Q. I retired from CSRS with 30 years (U.S. Bureau of Mines closure). I started getting my government retirement the day after retirement because of forced retirement. I continued work in the private sector and, at age 66, started getting Social Security in October 2011. I had 26 years paid into Social Security and was hit with the windfall elimination provision. I was never told I could pay extra years into Social Security for some of the years that I was under CSRS until someone at the Social Security office in Pueblo, Colo., told me that. I do not know…
Browsing: taxes
Q. I plan to retire at age minimum retirement age of 56, with 34 years of service and received an estimate of FERS annuity plus special retirement supplement. The estimate only shows deductions for federal tax and maximum survivor benefit election from the base FERS annuity but no deductions from the special retirement supplement. Can you verify that the special retirement supplement is not federally taxed?
Q. I made a lump-sum military FERS pension buyback as a new Defense Department civilian employee. Is there any tax filing implication or deduction for this?
Q. I have a government pension and will be retiring in the next couple of years. I understand that my pension will be subject to federal and state taxes. I also have 20-21 years full time under Social Security (an additional nine years part time under social Security but under the substantial earnings amount). My Social Security will only be approximately $6,000 per year. Would the Social Security be subject to federal and state taxes?
Q. I am a CSRS retiree. I worked 40 years and nine months while deducting retirement contributions from each check. I have been retired for seven years. The total contributions were near $84,000. Is all this amount used up starting with my first retirement check, or is it reduced gradually over years at a given rate? When I die, after, say, 10 years of retirement, will there be any money available to my survivors?
Q. I was injured on the job while working for the federal government and spent 26 years as an annuitant under the Office of Workers’ Compensation Programs. Recently, I was terminated from OWCP as being recovered from my work-related injury and retired under CSRS as a disability retiree. When I received my first retirement check, I noticed that federal taxes had been deducted. Is this correct? I had thought that disability retirement annuities were not taxable. Will these tax deductions end at some time in the future, perhaps at my minimum retirement age? I will be 68 years old in…
Q. I retired from the FAA in 2003 with 21 years of service, and I receive 50 percent of my base pay. I also am qualified for Social Security. I bought back my military service. I know my Social Security benefits will be lowered as I receive a pension from OPM. I am planning on taking my Social Security benefits when I turn 62. Will I still receive my 50 percent pension from OPM?
Q. I retired in 2010 with 40 years of service, including four years of military service (1972-1976) that I did not pay back. While I am 62 and don’t qualify for Social Security yet, I recently received a notice that I now qualify for survivor benefits. Will this affect my CSRS annuity? Second, is the one-time Catch 62 check at age 62 in law or process? My concern is that if it is process, then it could easily be changed because of the budget situation to check every year after age 62 or when you start to draw Social Security…
Q. My mother retired from the Social Security Administration under CSRS in August 2009 and passed away in September 2012. Based on her W-2, her employee contribution amounted to $55,000. In September 2012, I submitted SF 2800 for any unused employee contribution. The final lump sum was less $800, but based on her contribution, I thought the amount was low. Under CSRS, is the employee’s contribution exhausted first?
Q. How much leave will my CSRS wife be taxed on $15,000 of cashed-in leave? I am trying to project 2013 estimated tax payments. My wife retired and gets a Voluntary Separation Incentive Pay of $25,000 and — can you confirm? — about $7,000 will be withheld in tax.