Q. I am trying to clarify Catch-62. I was hired in 1981 and I have 31 years in CSRS at age 55. I also have four years of military service that I have not bought back. If I have 24 quarters of Social Security, by age 62, will the four years of military automatically be added to my SSA quarters, thus reducing my CSRS pension? Or will I have to have the 40 quarters at age 62 beyond the 16 quarters paid while in the military? A. Since Jan. 1, 1957, every member of the military has had Social Security…
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Q. I am a retired CSRS employee and started receiving benefits at a reduced level at age 47 (with 31 years of credited service) due to the BRAC. I worked enough quarters between the City of Norfolk, Va., and NEXCOM (a nonappropriated fund business) to qualify for Social Security. I am still working full time at NEXCOM and plan to start receiving Social Security benefits when I reach 66. Can I continue to work and still draw Social Security, or is there a limit on the amount I can earn and still draw the Social Security? And will the CSRS…
Q. Can you draw Social Security while working if you didn’t pay in 40 quarters but you reached full retirement age? A. No, you can’t. However, if you had 40 quarters, you could continue working and draw a Social Security benefit; and, if you had reached full Social Security retirement age (65 to 67, depending on your year of birth), you wouldn’t be subject to the annual earnings limit.
Q. Can I assume that previous employment to government employment, and a second job with payments to the Social Security trust fund while employed with the federal government, will not be subject to the CSRS offset? This is how I interpret the statement below. “CSRS annuity will be automatically reduced by the amount of Social Security benefit you earned while a CSRS offset employee.” If I am correct, then what is the formula used to determine offset and nonoffset benefits? I have at least 80 quarters accumulated from outside employment while working under the CSRS offset. A. As you noted,…
Q. I am a USPS retiree receiving an estimated annuity from USPS. I am 63½ and am thinking of applying for Social Security. I have more than 40 quarters of Social Security deductions outside USPS. I also have more than 40 quarters of Social Security deductions within USPS under the CSRS Offset retirement system. How will this situation affect my Social Security benefits and/or annuity? A. If you have fewer than 30 years of substantial earnings under Social Security, you’ll be subject to the windfall elimination provision. It will reduce but not eliminate your Social Security benefit. That’s because part…
Q. I am covered under CSRS offset and have reached my 55 and 30 requirements. I also earned 40 quarters outside my federal service. Can I receive a full Social Security annuity based on the 40 quarters? A. No. Because you’ll be receiving part of your annuity from CSRS, a retirement system where you didn’t pay Social Security taxes, you’ll be subject to the windfall elimination provision. The WEP reduces the Social Security benefit of anyone who has fewer than 30 years of substantial earnings under Social Security. The closer you are to having 30 such years, the smaller the…
Q. I worked 30 years under CSRS and when the judge for whom I worked retired, our office was “abolished,” and the law clerk and I lost our jobs. I then worked in the civilian sector for six years. I returned to federal court under CSRS Offset for 1½ years. Because of part-time jobs and the six years I worked in the civilian sector, I was eligible for Social Security. I retired after 31½ years of CSRS and the necessary quarters for SS. When SS sent projections before I turned 62, it indicated I would receive about $700 a month…
Q. I am a 64-year-old with the Defense Department and have FERS retirement. My service computation date is Feb. 4, 2004. I am planning on retiring within the next year and want to know if my retirement, which I will get for the last 10 years under FERS, will be deducted from my Social Security, for which I have more than 40 credits? I was under the impression that CSRS employees were the ones who had the offset and FERS did not. Am I correct? A. Since your only federal service is under FERS, you won’t be subject to the…
Q. I retired in 2002 with 32 years of service and receiving a CSRS annuity. I am 65 and do not have the required 40 quarters to collect Social Security. My retirement annuity is being reduced for “full surviving spouse’s annuity.” Will my wife, who is 61 and plans to draw Social Security next year (over $600 a month), be able to draw her full Social Security and the CSRS survivor annuity even though I was not eligible for Social Security, if I pass away before her? A. Yes, she would be able to receive both with no reduction in either…
Q. I have 40 quarters of private-sector experience to qualify for Social Security. I will be 61 years old in October. I want to start collecting my Social Security at age 62. I am in CSRS. I had 30 years on June 3. Will I be able to get my full benefit of Social Security at age 62 and still work in my federal job? Also, I have had problems figuring out how much I will eventually get from Social Security when I retire due to the windfall elimination provision. I have all of my earning statements from the Social…