Q. I am a retired federal worker who worked from 1972 to 1987 under CSRS then transferred to FERS in 1987. I left the federal government in 1995 with enough quarters to qualify for Social Security but with much less than 30 years of substantial earnings. In 2010, at age 60, I began getting my government annuity, part based on CSRS and part on FERS. This year at age 62, I am eligible to receive Social Security benefits. As I understand it, FERS transfers are not affected by the offset program but are affected by the windfall elimination provision. How…
Browsing: substantial earnings
Q. Three questions regarding CSRS retirement: 1. I read that in 2010 and 2011, there was a six- to 12-month delay before retiring employees actually receive their full pension. I’m not sure if a partial pension was received in the meantime and how much. Is this still true for employees retiring in 2012? I am under CSRS and planning on retiring the end of July or early August. I understand it’s best for me to retire at the end of a month or within the first three days of a month to receive my pension check the following month. I…
Q. I have civil service retirement with the Postal Service. I have been informed that if I do not pay back the Social Security I did not need to pay when I was in my five years of military service, then once I am eligible for Social Security, the payback will start being deducted from that. I thought once that withdrawal started, it would not stop, even after it was paid up. Is this true? And if I pay it back in full now, my Social Security will not be touched for that at all. Is that correct? I am…
Q. I started my career in the federal government in April 1980. I am 57 years old. I have over 32 years of service and am eligible to retire. Prior to beginning my career as a public servant, I worked a number of jobs and had already earned my 40 quarters for Social Security. Am I subject to the CSRS Social Security Offset? A. Since you are a CSRS and not a CSRS Offset employee, your annuity will not be affected at age 62 by any Social Security benefit to which you may be entitled. However, because you will be…
Q. My substantial Social Security earning has been due to serving 38 years as a senior military reservist. I will have 34 years under CSRS in January 2013. However, 25 years were under CSRS before a three-year break in service. I came back as an offset employee in 2006. How will my Social Security be calculated in comparison to my retirement check? Will I still receive my full CSRS retirement check based on my high-3 and the full Social Security check since I meet the substantial rule with the years? How will this all play out? I will be 63 this month.…
Q. I am a federal employee under FERS. I was a police officer for 21 years (I receive a pension) and did not pay into Social Security, except for a few years when I worked part-time jobs and made the “substantial earnings limit.” I was hired as a federal worker in 1995 and have 22 years of “substantial earnings” toward Social Security. I am now 64 and planning to retire, except I can’t figure out how much, if any, I will receive in Social Security. I went to a FERS retirement conference last summer, and it was my understanding that the maximum reduction from…
Q. I retired in August of 2010. I was immediately employed but did not make anywhere near $14,640 that year. In 2011, I made $17,540. That was $2,900 over the amount to qualify for substantial earnings. Is there a form I can fill out to report this and then make the payback of the $1,450 I owe? A. While the Annuity Supplement Earnings Report form hasn’t been updated for reporting excess earnings in 2011, you can see the 2010 version — and update it yourself with a pen — by going to www.opm.gov/Forms/pdf_fill/RI92-022.pdf. Note: The earnings limit in 2011 was the same as it was in…
Q. I will be 62 in September with about 36 years of federal employment under CSRS. I know that I meet the criteria for normal retirement, but I have a question on Social Security quarters. I have been working part time before and during my federal career. I have checked my required quarters and found that I have enough to receive Social Security. Do the quarters count as the number of years (30) that qualify you for Social Security? Is there any other way to count the 30 years of employment? A. To be eligible for a Social Security benefit, you…
Q. My wife and I are both CSRS annuitants. I retired in October 1986 and am receiving both CSRS and Social Security benefits because I had significant years worked in the private sector. When I retired, I elected a reduced CSRS annuity to leave 55 percent of my annuity to my spouse in the event of my death. My wife is not eligible to receive Social Security because she retired after 1986. Will my wife be eligible to receive my Social Security benefits as a surviving spouse? A. First, let me correct a misunderstanding. If your wife accumulated at least 40…
Q. I retired on a Voluntary Separation Incentive Program after 27½ years of service. I worked 19 years under CSRS Offset. I’m working in the private sector now and continue paying into Social Security. When I turn 62, even if I’m still working, will an adjustment be made to my annuity for the amount of my Social Security benefit at that point? And what can I expect if I continue to work to my full retirement age for Social Security, which is 66? By then, I’ll have 28 years that I’ve paid into Social Security. I don’t necessarily want to retire at 62. A.…