Q. My wife is a CSRS Postal Service employee with four years of military time and will retire in February with 36 years total. She did not pay back her military time. She was told by the post office that Social Security would deduct the money from her check when she reaches 62. 1. My wife does not plan on trying to collect Social Security at age 62, so will they still lower her retirement check? 2. I was told during a civil service retirement seminar that if she waited until age 68, she could go back to work and…
Browsing: CSRS
Q. I am contemplating retiring Dec. 31, Jan. 2 or Jan. 3. I am not sure how the CSRS annuity check is computed. Based on a full month? Or if I retire during the month, is it prorated, or is that month lost. 1. When does my CSRS pension start if I retire on Dec. 31? Do I receive an entire month’s (January 2013) pension check? When would I receive it? 2. If I retired on Jan. 2 or 3, when would I receive my annuity check? Is it prorated for January? 3. Also, since the leave year ends Jan.…
Q. I am a Postal Service employee under CSRS. I am planning on taking the incentive and retiring Jan. 31, which will give a total of 34 years and nine months of service including sick leave. I have used approximately 3,700 hours of leave without pay over my entire career with the maximum used in one year being 408.46 hours and the minimum being zero. 1. It is my understanding that any LWOP used during that time, as long as it does not exceed six months in any year, will not affect my length of service used to determine my…
Q. I am a Postal Service employee under CSRS. I am planning on taking the incentive and retiring Jan. 31, which will give a total of 34 years and nine months of service including sick leave. I have used approximately 3,700 hours of leave without pay over my entire career with the maximum used in one year being 408.46 hours and the minimum being zero. 1. It is my understanding that any LWOP used during that time, as long as it does not exceed six months in any year, will not affect my length of service used to determine my…
Q. I worked in high school and through college paying into Social Security and earned 28 quarters. From 1974 to 2009, I worked under CSRS and paid no Social Security. Upon retirement, I collected my monthly annuity from CSRS, then started working in private sector and will get my 40 quarters in January. I turned 62 in October. How is the reduction computed for my monthly Social Security payments? My monthly retirement is around $6,500 from CSRS. A. Your Social Security benefit will be affected by the windfall elimination provision. The WEP reduces the benefit of anyone who is receiving…
Q. I am part of CSRS set to retire Feb. 1. However, with the fiscal cliff looming and consideration of a change to the retirement calculation based on a high five years of performance, should I consider retirement in 2012. How quickly could retirement criteria change, and could this change affect those of us who are considering retirement in the next few months? A. There is no way to know what the future will hold. Nevertheless, things will become clearer as we get closer to the so-called fiscal cliff. The best you can do is keep your eyes and ears…
Q. I retired from civil service March 31 after 45 years and nine months under CSRS. Before that, I served three years in the military (1962-65), and other private industry jobs throughout the years went to Social Security to earn 40 quarters. At age 65, I started drawing a Social Security pension. Now, Social Security says it is reducing that check by half and I have to repay half of what was paid to me since April 1 unless I can prove it was not my fault I received the money. What? This all because I retired and started drawing…
Q. My plan is to retire Jan. 1, 2014. I am 66 years old and, as of Jan. 1, 2013, will have 33 years of government service under CSRS. If sequestration happens and I lose my job, will I be able to apply for retirement at that point, or will it be lost? A. Since you already meet the age and service requirements to retire, you could do that at any time. Sequestration would have no effect on your entitlement to an annuity or its payment to you.
Q. I have 33 years in and am under CSRS. I will be 60 years old in May. I served less than two years in the Army in my 20s. I am a WG-8 making almost $25 an hour. I receive correspondence statements from Social Security that if I retire at age 62, I would be eligible for approximately $300 based on a second job 12 years ago and jobs before joining the government in the 1980s. 1. Should I buy back the time I have in the Army? 2. Will the buyback help increase my Social Security? Or will…
Q. I entered civil service Dec. 29, 1984. After contributing to CSRS for two years and accumulating approximately $3,500 in the retirement block of my leave and earnings statement, I got paid one day and the LES reflected about $9 in the retirement block. I went to payroll to inquire as to where the $3,500 already contributed had gone. This was about 1987, so I don’t remember the exact verbiage, but it was something like “You have a long time before you retire. Why are you worrying about that?” The payroll office was not even aware of the new FERS,…