Q. I am 66 years old and will be retiring from federal service (CSRS) at the end of this year. I have four years military time, however, that I have not paid back. I do not have 40 quarters of Social Security. My wife is currently on Social Security from her own earnings. Do I need to be concerned about paying back my military time (Catch 62) because of my wife’s earning? A. Because you are over age 62 and won’t be eligible for a Social Security benefit when you retire, the fact that you didn’t make a deposit for…
Browsing: SOCIAL SECURITY
Q. I served in the civil service from January 1977 to September 1997 (20½ years, plus seven months unused sick leave). I was in the CSRS and left my money in the CSRS when I resigned from federal service. I was earning about $81,000 as a GS14-09 (with the DC locality adjustment) when I resigned in ’97 and, by my calculations, I am entitled to receive a pension of about 38 percent of that, or roughly $28,000, when I turn 62 in three years. I also have paid into Social Security every quarter since fall 1997 and am entitled to…
Q. If I retire at 60 with 20 years of service, and receive the supplemental annuity until age 62, am I then obligated to receive my Social Security benefits at 62 or can I pick up filing for benefits when I reach age 66? A. The special annuity supplement ends at age 62. When you apply for a Social Security benefit is up to you.
Q. I am a postal worker age 60 with 26 1/2 years of service under FERS. I recently developed a health problem that I feel may keep me from returning to work. Can I apply for disability with the Postal Service and not with Social Security? Also, the formula states that the first year would be 60 percent of high-3 minus 100 percent of Social Security. What exactly does that mean? A. As a FERS employee, if you apply for disability retirement you have to apply for Social Security disability benefits; otherwise OPM won’t process your claim. If you are…
Q. I was injured on the job with the post office, and now I’m receiving workers’ compensation. Because on my injury, I will not return to work anytime soon. My questions is, I’m turning 65 this month and I’m thinking about applying for Social Security. Would this have an effect on either one as far as funds? A. Yes. If you receive workers’ compensation or other public disability benefits and Social Security disability benefits, the total amount of these benefits cannot exceed 80 percent of your average current earnings before you became disabled.
Q. For Federal Employees Retirement System employees, does taking the special retirement supplement (SRS) affect the monthly pension amount if I choose to not receive Social Security retirement benefits until age 70? For example, if I retire at age 60 with 25 years of service, if I receive the two years of SRS, will this affect the calculation on the monthly amount of Social Security retirement benefits to which I am entitled, either if I elect to wait versus beginning my Social Security pension at age 62? A. Although the special retirement supplement is based on data that comes from…
Q. My husband is a FERS retiree who receives a FERS annuity and a FERS annuity supplement (until Social Security benefits take effect) of approximately $1,000 per month. My husband is already on FEHB, so that is not a concern. I am a CSRS employee, planning for my CSRS retirement, so I need advice regarding the impact of leaving my husband a CSRS survivor annuity. If I leave my husband a reduced CSRS survivor annuity of $1,650 per month, and if he outlives me to receive it, will his Social Security benefit and/or FERS annuity supplement be reduced under the…
Q. If a person retires on Dec. 31, 2011, and starts drawing Social Security as of Jan. 1, 2012, at age 64, would there be an offset if the amount of the final payout exceeded the Social Security benefits for the year (2012)? A: Probably not, because of what the Social Security Administration calls “the first year rule.” That rule applies to earnings for one year, usually the first year of retirement. It allows SSA to pay a full Social Security check for any whole month in which it considers you to be retired and when your earnings from wages…
Q. My husband is 65 and started drawing Social Security benefits when he turned 64. I am 63 and would like to wait until I am at least 66 to retire. Can I draw benefits off my husband’s SS until I start drawing my own? A. To learn more about your options, go to www.socialsecurity.gov/retire2/applying6.htm.
Q. I worked in a federal job as a temporary employee from October 1979 to January 1987. I paid only Social Security since temporary employees were not allowed to participate in CSRS. I was hired as a career-conditional FERS employee in June 2010. I am looking to pay a deposit to get credit for my years of temporary service. Can any of that service give me a CSRS annuity component even though I never participated in CSRS? A. No.