Q. I will be retiring in 2011 with 38 years CSRS from the post office. My wife will be retiring in a couple of years but most of her retirement would be Social Security. How would the windfall elimination affect us? Even if we filed separately? A. The windfall elimination provision applies only to the Social Security benefit of someone who is receiving an annuity — in whole or part — from a retirement system, such as CSRS, where he didn’t pay Social Security taxes. If you will be entitled to a Social Security benefit based on your own work record,…
Browsing: WEP
Q: I am 58 years old and a CSRS employee with 33 years of service. During the past 30 years I have paid and accumulated 14 years of “substantial” earning under to Social Security. If I am still working when I am 62, can I apply for Social Security benefits without the WEP decreasing my payments? Is it correct that WEP only takes effect once the individual retires from federal service? A: While the windfall elimination provision doesn’t apply until you retire, if you apply for a Social Security benefit at age 62, you will be subject to the Social…
Q: Most questions about WEP have centered around federal employees retiring under CSRS. I am a federal employee with 11 years of service under FERS. As a result, I have paid Social Security on my previously earned income. If I leave federal service now, I should get an annuity of 1 percent of the high-three, times the number of years of service. Figure about $11,000 per year. I am considering accepting a job with the United Nations in Europe. Based on the literature, the United Nations income is paid on a “net basis” with the “gross-net” differential going toward funding…
Q: I began working for the federal government in 1966, and in October 1972 I was no longer able to work and began receiving a CSRS disability annuity. At the time I was married, but that marriage ended in 1990. In 2000 I remarried at age 53. I never applied for Social Security disability. I worked and paid into Social Security for a few years, but because I was disabled, my earnings were extremely low. At my full retirement age of 66 my Social Security benefit would only be $257, and less than that if I applied for my benefit…
Q: My husband and I are planning to retire from federal service the end of this year. I have 32 years under the CSRS and my husband is retiring under CSRS-Offset with 30 years of service. I have had no health issues so we have taken out additional life insurance on me to supplement him should I predecease him. However, he has had a number of recent illnesses causing life insurance to be more costly. Therefore, he plans to elect full survivor benefit for me. Can you please explain what impact the WEP and GPO will have on me drawing…
Q: I am a federal employee and I am also receiving Social Security benefits. I understand that when I retire and start receiving my civil service annuity, my monthly Social Security benefits will be recalculated because of the windfall elimination provision. At the time I started receiving Social Security, my number of years of substantial earnings for WEP purposes was 23. Because I am a Federal Employees Retirement System transferee, my current salary is subject to FICA. Will the years subsequent to the initial receipt of Social Security will be added to my 23 years? In other words, if I…
Q: I have 33 years under the Civil Service Retirement System. Prior to that, I was with a private company and completed 32 quarters under Social Security. I will be 70 years old in June. My separation notice under the Base Closure and Realignment Act will be issued in June, and I will have to leave my job by Sept. 15. What are my best options to qualify for Social Security (40 quarters)? I understand there will be offset payments. Should I continue work two more years, finding another job after Sept. 15, and forget Social Security? A: You can…
Q: After reading all the horror stories about the windfall elimination provision and Social Security demanding payback of erroneous payments, I’m writing to verify my Civil Service Retirement System Offset and WEP reductions. I have 22 years of CSRS service, from 1973 to 1995, put in 13-plus years of nonfederal work, and then was re-employed with the federal government as a CSRS Offset employee in 2008. I plan to retire at 62 with 27 years, 8 months of federal service, with about five years of that under CSRS offset. My personnel office says that I am not subject to the…
Q: I am 65 years old and will be 66 in January. I am contemplating retirement from the federal government. I worked in the private sector for more than 20 years and switched over to the government in 1985. I am under the Civil Service Retirement system. I was informed by a co-worker that my Social Security benefits, which I am counting on heavily to support my family, will be reduced substantially because I am under CSRS. Is this true? A: Your Social Security benefit would only be affected if you have fewer than 30 years of Social Security-covered employment.…
Q. I retired under CSRS at age 62. I do not qualify for Social Security benefits. My spouse retired at age 62 and collects Social Security. She never worked for the government and collects no other pension. When I die, and she starts collecting a CSRS survivor annuity, will she be affected by WEP? A. No.