Q. I’m a rehired annuitant paying into CSRS. The first time I retired, I had 44 years of service and received a refund of the overpayment I had paid into CSRS. I have been re-employed for the last 10 years and have paid into the CSRS again. Upon my next retirement, will I get a refund of the money I have paid into the system or just a recalculation of my pension? A. What would happen is controlled by the 80 percent limit on the amount of annuity you can receive based on your highest three consecutive years of basic…
Browsing: annuity recomputation
Q. I took a voluntary early retirement (at age 52 with 20 years of service) about five years ago and have since been re-employed with federal civil service full time. My salary is reduced by my retirement annuity, and I understand I need to work five more years to receive a recomputed retirement. Can I cancel my existing federal retirement and just receive my full salary? This may give me the more secure status of being a regular employee rather than a re-employed annuitant. A re-employed annuitant appears to be more vulnerable to reductions in force. Also, my next five…
Q. My spouse is older than 60 and has become disabled. My spouse has 28-plus years of service in FERS. Is is true that my spouse would get less on disability than normal retirement since my spouse would get no Social Security bridge? I know about the annuity recomputation at 62. A. When your spouse applies for a FERS disability annuity, your spouse will also have to apply for Social Security disability benefits. If your spouse was approved for a disability annuity, it would be calculated as follows: — For the first 12 months: 60 percent of your spouse’s high-3,…