Q. I retired at 60 under the CSRS Offset program 18 months ago which, I think, I understand fairly well. Still: At 62 (this summer), I understand my CSRS amount will be reduced by my Social Security benefits amount. I want to confirm that the total I will receive will be substantially the same. But also, will my bank then begin receiving two deposits? Or does OPM somehow intervene so that there is but one monthly payment? Also, while I worked under the CSRS Offset program for 25 or so years (six under pure CSRS), what about the Social Security…
Browsing: windfall elimination provision
Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”,”serif”;} Q. I served 5 years, 8 months, in the military, then 30 years in the Post Office. I had roughly 6 months of sick leave to use, so 37 years total. Military time was repaid prior to VERA in June 2011. My Social Security statement is 38 credits as of 2012. My VERA incentive was calculated under Social Security. If I become employed before I’m 62, how will my…
Q. I work for the federal government and have 31 years in CSRS. I was born in 1959. I am eligible to retire in August 2014 and will be 55. I also worked in the private sector before becoming a federal employee. I am four credits short of receiving Social Security. If I earn four more credits after I retire, how much will I receive and how much will my CSRS retirement be decreased? If I could receive Social Security, would it be better to keep working under CSRS/ Social Security? Which would be greater? Should I just work longer…
Q. I just retired from the federal government Dec. 28 under CSRS at age 66. My service comp date is March 3, 1975. Now I am told I have only 31 years in federal service because they are not counting my six years on active duty with the Army. They say it’s because I’m eligible for a Social Security benefit, and I’m receiving one. I thought they went by the service computation date. If I am required to buy back my military time, of six years, to get a larger monthly annuity, can I still do that? How much will…
Q. I worked and completed my 40 quarters for Social Security before I started working for the federal government (CSRS). Will I have to take a reduction too? Secondly, I am retired now from CSRS, and we have Blue Cross Blue Shield health insurance. Thirdly, I start drawing my military retirement starting in July, and we are eligible for Tricare. My second question: Should we switch to Tricare Standard and suspend our BCBS? It would be about a $450-a-month raise (the $450 is what we pay per month for the BCBS).
Q. I have been a federal employee with the Department of Veterans Affairs covered by CSRS since October 1977 and have four years of military service (I paid the military deposit in full). I am 75 and have started receiving Social Security. I will be retiring in about one year and eight months, having reached 41 years and 10 months years of service, including military service, hoping to have earned or reached the 80 percent retirement annuity. I am at the top level of my GS-12 grade step 10. What will my civil service and Social Security benefits be? Or,…
Q. I have two questions about the Reg Jones article in the Feb. 18 Federal Times issue, titled “2013 brings changes to Medicare, survivor benefits” (Page 22). 1) Under death benefits, it says, “under CSRS, if you die while still employed, your widow will be entitled to a survivor annuity.” When I retired in 1995, I signed an agreement to take a reduction in my annuity so that when I die, my wife will get a percent of my annuity. Please explain what is wrong with one of these two statements. 2) Under the same topic, he says, “the spouse…
Q. I lived and worked in Canada, earning income from 1969 through 1994. I am a U.S. citizen, but my father was transferred to Canada when I was very young, and we became naturalized Canadians. I moved to the U.S. in 1994 and began earning income. I retired Jan. 31, 2013, and went to the local Social Security Office to apply for early benefits (I will be 62 this summer). I understand the reduction because I am taking early benefits; however, I was told that my benefit would be reduced if I was also going to take Canada pension. I…
Q. The Windfall Elimination Provision states: “The only work you did where you did not pay Social Security taxes was before 1957, or you have 30 or more years of substantial earnings under Social Security.” Are these statements separate or combined? What does the year have to do with it? What is the formula for calculating substantial earnings? Take into consideration that at the time, single mothers with three dependents did not earn “substantial earnings.” By the way, how much is substantial? It seems to me that the date I began work eliminates the windfall, along with my almost 30…
Q. I retired in 2001 from the FAA under CSRS. I have 33 quarters of Social Security. If I go back to work and earn an additional seven quarters and apply for Social Security benefits, will that same amount of money be subtracted from my annuity?