Q: I am a retired Civil Service Retirement System annuitant who is currently employed in the private sector. Due to the economic downturn, I am going to have to work longer than I had planned and have been tentatively offered a job with the government. I know that previously, if I returned to work for the government, my salary would be reduced by the amount of my annuity, i.e., I would only draw a salary for the difference. I saw an article that indicated this might be changing with the new Defense Authorization Bill that the president was expected to…
Browsing: annuity
Q: My wife retired at the age of 58 with a Civil Service Retirement System annuity. If she has 40 quarters in the Social Security system before she is 62, will she be able to collect her Social Security at age 62 without a reduction in her CSRS annuity? A: If she was covered by CSRS alone, her CSRS annuity won’t be reduced. However, her Social Security benefit will be reduced through the workings of the Windfall Elimination Provision. The WEP reduces — but doesn’t eliminate — the Social Security benefit of anyone receiving an annuity from a retirement system…