Q. Eight years ago, I retired under CSRS with 21 years of service as an air traffic controller. Prior to my controller years, I earned three years of Social Security credits and served seven years in the military. Since retiring I have worked full time at a good salary and my Social Security statement says I have earned enough credits to qualify for benefits, but I think I’m subject to the Windfall Elimination Provision. Assuming that is true, if I don’t elect to receive Social Security at age 62 and wait until my full retirement age of 66 to receive…
Browsing: Windfall elimination provision
Q. What are the chances of this outright government theft of our hard-earned Social Security benefits — the windfall elimination provision — being moved forward, through both houses of Congress, repealed and how soon? A. The chances are the same as they’ve been for years, not that hot. One reason is that your reason for eliminating it is unsound. Before the law was changed in 1983, employees who worked in jobs not covered by Social Security, such as CSRS, had their benefits computed as if they were long-term, low-wage workers. As a result, they received the advantage of a higher…
Q. I am retired from the postal service as a CSRS employee. I had already worked for private agencies and paid in enough quarters (40) and over to draw my Social Security before I ever started working for the federal government. However, even though these quarters were earned prior to any federal employment, my Social Security check has an offset on it. I have been told by a Social Security attorney that this should not have been done. Is this correct? A. Your Social Security benefit wasn’t offset. It was reduced because of the windfall elimination provision of law. The…
Q. I recently retired from the Postal Service under CSRS Offset and the Air Force Reserve. Upon retirement I had my postal retirement decreased due to the amount I was receiving from the military. This was done even with a deduction of pay going to my ex-wife. She is getting part of my military and postal retirement (plus $500). What are the rules that apply to these deductions? I also put in for early Social Security and that amount was also decreased as a windfall profit (whatever that means). What are the rules on that decrease? How can I change…
Q. I have recently retired under CSRS-Offset at 68 with 23 years of substantial earnings under Social Security. Before I retired I was receiving Social Security Survivors Benefits from my spouse work record in private industry. Will the windfall elimination provision affect the Survivors Benefit? A. The windfall elimination provision doesn’t apply to Social Security survivor benefits. The government pension offset does. However, because you were covered by CSRS Offset for at least five years, it doesn’t apply to you. Your survivor benefits won’t be affected.
Q. I have over 30 years of substantial earnings under Social Security. My spouse has 20 years of substantial earnings under Social Security. She also falls under the windfall elimination provision (WEP) because she is an educator and will receive a pension. My benefits are such that if she accepts the spousal benefit, rather than her own, it will be higher than her regular payment. That would then be subject to WEP. But, since I have over 30 years of substantial earnings, should she be eligible for the full spousal benefit? If she had over 30 years she would receive…
Q. I’ve got 37 years in the CSRS system and I’m 57 years old. I also have 37 quarters in the Social Security system. Would it be advantageous for me upon retirement to earn the remaining quarters to become eligible for Social Security? I’m hoping to retire within two years and wanted to know about the offset with my annuity within the CSRS system? A. Earning the additional credits needed to qualify for a Social Security benefit would have no affect on your CSRS annuity. Instead, the windfall elimination provision of law would reduce the amount of your Social Security…
Q: What is the status of the legislation regarding doing away with the significant penalty the federal government retirees incur when becoming eligible to draw, if any, Social Security benefits? A: I assume that you are asking about the windfall elimination provision, which reduces the Social Security benefit of anyone receiving an annuity — in whole or part — from a retirement system where he didn’t pay Social Security taxes and has fewer than 30 years of substantial earnings covered by Social Security. The short answer is that bills to modify or repeal that provision have stalled in both houses…
Q. I will be fully eligible to retire in 2012. I am under CSRS. I also receive Social Security notices about how much SSN I will receive at Social Security age. Will I be able to receive both? A. You will receive your full CSRS annuity. However, the amount of Social Security benefit you’ll get will be affected by the windfall elimination provision of law. The WEP reduces the Social Security benefit of anyone who receives an annuity from a retirement system where he or she didn’t pay Social Security taxes, such as CSRS, and has fewer than 30 years…
Q. I am a FERS employee and I plan to retire in the near future. As I have a CSRS component, I will be impacted by the Windfall Elimination Provision when I begin to draw Social Security. As my spouse is also a FERS employee, it is possible that my spouse benefit for Social Security may exceed my own benefits. I will turn 62 eight years before my spouse. And we both plan to draw Social Security when we each turn 62, respectively. I understand that I will not be eligible for a spouse Social Security benefit until my wife…