Q. I started working for the government in 1976. I was under CSRS, quit and went back eight years later. I have paid Social Security since 1964. When I returned to the government, I was advised by the payroll person to go under FERS because I had more than 40 quarters in Social Security. If I have 30 years of substantial earnings, will my Social Security still be penalized? Where do I find the definition of substantial earning in a format I can understand? A. If you have 30 years of substantial earnings under Social Security, your Social Security benefit won’t…
Browsing: substantial earnings
Q: I switched from CSRS to FERS right at the end of 1987. I had six years under FERS. I would like to retire at the end of 2014 when I turn 62. I have two years of substantial earnings in the early ’80s. My question is whether years of substantial earnings that I earned before I was 21 count toward the 30 years of substantial earnings that I need to avoid any reduction? A: Years of substantial earnings under Social Security count no matter when, where or at what age they are earned.