Q: I have a question regarding reinstatement and retirement. I began my federal career in 1982 under CSRS, and separated from employment in 2003 under a buyout. I withdrew my CSRS contribution in a lump sum upon separating. I am now thinking seriously about going back to the government. I will repay the lump sum, but which retirement plan will I be under, CSRS or FERS? A: You will automatically be covered by CSRS Offset (CSRS and Social Security) with the option of electing to be covered by FERS. If you elect FERS, your prior CSRS service would become a…
Browsing: CSRS offset
Q: I am a federal employee in the CSRS Offset system. I will be 55 in six months and have 29½ years of federal civilian service and one year of unused sick leave. The first three or so years of my federal service was a combination of student employment or term appointments that took place off and on between 1974 and 1984; I have been employed full-time with the government and without a break since 1985. In addition to and, at times overlapping with my federal employment, I have about 15 years of mostly part-time nonfederal employment in all of…
Q: I am 60 and just started to think about retirement. I have 23 years of federal service. I will have worked under CSRS Offset for 16 years on July 2010. I have an opportunity to go back to my previous employers (private industry) and will have 21 years of service after I meet the requirement to work five years to make me eligible for their retirement. Suppose my CSRS retirement is $30,000 per year. Suppose my Social Security for my CSRS Offset time is $10,000 per year. Then my CSRS income is only $20,000. But since I want to…
Q: I retired from USG under the CSRS Offset in 2009 at 60 with 23 years of service. I am now 62 and am still working in the private sector and have not nor intend to apply for Social Security benefits until much later. However, I received a letter from OPM last month stating that “by law we must reduce your annuity if you are eligible for” Social Security, “regardless of whether you have applied for the SSA benefit or have begun to receive it.” The offset ($500 in my case) is linked to PL 98-168 and PL 99-335.The OPM…
Q: I plan to retire from Defense Department in four years when I turn 60. At that time I will have 25 years of creditable service. I received a CSRS Offset Retirement Estimate from my personnel office. I owe $8,500 of unpaid CSRS redeposit. I’m trying to determine whether to pay it back now or just have it taken out monthly when I start receiving my retirement. The projection shows they would deduct $71 per month from my annuity. I have to give 50 percent of my retirement annuity to my former husband. I don’t really want to take $8,500…
Q: We have an employee who retired April 3, 2001, and was rehired as a reemployed annuitant, Oct. 7, 2002. The employee was coded with the retirement Plan of (1) CSRS and Annuitant Indicator of (1) Reempl Ann-CS. Is this correct, or should he have been coded as CSRS Offset? A: If he was a CSRS employee when he retired, he would be a CSRS reemployed annuitiant. If he was CSRS Offset, he’d be CSRS Offset. In either case, he would have the option of electing to be covered by FERS.
Q: I worked for the government from 1966-1972 (six years) and withdrew my CSRS retirement at that time. From 1972 to 1988 I worked in private industry and paid Social Security. I returned to civil service in 1990 and was automatically enrolled into CSRS Offset. I retired June 30, 2010 with 26 years of credited government service and applied for my federal pension and Social Security. When the Social Security Administration calculates my offset, is my service outside government taken into consideration? The papers I received showed only 20 years of government service for their calculations, so I’m assuming that…
Q: I worked for the federal government covered by CSRS prior to 1985; after a break in service I was re-employed as a CSRS Offset. I understand that when I am eligible for Social Security at age 62 my CSRS annuity will be reduced and a Social Security benefit based on work done while I was covered by CSRS Offset will be added. Am I correct in thinking that the total of the two benefits will equal the original CSRS benefit? Am I required to take the Social Security component at 62 or could I delay for a larger benefit later? I am eligible for a…
Q: Articles in Federal Times mentioned that CSRS employees will not receive the payroll tax deduction, but they have not mentioned CSRS Offset employees. As CSRS Offset employees pay into Social Security, will they receive the payroll tax deduction in 2011? A: Yes, CSRS Offset employees will receive the Social Security payroll tax deduction with no increase in the amount they contribute to CSRS.
Q: I am 67 years old and have 10 years of federal service. I want to work another 10 years before I retire. I worked for 15 years in government beginning in 1966 before resigning and taking the retirement money. I would need to pay $23,000 at this point to refund that money. Is it worth it, or should I remain in the Civil Service Retirement System Offset program? A: Let me clear up a few points. First, because you took a refund of your retirement contributions before March 1, 1991, you’ll get credit for those years in determining your…