Q. I hope to retire under CSRS at age 60. Will Medicare deductions continue to be taken from my CSRS pension checks when I retire? If so, will the deductions end when I turn 65 and am eligible to invoke Medicare coverage? A. Deductions for Medicare are only taken from earnings from wages or self-employment, not annuities.
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Q. I will retire under FERS and will be rehired by an agency as a rehired annuitant. Will I still receive my full supplement? A. If your earning from wages or self-employment exceed the annual Social Security earnings limit, your special retirement supplement will be reduced or eliminated. In 2012, the earnings limit is $14,640. If you exceed that limit, $1 in benefits will be deducted for every $2 in earnings.
Q: Is the $14,160 earning limit on early retirement gross, or net? I am self-employed and have expenses. I do not net more than $14,000. A: The earning limit is the gross amount of your income, not the net.