Q. I entered into federal service in 1983 under CSRS and left in 1986 after three years in order to go into graduate school. I was told I could leave my retirement money in the CSRS system and come back in later and I would be able to continue as before with that system. When I came back into federal service in 1991 I was presented with a refund check and told essentially “sorry, but you’re in FERS now”. Is this correct? Didn’t they change the rules while I was gone? A. What you were told at the time was…
Browsing: CSRS
Q. My father passed away in 2001 and he retired under the CSRS plan in April 1983. My mother has been receiving a CSRS survivor annuity. This year the tax preparer is saying that her annuity is tax-free based on the contribution my father made into the CSRS. I’m a little confused because since her 2001 tax record no one has ever said her annuity was tax-free. Why are they saying it now? Her 1099 reflect the employee contribution amount, but also shows the taxable amount as unknown. I have tried to research the IRS pubs, but the formulas to…
Q. I have two questions if you don’t mind. 1. When I retired (CSRS), I elected full survivor benefits for my wife. Will her survivor benefit be based on the amount of my annuity when I retired or when I died? 2. With all the talk of private retirement funds being decimated by the economic downturn, is there any way of knowing or determining how financially solvent the CSRS retirement fund is? A. If you were to die before your wife, she would receive 55 percent of the annuity you would have received if you hadn’t elected a survivor annuity,…
Q. My husband, age 56, has worked on the railroad for 29 years and is now on a disability from the railroad. I am working under CSRS and have been a federal employee for 30 years (age 57). Can my husband collect any benefits under CSRS and railroad retirement at the same time? When I retire, are we able to collect half of each others retirement or is it the greater of the two? A. The only CSRS benefits that are payable to a spouse are survivor benefits. At retirement you would need to elect that benefit and have your…
Q. I am a federal CSRS retiree and my 2010 monthly Medicare deduction increased from $96.40 to $110.50. My husband is a Social Security retiree only and his Medicare deduction remained the same for 2010 as was withheld in 2009, which was $96.40. In trying to find an answer to this disparity, one Web site tells me: “If you make less than $85,000.00 per year, it will be $96.40 per month. If you make more per year, see the link below for those amounts:” Since my gross monthly annuity is $3514.00 (annual total annuity of $42,168.00), is far less from…
Q. I am currently receiving a CSRS pension of $3000 a month. My spouse will not receive CSRS Survivors Benefit when I die. I have over 40 quarters of Social Security contributions. Will my spouse be eligible to receive Social Security Survivor benefits when I die? A. Yes
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…
Q. I am a postal employee with 27 years of service. My retirement plan is CSRS. Can I transfer to another branch of the government and transfer this time with me? Will it count toward my civil service retirement? A. Yes, if you transfer to another government agency your service record will transfer with you and that time will count toward the total years needed to retire. A rare exception to that rule would be if you were to transfer to an agency that had its own retirement system and didn’t recognize your prior service.
Q. I retired three years ago under CSRS Offset LEO. I had 20.5 years under CSRS offset, five years under regular CSRS, six years military time, which I brought back and paid Social Security. Additionally, I have contributed another three to four years to the Social Security system. During this time I had significant earnings. Due to my military injuries I have decided to go on Social Security Disability. I’m 53. Will my federal annuity be reduced? I have been told by several people that it won’t. What is the deal? A. Your CSRS annuity won’t be reduced until age…
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…