Q. If I retire and receive the FERS supplement, will that money be subject to an offset if I have a job and earn income similar to Social Security? When receiving Social Security, does this limitation on earning income end when I become eligible for my full Social Security entitlement? In my case, I think it’s 67 because I was born in 1956. A. The special retirement supplement operates under the same rules as a Social Security benefit. It is subject to the Social Security earnings test. If you are under full retirement age, your SRS will be reduced by…
Browsing: retirement age
Q: I will be 52 years old in June and will have 20 years of service in September 2011. Five years of that was as a temporary employee. Could I be eligible to take an early out on the offer of adding five years to my age and five to my service? I do not participate in medical insurance here so that would not be a consideration for me. A: Because your non-deduction service was performed after December 31, 1988, that time isn’t creditable for any retirement purpose. As for having five years added to your service time and age…
Q: I am 65 years old and will have 30 years with the federal government as of January 2012. I previously worked for 15 years in the private sector and am covered by Social Security. I will be 66 in January 2011 and have been told that I can draw my full Social Security benefit while I am still working. Is this true? Besides taxes, is there a downside to drawing your Social Security while you are still working? A: There is no limit to the amount you may earn after you reach your full retirement age. The only downside…
Q: I am a 66-year-old U.S. Postal Service employee who was born in 1944. I had planned to retire with 15 years of service this month; I thought that I would have recovered from on-the-job injuries by this time. I had already signed up for Social Security to begin on my 66th birthday (this month), but now my doctor says he needs to do more surgery on both arms before he will release me at maximum medical improvement. Also, I keep hearing that a voluntary early retirement is on the way and want to wait a little while to see.…