Q. I have 25 years of CSRS service. From 1971 until Aug. 15, 1991, I worked for the post office, then I quit and took out my retirement, $20,000 at the time. I went back to work at the VA in 2008. I owe $64,000 on my deposit. I was in FERS; then FERCCA helped me get in the offset. When I retire, I will be 62. Am I entitled to an actuarial reduction? How does that work? A. Because you took a refund of your retirement contributions after Feb. 28, 1991, you will receive credit for that service in…
Browsing: CSRS
Q. I am eligible for CSRS retirement with 39+ years of service. I just completed a temporary promotion to manager for five months and some days. Will that pay increase be considered in my high-3 for retirement? A. Yes. A high-3 is based on the average of the three highest consecutive years (78 pay periods) of basic pay.
Q. I have been re-employed under CSRS since Jan. 22, 2006. I have more than 30 years of civilian government service and I am over 55 years old. I am going to retire a second time next month. My annuity continued during my re-employment, it was withheld from my pay for the entire re-employment, and I paid into CSRS at 7 percent of the total amount (pay plus withheld annuity). It is my understanding and that of my personnel office that I will get a re-determined annuity based as if I had never retired. I want to make sure all…
Q. I just retired under CSRS and my last day at work was Jan. 3. For purposes of the high-3, how is the three-year period defined? Three true calendar years? Three calendar years limited to 365 days each? A total of 1,095 calendar days (three 365-day periods)? My salaries were: 1/4/10 to 1/30/10 = $92,992 1/31/10 to 1/28/12 = $99,239 1/29/12 to 1/3/13 = $102,074 Specifically, Feb. 29, 2012, was a leap year’s extra day and, being at my highest salary, my working that day should benefit the high-3 figure. If Feb. 29, 2012, did not exist (or does not exist in the…
Q. I am a CSRS employee who has worked for the government for 40 years. I also have 27 credits for Social Security. I work for my husband as an accountant for free. If I start charging him and take payments under a 1099, how many credits do I have to earn to get Social Security payments on top of my CSRS benefit when retire? A. In 2013, you’d need to earn $1,160 to get one Social Security credit, $4,640 to earn four credits. It would take you over three years to collect the 40 credits you’d need to be entitled to a…
Q. I have 36 years of creditable service under CSRS, and I am 56 years of age. In a reduction-in-force situation, assuming I was not placed in another government position, would I be entitled to both 52 weeks severance pay and an immediate annuity? A. Because you’d be eligible for an annuity, you wouldn’t be eligible for severance pay.
Q. I am 54 years old and was employed with a federal agency for 17 years from 1979 to 1996. Upon resignation to enter the private sector, I withdrew 100 percent of my CSRS contributions. If I return to full-time federal employment this year, do I have the option of buying back the creditable service of 17 years for the same amount that I withdrew in 1996? Secondly, would I be able to continue with CSRS rather than FERS upon re-employment? Would I be eligible to retire after eight more years of federal employment service? A. If you returned to…
Q. When I retire at the end of this school year, I will have 43 years of service with the Department of Defense Education Activity and 130 days of unused sick leave. I have been informed that my sick leave can be used to add additional service time. Does that apply when I have already reached 80 percent of my salary for retirement? A. Yes. Unused sick leave isn’t subject to the 80 percent limit.
Q. I retired from federal service under CSRS in 2004 with full survivor benefits provided to my spouse following my death. Will my spouse still be able to receive her Social Security benefits at their full value? If my spouse passes on before I do, are there Social Security survivor benefits that pass on to me or our unmarried daughter, who is dependent on us for support? A. Your spouse would be able to continue receiving her earned Social Security benefit. If she were to die before you, any spousal or survivor Social Security benefit you would otherwise be entitled…
Q. Will VSIP income, upon retirement, count toward credits earned for Social Security eligibility? I served in the military for four years in the early 1970s. I never bought that service time back. I have earned only 30 Social Security credits and thus won’t be eligible for Social Security benefits at age 62. I am 60 and federally employed with 42 years under CSRS. If I accept a VSIP ($25,000 gross) upon retirement before age 62, will that money count toward Social Security credits earned? If so, how many? And will the credits reduce my annuities at age 62, having…