Q. I am a former federal CSRS employee who lost employment when the Philadelphia Naval Shipyard was closed in 1995. I had about 15 years of service and left my contributions in the system. I was born in July 1956 and am 56. When can I apply for a pension, and what can I expect? Would I take a deferred pension? Also, I have met my 40 quarters for Social Security and have been employed for about 17 years with the School District of Philadelphia. I am thinking about retiring when I am 62 but would like to know my…
Browsing: CSRS annuity computation
Q. I retired as a GS-14, CSRS employee, at 30 years. If I take a GS-15 position, does the retirement stop, or is the pay just offset by the amount of the annuity? Do you pay into the CSRS retirement fund or FERS, or can one defer? Does health insurance continue from the retirement or from the new payroll?
Q. I’ve been in CSRS since Feb. 10, 1975, and I turned 65 in January. 1) Which day, in late leave year 2015, would be the best day to retire? 2) What should be my schedule for submitting retirement documents?
Q. Where can someone obtain information on the requirements for the 41 years, 11 months CSRS retirement in Office of Personnel Management?
Q. What are the steps involved in processing redetermined annuities?
Q. Could you tell me which law created CSRS Offset retirement? I’ve heard it was 5 USC 84, which created FERS. If that is the applicable law, could you indicate which chapter and verse pertains to Offset?
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. I am planning to retire this summer and received my CSRS retirement estimate report. Since I quit the government and withdrew my retirement ($5,000) in 1984, and never paid it back, I received a redeposit report which shows how much I would have to pay back now to have an unreduced annuity. I don’t intend to pay it back because it is a huge chunk of change (and the monthly reduction is minimal in comparison). However, at the bottom of this report, it says, “Pre-03/01/1991 Redeposit Service cases: If redeposit is NOT made or the Alternative Form of Annuity…
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.
Q. Since we pay taxes on our CSRS contributions, how do we avoid paying taxes on this money when we retire? I have about $80,000 so far.