have 36 years of substantial earnings under Social Security. Will either pension be reduced?
Q. I need information as to how Medicare Part B premiums are paid when the following applies, per CMS.HHS: “If you are not set up on your spouse’s Social Security number with a B or D following the Medicare number.” My wife’s Medicare Part B card has a B following the Medicare number. When my wife retires from the Postal Service with an immediate CSRS annuity, her Social Security benefit, which is now used to pay the Part B premiums, will be greatly reduced due to the windfall elimination provision. If she cannot have the premiums deducted from her Social Security benefit, is there some other…
Q. If I take disability retirement or my pension, would I be able to return to work with the Postal Service? I have 30 years as a letter carrier at age 57.
Q. I am eligible to retire under FERS now that I am 56 years old and have 28 years of service with the Veterans Affairs Department. If I were to retire under FERS disability instead, would I still receive the special retirement supplement that accompanies regular FERS retirement? Also, would my five years of military service be taken into account for FERS disability if I have paid my military deposit into the system?
Q. I served in the Air Force in active duty for almost five years before moving to CSRS. By the time I retire, I will have 40+ years under CSRS without including my active-duty military time (It would be 45+ years total federal service if I decide to by back the time). Will I be penalized if I do not buy back my five yrs active-duty time. In other words, will my retirement annuity be reduced?
Q. I’m a retired federal employee (CSRS). My wife and I both have federal health insurance. My wife is still working (self-employed) and will be turning 65 this year. She went to sign up for Medicare and was told she had to also sign up for Medicare Part B or be penalized even though we have health insurance through Blue Cross/Blue Shield. Social Security Administration said if I was still actively federally employed, she would not be required to take Part B and there would be no penalty. Another person she spoke with from SSA said she is not required…
Q. I have been employed with the Postal Service since 1985 with three years of prior service in the D.C. government under CSRS. After 30 years of service, I received a notification informing me that the Postal Service was supposed to change my retirement plan to FERS in 1987 but did not. Now I have been forced to elect either CSRS Offset or FERS. I selected CSRS Offset, which added one year to my retirement date. If I retire at age 56, will my annuity still be the same, or do I have to work until 62 to receive full…
Q. I am in CSRS looking at any deposits owed. I worked in the legislative branch from Feb. 2, 1978, to Jan. 2, 1983, and paid FICA only. At the time I left the legislative branch, I became Ramspect Act eligible and was able to work noncompetitively for the Defense Department. Will I owe a deposit for my legislative service from Feb. 2, 1978, to Jan. 2, 1983, under CSRS?