Q. Is there a part-time retirement option? That is, can I work part time in my current job as a civil servant (and be paid at my current salary accordingly) and be retired the other part of the time (and collect some fraction of my retirement annuity)? I am under the CSRS with 40 years (at NASA). A. A law was recently passed that would allow that; however, regulations and guidance haven’t been issued. Even when they are, it will be up to each agency to determine if it wishes to use that provision of law and in which situations.
Browsing: CSRS
Q. I retired from the federal government two years ago. I was under CSRS. I paid into Medicare while working. Is it necessary for me to have it taken out of my annuity now that I am retired? How do I get it taken out since they do not automatically do it? A. You already paid for Medicare Part A coverage through payroll deductions. The Social Security Administration will get in touch with you shortly before your 62nd birthday to enroll you. To enroll in Medicare Part B, for which you’d pay the premiums, you’d need to call the Social…
Q. I have a little more than 20 years of CSRS and resigned in 2001, leaving my contributions in place. I am considering re-entering and will be covered under CSRS Offset. If I work for three to four years and resign, will my deferred annuity at age 62 be based on the new high-3? I’ve heard conflicting information about how many years I would have to stay under CSRS Offset for a new high-3 calculation. A. Your high three is always the highest three consecutive years of average salary, regardless of when they occur in your career. For example, it…
Q. I am a returning civil service employee, first hired in August 1982 under CSRS. I was employed for 16+ years, then left for 13 years of military service. I am getting rehired in a federal position. Will I be reinstated under full CSRS or CSRS Offset? I did not take a refund, I am collecting a military retirement, and paid Social Security since 1975. I intend to work for five years. Will I be subject to the windfall elimination provision? A. You will be placed in CSRS Offset because you had a break in service that exceeded one year.…
Q. I am a CSRS employee, 53 years old, and have 29 years of coverage under 6c law enforcement pay. I have been fortunate enough to be selected for a non-6c SES position. Can you tell me how this will affect my ability to retire? A. Because you are at least 50 years old and have at least 20 years of law enforcement-covered service, you may retire at any time. Taking a non-LEO position won’t affect that right.
Q. I am under CSRS. If I retire Dec. 29 and receive payment for unused sick leave, will the payment be considered income in 2012 or 2013? A. Sick leave has no cash value. It can only be added to your actual service and used in the computation of your annuity.
Q. I retired at age 55 in 1989. I assume I am in FERS. Am I correct? A. Why would you assume that? FERS didn’t come on line until Jan. 1, 1987. Unless you elected to transfer to that retirement system before you retired, you are a CSRS retiree.
Q. I retired under CSRS on a Voluntary Early Retirement Authority at age 46 with 26 years of service. I’m considering going back to work with the agency from which I retired. I’m still under age 55 (53 years old). What benefit would returning to full-time work be for me? Can I retire again any time after 55? Will my additional years apply to my retirement the second time around? What happens to penalties previously taken on early retirement? A. If you return to work for the government, your annuity will terminate and you’ll be treated as if you had…
Q. I worked 30 years under CSRS and when the judge for whom I worked retired, our office was “abolished,” and the law clerk and I lost our jobs. I then worked in the civilian sector for six years. I returned to federal court under CSRS Offset for 1½ years. Because of part-time jobs and the six years I worked in the civilian sector, I was eligible for Social Security. I retired after 31½ years of CSRS and the necessary quarters for SS. When SS sent projections before I turned 62, it indicated I would receive about $700 a month…
Q. I am a 61-year-old CSRS employee still working for the federal government with 31 years of service. I also have 41 quarters of Social Security. If I continue federal work until I am 66, will I be able to collect both CSRS and Social Security? A. Yes, while you are employed you can collect both your salary and your full Social Security benefit. However, when you retire, you’ll be receiving an annuity from CSRS, a retirement system where you didn’t pay Social Security taxes; therefore, you’ll be subject to the windfall elimination provision. The WEP will reduce the amount…