Q. I have not received a 1099 for a federal retirement yet for 2012. What number or website can I contact to receive a duplicate copy? A. Call the Office of Personnel Management at 888-767-6738 or 724-794-2005 and talk to one of its benefits specialists.
Browsing: taxes
Q. I am reading in a Blue Cross/Blue Shield brochure that you have to be a federal employee as of Jan. 1, 1983, to get free Medicare Part A. I joined in March 1983 and do not have Social Security eligibility. Will I get Part A for free or not? What is the significance of Jan. 1, 1983? A. Here’s the scoop from the Social Security Administration: “Federal employees are required to contribute to the Medicare Trust Fund and are therefore eligible for Medicare. This provision is referred to as the Medicare Qualified Government Employees (MQGE) provision. “All wages paid…
Q. My wife has a disability retirement from the Postal Service. She is deemed permanently and totally disabled by the Social Security Administration and receives the SSA disability benefit. She also receives a FERS disability annuity benefit. Is the FERS disability annuity federally taxable? If not, can you direct me to the IRS document that outlines how to file? A. It is taxable unless the Internal Revenue Service determines that she is totally disabled. You can call them at 1-800-829-4933.
Q. I retired after more than 30 years of service (FERS) and started receiving the special retirement supplement and my annuity as expected. I went to work and exceeded the earnings test so SRS went away. I will be out of my job shortly and would like to receive SRS again until I am eligible for full payments when I turn 62 in February 2014. I am assuming I can start this up again. Yes? What would the effective date be (date unemployed, one month later, etc.)? I also expect that if it starts again, it would not fall under…
Q. I’m planning to retire under CSRS Offset in December. Is local, state and federal tax the only tax I will have to pay? No Social Security or Medicare? A. Social Security and Medicare taxes are only deducted from earnings from wages or self-employment, not other sources of income, such as annuities.
Q. I am retired under CSRS, and have more than 40 credits of Social Security accrued. I am almost 62, and want to apply for Social Security benefits. How much will the windfall elimination provision hit me for? I spoke to several other CSRS retirees, and only a few said they took a 60 percent reduction, while some took no reduction. I can’t figure why each case appears to take a different amount off due to WEP. A. Anyone who receives an annuity in whole or part from a retirement system where he didn’t pay Social Security taxes is subject…
Q. I am a recently retired CSRS employee. I note a huge inequity concerning my CSRS retirement contributions from the federal retirement benefits booklet the Office of Personnel Management sent me. I am told that I have a retirement contribution credit of $164,836 after-tax dollars. From this amount, I will get 310 equal monthly payments of $531.73 that will be a tax-exempt portion of my total monthly annuity. However, I am told once I receive gross monthly retirement benefits that exceed my contributions (tax exempt and taxed portion), there are no more contribution credits in my account, and no lump-sum…
Q. Are my CSRS retirement annuities subject to Social Security and Medicare tax if I retire at age 58 with 37 years of service? A. No. Social Security and Medicare taxes are only taken from earnings from wages or self-employment, not annuities.
Q. I am a retired Postal Service employee under CSRS. I am 66 and have been collecting Social Security since turning 62. My Social Security benefit was reduced by taking benefits at 62 and by the windfall elimination provision. My CSRS annuity was also reduced because I opted for the CSRS survivor benefit. However, I am nine years older than my wife, who is 57 and intends to work until she can begin her early retirement at 62. 1. If my wife and I continue to file our taxes as “Married – jointly” and I suspend my Social Security benefits…
Q. I am a 57-year-old federal employee with 11 years creditable service under FERS. Earlier in life, I became disabled as a result of a line-of-service duty incident after 15 years as a California law enforcement officer. I receive a lifetime industrial disability retirement (tax-free) from the California Public Employees’ Retirement System. I intend on retiring in five years, at 62½. Will I be subject to the windfall elimination provision due to my law enforcement employment outside of the Social Security system? Does my disability retirement play any role in reducing my Social Security entitlement? By my calculations, I will…