Q: My husband has contributed $60,370 to the Civil Service Retirement Fund. He was employed by the Postal Service from Jan. 26, 1980, to Dec. 19, 2007. After writing to the Office of Personnel Management for a possible refund, we were informed he’s eligible for deferred annuity at age 62. This year, he will be 57 years old. He will not be seeking another federal job. We don’t know if we should just ask for a refund and roll it over into an IRA or just wait for his deferred annuity when he’s 62 in 2015. Can you tell me…
Browsing: windfall elimination provision
Q: I plan to retire at age 63. I was in the Civil Service Retirement System for 11 years and did not take out my CSRS retirement contribution. I took a 14-year break. I re-entered the federal government under the Federal Employees Retirement System offset and was told that I should be in FERS. I agreed to be in FERS, as I wanted to be able to retire with a retirement system in place. I transferred to the FERS system and now have been in it for 13 years. I plan to retire in the next few years. Will I…
Q: My wife retired at the age of 58 with a Civil Service Retirement System annuity. If she has 40 quarters in the Social Security system before she is 62, will she be able to collect her Social Security at age 62 without a reduction in her CSRS annuity? A: If she was covered by CSRS alone, her CSRS annuity won’t be reduced. However, her Social Security benefit will be reduced through the workings of the Windfall Elimination Provision. The WEP reduces — but doesn’t eliminate — the Social Security benefit of anyone receiving an annuity from a retirement system…