Browsing: substantial earnings

Q. I’m a 62-year-old FERS retiree who is receiving a Social Security benefit. I’m thinking about taking a job in the private sector. How will that affect my Social Security benefit? A. If you are under full retirement age, your Social Security benefit will be reduced by $1 for every $2 in earnings that exceed the annual earnings limit, which is $17,640 in 2019. In the year when you reach your full retirement age, your benefit will be reduce by $1 for every $3 you earn over a different limit, which is $46,920 in 2019. Beginning in the month you…

Q. My wife worked for the Defense Department for 16 years and was let go as a result of a mission move. She was under the CSRS retirement system, and we never pulled the money out. She has worked in the private sector for 13 years and doesn’t expect to return to government employment. When she reaches 62 she plans to take a deferred retirement. Will her Social Security benefits be reduced based on her receiving a CSRS retirement annuity?

Q. I am 66 years old, which is my full retirement age. I worked from 1966 to 1970 for the federal government. I was in CSRS. My credit was three years and 11 months. I stopped working in 1970 to raise a family. I withdrew the money I had paid into CSRS. Between 1970 and 2001, I held a few non-government, small, part-time or intermittent jobs in which I paid into FICA. I returned to work for the Army in December 2001. I was automatically put into FERS, so began paying into FICA and FERS. I have paid back with…

Q. I have been a FERS employee since 1985 and this year will have 28 years of Social Security substantial earnings. I was born in the U.K., a U.K. citizen, and worked there in the 1970s before marrying and emigrating to the U.S. with my U.S. Navy husband. I am now eligible to receive a U.K. state pension, 10 years of which are based on employment. I am now told that my U.K. pension is subject to the windfall elimination provision, as those 10 years are not covered by Social Security. This seems grossly unfair as, at the time I…

Q. I am retired with 30 years of service. I also have 22 years of substantial earnings in Social Security. I am working as a consultant and plan to until I get to 30 years of substantial earnings. 2013 substantial earnings are $20,175 and above. I earned about $24,000. That is my gross amount. Are substantial earnings based on my gross amount or my net amount (after I deduct my expenses)?

Q. If I continue to work at a Social Security-covered job past the age of 62, will the windfall elimination provision deduction be reduced? I retired from the Postal Service as a CSRS employee in 2004. Prior to my Postal Service time, I had 12 years of substantial earnings in the private sector. Since my retirement in 2004, I have worked for 10 years in a job that pays Social Security deductions. So, as of now, at the age of 62, I have 22 years of substantial earnings. I have contacted the Social Security Administration and been told to use…

Q. I am a CSRS Offset employee with five years of “pure” CSRS and 22 years of CSRS Offset and three additional years of Social Security substantial earnings (so 25 years total of substantial Social Security earnings). I am getting different answers as to how much my CSRS annuity will be adjusted at age 62 (i.e., the offset) and how much my Social Security benefit will be affected by the windfall elimination provision. My question is whether the combined benefit at age 62 of CSRS pension plus Social Security benefit ever ends up being less than the CSRS Offset benefit…

1 2 3 5