Q: Your recent article on the Personal Advisor in the Nov. 2 issue of Federal Times described retirement benefits. You note that in 1983, “Those already covered by [Civil Service Retirement System] had the option of electing full coverage under both CSRS and Social Security …” However, your description doesn’t seem to recognize the Windfall Elimination Provision, such that those who elected to be covered by both get the severe reduction on their Social Security from the WEP. Is my understanding correct, or is something on WEP changed? I understand that I will get the WEP reduction on my Social…
Browsing: Offset
Q: My wife retired at the age of 58 with a Civil Service Retirement System annuity. If she has 40 quarters in the Social Security system before she is 62, will she be able to collect her Social Security at age 62 without a reduction in her CSRS annuity? A: If she was covered by CSRS alone, her CSRS annuity won’t be reduced. However, her Social Security benefit will be reduced through the workings of the Windfall Elimination Provision. The WEP reduces — but doesn’t eliminate — the Social Security benefit of anyone receiving an annuity from a retirement system…