Browsing: SOCIAL SECURITY

Q. I plan to retire under CSRS offset well before I turn 62. I know at 62 my retirement will be recalculated and my annuity check will be split between OPM and the Social Security Administration. When I turn 62 and start receiving my retirement pay from both OPM and the SSA, am I bound by the earning limits set by Social Security (currently $15,480.00 annually)? A. Yes, you are bound by the Social Security earnings limit. That limit applies to anyone who is under full Social Security retirement age and has earnings from wages or self employment that exceed…

Q. I am 53 years  and eight months old, I have 28 years and eight months civil service. I am in FERS. My agency is offering the VERA/VSIP. If I submit an application and I am accepted for either of these would this affect my Social Security supplement? My MRA is 56. Does the MRA change with the VERA/VSIP? A. No, your MRA doesn’t change nor does the amount of the SRS you’re entitled to. They remain the same.

Q. My husband (age 56) and I (age 53) are reaching the time when we are considering retirement and want to clarify a few things. I am covered under CSRS with 33 years of service. I have worked other jobs but I do not have enough credits to be eligible for Social Security. He is National Guard and will retire with over 30 years of service. He is also a government technician covered under FERS and will be eligible for Social Security. We are both retiring with survivor benefits. I know my husband’s Social Security would offset my CSRS. Will…

Q. You recently answered a question regarding the maximum earning amount for 2014 is $15,480 before the Social Security benefit would be reduced. Does the SSA consider military retirement, VA disability pay, along with TSP disbursements as “earnings”? A. Those aren’t earnings. Earnings are income received from wages or self employment.

Q. I am 60 and retired three years ago under CSRS with the post office. Will my annuity be reduced if I do not claim Social Security benefits at 62? I want to wait until I am 65 to claim Social Security. I worked nine years under Social Security when I was younger. A. Because you retired under CSRS – not CSRS Offset – your CSRS annuity will never be reduced. If you are eligible for a Social Security benefit, the fact that you retired from a retirement system where you didn’t pay Social Security taxes means that your Social…

Q. I am 64 and I am unmarried with a CSRS retirement with no survivor benefits designated. My 62-year-old future wife will begin receiving her Social Security benefits in September. I am not qualified to receive any Social Security benefits although I have paid in for 36 quarters. Will her Social Security benefits be affected by my income after we marry? A. No, they won’t.

Q. I am a retired federal employee with CSRS. I also receive minimum Social Security payments based on my qualified earnings. My husband is a retired federal employee, FERS. In the event he passes before me, will I be able to collect/draw any of his Social Security? A. Probably not because that benefit would be subject to the government pension offset provision. For more information about the GPO go to http://ssa.gov/pubs/EN-05-10007.pdf.

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?

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?

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…

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