Q. I am a CSRS employee who will be turning 55 in January. I will have 32 years of service. If I retire during the summer of this year, how much will I be penalized?
Browsing: CSRS annuity computation
Q. I will turn 65 this month but won’t retire until mid-2014. I have had Blue Cross/Blue Shield standard option (code 104) since the 1980s. I have been (and still am) a federal employee for over 31 years. I have CSRS for retirement. I started federal service in 1981 before FERS and kept CSRS. Thus, I will not receive Social Security for my retirement. Otherwise, I do not have 40 quarters for Social Security so I would not otherwise qualify based on that to receive Medicare Part A for free. However, I pay a $62.99 “Medicare tax” each pay period…
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. If I retired with 34 years of CSRS benefits and have now earned 40 quarters Social Security, will I be able to draw Social Security benefits?
Q. I worked for the U.S. Postal Service under CSRS for 17 years and resigned in 1988 to work in private industry. I left my contributions in the retirement fund. Several years later, I went to work for the Department of Veterans Affairs as a FERS employee. Can my time with USPS be used toward my retirement with the Department of Veterans Affairs?
Q. I am an active-duty member of the Air Force with five years of service. I am planning to stay in for five more years to transfer my post-9/11 education benefits to my kids. I am looking to get out of active service at the 10-year mark and would like to remain working for the federal government. How would my years of service count toward retirement if I began to work for the Veterans Administration versus switching service branches (i.e. public health services corps)?
Q. Are there new rules as to how long a civil service employee can be retired and return to work as a federal employee? I was always told five years. Also, do CSRS employees have to work 42 years to get 80 percent of their salary?
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 have 23 years of covered service under CSRS: 16 years are in a law enforcement officer covered position, and seven in a non-LEO covered position. What is the formula for calculating my retirement benefit?
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…