Q. I am a under CSRS. I maxed out (41 years, 11 months) in January. I am aware that CSRS deductions will continue and will be returned to me with interest upon my retirement. However, my leave and earnings statement does not indicate how much is being put into this account. The L & E statement also indicates that the government is also still contributing. Is this normal, or should I be seeing how much is in this account? A. Nothing changes when you reach the number of years and full months of service that would produce the maximum earned…
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Q. I withdrew $4,000 after leaving federal service. I returned and plan on retiring after 30 years of service. I intend to pay back the withdrawal. Can I repay after I retire to regain the years I lost when I withdraw? Or do I have to repay while I’m still employed in federal service? A. You have to complete the redeposit, plus accrued interest, while you are employed by the federal government.
Q. I worked for the federal government from January 1981 to November 1990. I pulled my money from CSRS retirement and worked in the private sector until September 2010. Upon returning to federal service in September 2010, I paid Social Security and put money into my 401(k), which I have rolled into my Thrift Savings Plan. I am in CSRS Offset, I declined the FERS option and stayed with CSRS. I am trying to find out whether to pay back the CSRS money I pulled in 1990? I also recently got married, so how will my benefits be paid once I…
Q. I am a federal employee under CSRS. If I resign, instead of retire, and withdraw all of the money I have contributed to my retirement, will I receive interest on that amount? A. No.
Q. My husband was in the Naval Reserve from June 1971 to June 1976. He was not called to active duty, although I believe the two weeks of training every year and six months of boot camp/school may be classified as active duty. If that’s correct, he had about 36 weeks of active duty subject to buyback. For his six years in the reserve, he was paid a grand total of $2,165.45, according to military records he has in his file. He was under CSRS but had a brief break in service in 1987 and came back into the federal…
Q. I have 22 years of federal service: 10½ years in the Air Force and 11½ in the Defense Department, leaving as a GM-14 in 1990. I was under CSRS and took the small lump sum when I left. Can I repay into the system and qualify for an annuity? I am 62½ years old. A. No, you can’t. You would only be able to redeposit that money, plus interest, if you were a current employee of the federal government.
Q. I worked as a GS clinical nurse from Sept. 12, 1999, to Sept. 24, 2005 — a total of six years. On May 10, 2010, I returned to federal service as a GS clinical nurse. My service computation date was determined to be Feb. 8, 2008. How was this date arrived at? I previously worked from February 1991 to January 1996 as a GS worker and foolishly took my retirement monies out. I know I have lost that time. But that should not cause me to lose three years of service time, should it? A. Unless you re-deposit the…
Q. I moved to another base due to a base realignment and closure in 1994. I was told by my personnel office several years ago that it would be to my advantage to pay back my military time. So, trusting their advice, I paid it back. And because the interest accrued since 1986, the dollar amount tripled. I served in the Navy from 1974 to 1978. However, I attended a retirement class for CSRS employees and was told by the instructor I didn’t need to pay it back. I do not have 40 quarters and I will not be eligible…
Q. I am a 54-year-old federal government employee with 18 years of service (come October). I plan to retire at age 62, and am curious about whether or not to buy back four years of military time. I got out of the military in November 1980 and am curious how much this would cost. A. To find out how much you would owe, complete Form RI-20-97, Estimated Earnings During Military Service, and mail it to the finance office for your branch of service along with a copy of your DD 214, Report of Transfer or Discharge. When you get a…
Q. I have 44 years of civilian service under CSRS and 2,400 hours of unused sick leave. Will the year of sick leave be added to my years of service and give me 82 percent annuity or just 80 percent annuity? A. Sick leave isn’t subject to the 80 percent annuity limit, which applies to any retiree who has reached 41 years and 11 months of service. Your unused sick leave will be added to your actual service and used to increase the amount of your annuity. Therefore, your 2,400 hours would add one year and one month to your earned annuity…