Browsing: SOCIAL SECURITY

Social Security reduction

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Q. I’ve read about the Social Security reduction if your income is above a certain amount. Does the calculation for that amount include the FERS pension and TSP annuity payments? In other words, does the SSA consider my pension and TSP payout to be “income” they will reduce against? Or is the reduction only against “wages” from actual employment income after you reach SSA retirement age?

Social Security credits

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Q. I am a CSRS employee who will retire at the end of 2014. I have 36 quarters of work covered under Social Security  before I started federal service and I am trying to decide whether or not to try to get four more quarters of coverage after I retire. I understand the WEP provision. I was told at a retirement seminar that Social Security quarters do not count if earned before the age of 22 or after the age of 62. Is this true?

Social Security payment

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Q. I am a 23-year retired military veteran (1968-1991), 30 percent disabled, and I have been receiving military retainer pay since 1991. I then began working for the Veterans Administration as an engineer GS-09 in June 1998, and I am still employed (FERS). But I can retire soon with 16 years civil service gaining a monthly retirement pension from VA and too what I have deposited into TSP. When I retire at 66, which would be next year, what will my Social Security benefit be? I have been told it will be reduced because I have two ‘pensions’ (one from…

Retirement options

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Q. I am a GS-1811 Special Agent with four years until my FERS retirement in 2018 at age 62 (I was “grandfathered in” at age 42). And I have also bought back 12 years of military service time. I failed a PIP due to my ADD/ADHD & depression, and I was recently served with a Notice of Proposed Removal as an 1811. I am in a 3-agent office, four hours away from our Resident Office, and there are no non-1811 jobs available to me in my office’s area. Because I am considered disabled per the ADA guidelines, and the NOPR…

Social Security and pension reduction

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Q. In 2009, I took the postal clerk buyout and retired. I am under CSRS with 32 years with 2 years of military Service included. When military buyback was offered some 25 years ago, I passed. In 2009, the same buyback was almost $10,000 so I passed on that. I am working and will have 37 credits of eligibility toward Social Security at the end of this year. If I continue and become Social Security eligible, how much of my monthly pension will I lose? A. If you become eligible for a Social Security benefit, you won’t lose a penny…

COLA, FERS increase

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Q. When I retire (I will be at my MRA and 31-1/2 years on Dec. 31, 2015) and start receiving the Social Security FERS Supplement, and I start my retirement for 2016, do I receive the Social Security COLA and the FERS percentage increase each year? A. Neither your annuity nor your special retirement aupplement would be increased by COLAs. Your annuity would first be increased by COLAs when you reach age 62. At age 62 your SRS would end and you’d be eligible for a Social Security benefit.

Work after retirement

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Q. I am 62 and would like to retire and receive my Social Security. What is the most I can earn per week without my benefit being cut? A. In 2014 the earnings limit is $15,480. Your Social Security benefit would be reduced by $2 for every $3 you earn above that limit.

Special retirement supplement and Social Security

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Q. I am looking at retiring next year in FERS as a federal firefighter with 30 years of service at age 53. I will receive the special retirement supplement. Until I turn 62, I will not be (possibly) paying into Social Security, so does that reduce the amount of Social Security I will receive according to my current projected Social Security payments at age 62? If I’m not paying into Social Security during the period before drawing Social Security affects the rate, does that change at age 57 when the earning limitations for Social Security hit even though you are…

CSRS and Social Security

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Q. I work for the federal government and have 31 years in CSRS. I was born in 1959. I am eligible to retire in August 2014 and will be 55. I also worked in the private sector before becoming a federal employee. I am four credits short of receiving Social Security. If I earn four more credits after I retire, how much will I receive and how much will my CSRS retirement be decreased? If I could receive Social Security, would it be better to keep working under CSRS/ Social Security? Which would be greater? Should I just work longer…

CSRS, Social Security and military service

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Q. I just retired from the federal government Dec. 28 under CSRS at age 66. My service comp date is March 3, 1975. Now I am told I have only 31 years in federal service because they are not counting my six years on active duty with the Army. They say it’s because I’m eligible for a Social Security benefit, and I’m receiving one. I thought they went by the service computation date. If I am required to buy back my military time, of six years, to get a larger monthly annuity, can I still do that? How much will…

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