Q. I am contemplating retiring this year with 30 years in FERS. I was under CSRS when I started in 1970 and left in 1974 to start my family. I was reinstated into the federal government in March 1987, with a new service computation date of 1983 and four years in CSRS. When I returned, I was automatically placed into FERS. Now that my retirement is drawing closer and I have been to Social Security, they are telling me that they will take two-thirds of my Social Security benefits, listed as CSRS Offset. I have done some research and see…
Browsing: rehired
Q. I am a GS-14 federal retiree, having retired in October. I worked continuously (no break in service) for 34½ years. My period of employment was entirely competitive service. I was classified as exempt from the federal Fair Labor Standards Act. I am interested in knowing how I would be paid if I decided to apply as a rehired federal annuitant. Is there a table that you can point me to with a step-by-step decision tree as well as examples of how a salary would be determined? A. Nope. There aren’t any tables or decision trees. It would be up…
Q. I left federal service in 1988 after 13 years of service and took out my CSRS money, which was about $20,000 at that time. I have decided to return to federal service and want to be in CSRS Offset. I was told that repayment would include yearly interest and would be about $80,000. How is interest calculated? May I roll over either an IRA, Roth or my personal 401(k) into the CSRS Offset account to repay my debt and avoid paying taxes? What about the taxes on the $20,000 that I paid in 1988? Would they eliminate at least…
Q. I have read several articles discussing the rise in employee contributions into the FERS portion of our retirement. It mentions new hires and rehires with less than five years of service. Does this “five years of service” apply only to rehires hired after December 2012, or does the “five years” also apply to new hires, as well? My service computation date is July 2009, meaning that I will have less than five years of service at the end of 2012. Am I going to face this FERS increase, or does the five-year issue only apply to new hires? A.…
Q. I am a 54-year old retired federal law enforcement officer, currently re-employed as an annuitant in a federal position with a waiver of the reduction of pay for my pension. The term of the position is nearing expiration and I am considering federal re-employment in another position that does not provide a waiver of the reduction in pay for my pension. I know that my pay will be reduced by my basic FERS annuity payment, but will it also be reduced by my FERS supplement amount? I have two years until I reach minimum retirement age, when my supplement…
Q: How soon can I return to federal service after taking a $25,000 buyout? I am a federal employee, GS-14. A: Five years. If you return before that, you’ll have to repay the amount you received plus accrued interest.
Q: If a person retired as a GM-14 supervisor under the Civil Service Retirement System, can that person be brought back as a rehired annuitant in a supervisory position? A: There is nothing in law or regulation that would prohibit that; however, you’d need to check with the agency that is considering hiring you to see whether there is a policy that would prevent such an appointment.
Q: I am a Civil Service Retirement System optionally retired rehired annuitant. Because I am under CSRS for retirement, is my salary as a rehired annuitant subject to Social Security withholding? A: As a pure CSRS rehire, you aren’t subject to Social Security deductions unless you were hired as a senior official. If you were, you’d be covered by CSRS Offset, and Social Security deductions would be mandatory.