Q: I have 33 years under the Civil Service Retirement System. Prior to that, I was with a private company and completed 32 quarters under Social Security. I will be 70 years old in June. My separation notice under the Base Closure and Realignment Act will be issued in June, and I will have to leave my job by Sept. 15. What are my best options to qualify for Social Security (40 quarters)? I understand there will be offset payments. Should I continue work two more years, finding another job after Sept. 15, and forget Social Security? A: You can…
Browsing: SOCIAL SECURITY
Q: I’m a disabled federal retiree drawing a federal retirement. I paid into Social Security while on National Guard status for 30 years. I’m currently working and paying into Social Security and will have enough quarters to draw Social Security payments at age 62. I understand there is an offset that will apply to my retirement. I have received a Social Security statement every year; my past statement shows I will draw around $750 at age 62. Is this my retirement amount after the offset, or do I need to reduce this amount by the offset amount? If that’s the…
Q: My husband was federal technician and served in the Air National Guard. The military discharged him because of health reasons. So he lost his federal technician job. He now receives Civil Service Retirement System disability benefits. He applied for Social Security disability. Social Security counts his CSRS disability as a public disability, so his benefit is offset and his payment is reduced to $31.00 a month. Now that he is over age 55, can he change his CSRS retirement to a CSRS annuity or discontinued service retirement? Social Security stated that if he is receiving a CSRS annuity or…
Q: What percentage of my benefits are lost if I miss paying into Social Security for two years? A: Unknown and possibly unknowable. Social Security benefits are calculated like federal retirement benefits. They are based on the total number of years of Social Security-covered employment, not to exceed 35. The dollar amount of your actual earnings during those years, stated in constant dollars, is then used to determine your average indexed monthly earnings, or AIME, which is then plugged into the Social Security formula. The Social Security Administration has a number of benefits calculators here that you can plug your own…
Q: After reading all the horror stories about the windfall elimination provision and Social Security demanding payback of erroneous payments, I’m writing to verify my Civil Service Retirement System Offset and WEP reductions. I have 22 years of CSRS service, from 1973 to 1995, put in 13-plus years of nonfederal work, and then was re-employed with the federal government as a CSRS Offset employee in 2008. I plan to retire at 62 with 27 years, 8 months of federal service, with about five years of that under CSRS offset. My personnel office says that I am not subject to the…
Q: I am 65 years old and will be 66 in January. I am contemplating retirement from the federal government. I worked in the private sector for more than 20 years and switched over to the government in 1985. I am under the Civil Service Retirement system. I was informed by a co-worker that my Social Security benefits, which I am counting on heavily to support my family, will be reduced substantially because I am under CSRS. Is this true? A: Your Social Security benefit would only be affected if you have fewer than 30 years of Social Security-covered employment.…
Q: I retired at age 57 as a Civil Service Retirement System Offset employee. I’ve enjoyed a private industry position but have learned that at age 62, my CSRS annuity will be reduced. I can retire through the Social Security Administration to recoup the reduced amount, but will be subject to an earnings limit which wipes out the entire SSA pension. Am I missing something? Are offset retirees subject to the SSA earnings limits? A: Yes, they are. The earnings test will reduce your Social Security benefit by $1 for every $2 you earn above the limit, which is $14,160…
Q: My husband has been working for the U.S. Postal Service for 26 years. He is 53 years old. He is entitled to Federal Employees Retirement System benefits at age 56, but he wants to retire now due to health issues. Can he do that? A: The only way he could retire before reaching his minimum retirement age would be if he was approved for disability retirement. To find out if he is eligible, he’d have to file for disability retirement and, at the same time, file for Social Security disability benefits. His personnel office can help him do that.
Q: I have been working for the government for the past seven years under the Federal Employees Retirement System and expect to retire in 13 years at age 67. Prior to my government service, I worked in the private sector and paid into the Social Security system for 35 years. Am I to assume that I will be receiving both a full FERS and Social Security benefit when I retire? A: Yes. You will receive your FERS annuity based on your years of FERS-covered employment and a Social Security benefit based on all your Social Security-covered employment, not just that under…
Q: My husband passed away Jan. 25, 2009, and I’m receiving his Social Security benefits, as well as benefits from the U.S. Postal Service. If I remarry, will I lose the benefits from the USPS? I know I will still collect his Social Security. A: Unless you were to remarry before age 55, your survivor annuity wouldn’t be affected. If you did remarry before age 55, that annuity would be suspended. It could only be restarted is the marriage were ended by annulment, divorce or the death of the new spouse.