Q: From 1983-98 I worked full time for government – CSRS retirement (15 years). From 1998-2000 I worked part time for government – FICA 2000 – went to work full time again for governement, was placed in FERS automatically. A few months later I was told I should have been CSRS offset and sent a letter that allowed me to opt into FERS, the letter scared me, saying that there could be substantial amounts reduced from my pay. I was never counseled on the best retirement plan in my case. At that time, I was going through a divorce (NOVember…
Browsing: CSRS offset
Q: I am Discontinued Service Retirement eligible and I am being separated because of a reduction in force. I am in the Priority Placement Program for a year. Why can I not wait until the year is almost up to put in for my DSR? Also, I am a FERS employee, but I have money that I paid into CSRs. I am not a in CSRs offset because when I was transferred the choices were not explained to me. I was just told that I had to transfer. When I retire, what happens to the money I paid into my…
Q: I had 13 years of Social Security employment (max contribution) before entering CSRS Offset in 1991. My salary was always maximum Social Security contribution. I am 64 and considering retirement at age 66. Do CSRS Offset years count in meeting the 30 year requirement to avoid WEP? A: All years of Social Security-covered employment in which you had substantial earnings count toward the 30 years needed to avoid the windfall elimination provision.
Q. I have been a federal employee for 32 years, CSRS Offset, and this is the first I have heard of this program. Can you please explain the program? A.The Voluntary Contributions Program is open to CSRS and CSRS Offset employees. It allows them to make contributions to the Civil Service Retirement and Disability Fund and earn tax-deferred interest. They have the option at any time of asking for a refund of all contributions and interest or, at retirement, using the money to buy additional annuity. For more information go to www.opm.gov/retire/pubs/pamphlets/forms/RI83-10.pdf.
Q. Can I be charged offsets on both Social Security & CSRS? A. Yes. Your CSRS annuity will be offset by the amount of Social Security benefit you earned while employed under CSRS Offset. Your Social Security benefit will be reduced if you have fewer that 30 years of substantial earnings under Social Security.
Q. I am enrolled in CSRS Offset. I received a VERA/VSIP buyout in 2001 and returned to work in 2008. I am 56 years old and have 28 years of federal service. I indicated on the recent survey that I would accept a buyout if offered. I am now told that I am ineligible for a buyout because a person can only receive one buyout in their lifetime. Is there any regulation that states an employee can only receive one buyout? A. Your agency is correct. For confirmation, go to www.opm.gov/employ/html/vsi.htm.
Q: I am an employee under the Civil Service Retirement System Offset program, and I plan on retiring at age 64. I know my annuity will be reduced for the period of time I was an offset employee. I have dealt with the local Social Security Administration office and I am concerned; they had no idea what the offset is. Does the Office of Personnel Management deal with SSA experts for the offset? A: OPM and the Social Security Administration have a file-matching system that allows OPM to accurately reduce a CSRS Offset annuity by the amount of Social Security…
Q: I am getting ready to retire. I worked for the government from 1968 to 1972, then worked in the private sector and earned my 40 quarters in Social Security. I returned to work for the federal government in 1984 as a Civil Service Retirement System Offset employee. I was told that because I earned my 40 quarters from the private sector that my government annuity would not be reduced: I will get a full government annuity and a full Social Security check. Is that right? A: By law, your CSRS annuity will be reduced at age 62 by the…
Q: I had 13 years of Social Security employment (max contribution) before entering the Civil Service Retirement System Offset in 1991. I am 64 years old and considering retirement at age 66. Do CSRS Offset years count in meeting the 30-year requirement to avoid the windfall elimination provision? A: All years of Social Security-covered employment in which you had substantial earnings count toward the 30 years needed to avoid the windfall elimination provision.
Q: I have been a federal employee for 32 years in CSRS Offset, and this is the first I have heard of this program. Can you please explain the program? A: The Voluntary Contributions Program is open to CSRS and CSRS Offset employees. It allows them to make contributions to the Civil Service Retirement and Disability Fund and earn tax-deferred interest. They have the option at any time of asking for a refund of all contributions and interest or, at retirement, using the money to buy additional annuity. For more information go to www.opm.gov/retire/pubs/pamphlets/forms/RI83-10.pdf.