Browsing: COLA

CSRS offset and Social Security

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Q. As a CSRS offset employee, I am aware that the CSRS benefit will be reduced at age 62. If I choose not to claim Social Security benefits at age 62 and wait until my full retirement age of 66, will my SS benefit increase as it would under standard SS practices?

VERA and COLA

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Q. How does the Voluntary Early Retirement Authority work for cost-of-living adjustments and Social Security? Hypothetical situation: Person retires at age 52 years old with 30 years as a FERS civilian in 2014. S/he does not get any COLAs until age 62 in 2024. If this person’s annuity is $2,000 a month, then their annuity remains the same until age 62. Would his/her annuity be readjusted with COLAs to the year 2024? If the person’s minimum retirement age is 56 in 2018, would COLAs kick in and his annuity be readjusted?

Social Security

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Q. My husband is a retired federal employee receiving a CSRS pension. I have been paying Social Security taxes based on my own employment earnings since before we were married. 1. As the wife of a federal employee who is receiving a federal pension, will I receive my full Social Security benefit when I reach retirement age? 2. If I outlive my husband, how much of his federal pension would I receive, and would I also continue to receive my full Social Security? 3. Will he receive Social Security benefits based on employment earnings in nonfederal jobs he held prior…

Best retirement date

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Q. I have read a number of articles noting the best dates to retire in 2014. For example, I have seen March 22 and Dec. 28. As a GS-13 FERS employee who will have about 32 years of service at age 61 as of Dec. 28, does it really make that much of a difference to wait until Dec. 28 versus March 22 (at which time I will already be 60) in terms of my FERS annuity? I have about 1,800 hours of sick leave, have been maximizing my Thrift Savings Plan contribution most of my career, and I was…

Disability retirement and SRS

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Q. I retired under the FERS disability provisions 16 years ago. I want to find out what portion of my monthly retirement benefit represents the special retirement supplement portion. At the time of my retirement, I had 16 years of creditable service. I am receiving about $1,900 per month, and I believe my calculation at age 62 would be times 1.1 percent. I will not be eligible for Social Security until age 62 and one month. Will I lose the supplement for one month?

Locality pay

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Q. If a civil servant moves after retirement into an area with a higher locality pay (i.e., the rest of U.S. to the Boston area), do their retirement benefits adjust to meet the need of living in the new area?

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