Q: I am a Federal Employees Retirement System employee. I’m planning to retire in 2011 with 12 years of service at the age of 60 years, 4 months. I would like to know if I am eligible for a special supplement from Social Security. Also, am I subject to a penalty of five percent? A: No, you won’t be eligible for the special retirement supplement. No one who retires under the Minimum Retirement Age+10 provision is eligible for the SRS. Yes, your annuity will be reduced by five percent for every year (5/12 percent per month) that you are under…
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Q: I retired from the Army after 24 years, then went to work for the Postal Service for 24 years before I retired from there. After retirement, I put in for disability from the Army, and was awarded 20 percent. They take this 20 percent out of my pay and give me another check for the 20 percent that they took out, which is tax-free. My question is, should I also be getting that 20 percent from my Postal Service retirement check? And what about 20 percent from Social Security? A: No and no. You didn’t retire on disability from…
Q: I worked for the Postal Service for 15 years and resigned, but came back to work for them 13 months later. The year I came back, they were switching over to the Federal Employees Retirement System but I had the choice of FERS or the Civil Service Offset. I chose the offset and retired in 2003 with 35 years of service. I just turned 62, and I applied for Social Security and was told that my check will be adjusted from $865 down to $575 a month because I’m receiving a $2,500 Civil Service Offset annuity. Does this mean…
Q: I am retired from 24 years of active-duty military service. I also receive Concurrent Retirement Disability Pay from the VA. If I work as a GS employee for five years, I understand that makes me eligible for a small Federal Employees Retirement System pension at age 62. At age 62, would I be eligible for my military pension, CRDP, FERS pension and Social Security? Would there be any offset to any of the payments? A: We are only qualified to answer questions dealing with federal civilian benefits. That said, after as few as five years of creditable civilian service,…
Q: My husband has contributed $60,370 to the Civil Service Retirement Fund. He was employed by the Postal Service from Jan. 26, 1980, to Dec. 19, 2007. After writing to the Office of Personnel Management for a possible refund, we were informed he’s eligible for deferred annuity at age 62. This year, he will be 57 years old. He will not be seeking another federal job. We don’t know if we should just ask for a refund and roll it over into an IRA or just wait for his deferred annuity when he’s 62 in 2015. Can you tell me…
Q: My question is regarding Social Security supplements. I am a 50-year-old law enforcement officer who has met my 20 years of civilian government service. I know that when I am eligible to apply for Social Security benefits, I will be asked for proof of my military service (via DD 214). I am being told that if I give Social Security proof of my service at retirement time, I will get extra on my Social Security supplement in the meantime. Is there any truth to that? A: No. The special retirement supplement is based solely on a retiree’s total years…
Q. What is the “special retirement supplement benefit?” If you cannot explain it completely & concisely, where I can find everything there is to know on this subject? A. The special retirement supplement (SRS) is paid to FERS employees who have reached their minimum retirement age (MRA) and retired on an immediate annuity. It approximates the amount of Social Security benefit they earned while employed under FERS. It is paid out of the Civil Service Retirement and Disability Fund until age 62, when they become eligible for a Social Security benefit. The SRS can be reduced or suspended if a…
Q. I am a FERS employee, age 51 with 12 years civilian service. I have never been in the military. I currently receive from PERS my late husband’s nontaxable disability retirement. When I do retire, will this affect my FERS and/or Social Security? Does this count against me? Can I have PERS, FERS, Social Security and TSP annuity in retirement? A. I can tell you that you will be entitled to the FERS annuity you earned, any Social Security benefit based on your own record, and your TSP account, without any modification. What I don’t know is if any of…
Q. I am a federal CSRS retiree and my 2010 monthly Medicare deduction increased from $96.40 to $110.50. My husband is a Social Security retiree only and his Medicare deduction remained the same for 2010 as was withheld in 2009, which was $96.40. In trying to find an answer to this disparity, one Web site tells me: “If you make less than $85,000.00 per year, it will be $96.40 per month. If you make more per year, see the link below for those amounts:” Since my gross monthly annuity is $3514.00 (annual total annuity of $42,168.00), is far less from…
Q. I am currently receiving a CSRS pension of $3000 a month. My spouse will not receive CSRS Survivors Benefit when I die. I have over 40 quarters of Social Security contributions. Will my spouse be eligible to receive Social Security Survivor benefits when I die? A. Yes