Q. Would a person who received a CSRS refund after 20 years of service at the U.S. Postal Service be subject to the Windfall Elimination Provision at age 62?
Browsing: CSRS Offset
Q. Is the offset to my CSRS Offset retirement benefit calculated before the windfall elimination provision is applied to my Social Security annuity? That would seem to mean that my overall monies received would be reduced at age 62. When will I know what my new CSRS annuity will be with the offset? I turn 62 in December.
Q. I am 63 and have 28 years of paying Social Security under CSRS Offset, and 13 years of CSRS. For CSRS Offset, they show a reduction of Social Security to almost 50 percent due to the windfall; yet with the Offset, it appears that I still will be getting the same total retirement amount (approximately 80 percent of High-3) between Social Security and windfall. If I kept working under Social Security until I hit 30 years, will the CSRS annuity be reduced based on the increased Social Security so its stays within the approximate 80 percent of my High-3, or will it increase based on the…
Q. I retired two years ago from the U.S. Postal Service. I retired with 33 years under my belt — service as civil service offset. I just turned 62 and was surprised when my annuity dropped $900. I didn’t think this would happen until I applied for Social Security. Should I apply for my deceased husband’s benefit, which is less than mine, take my greater benefit, or take less of an amount now and let my Social Security grow until I’m 66?
As a result of all the early retirement offers and buyouts, a lot of employees leave government for what they hope will be greener pastures. Whatever their motivation, quite a few of them think about returning to work for the federal government. If you are one of them, a potential impediment to your coming back to work is this. If you received a buyout and return to work before the end of five years, with rare exception, the law requires that you repay the entire amount no later than the date on which you report for duty. If you didn’t…
Q. I retired under CSRS at the age of 62, with 40 years of service (military included) and I paid back my military Social Security. I am currently 65 with 38 minimum quarters of Social Security. Would it benefit me to work two additional quarters to draw Social Security, or would the WEP eliminate any Social Security to which I would be entitled?
Did you work under either Civil Service Retirement System or Federal Employees Retirement System, leave government, withdraw your retirement contributions, and then come back to work for the government? If you did, when you retire your annuity will be reduced unless you redeposit that money, plus accrued interest. Should you make that redeposit or not? I’ll help you find the answer that fits your situation by explaining who is eligible for an actuarial reduction and how to find out whether that reduction is a better deal than making a redeposit. First, let me spell out the redeposit rules. CSRS and…
Q. I am currently covered by CSRS, I plan on working until 67. I know at 66 I can receive social security based on jobs held prior to government employment and second jobs worked while with the government. Does the offset apply only once I retire or once I claim SS benefits? A friend of mine told me he was collecting full social security while still working for the government. He was 68 at the time. Once he retired, he told me the offset applied. Is this correct?
Q. My husband is retiring with the CSRS retirement program. We have agreed that he should elect a survivor benefit for me. If he dies, am I entitled to the survivor benefits without reducing my Social Security?