Q. I will be 62 this year and I am already on my CSRS retirement from the Postal Service. I have also qualified for Social Security. Can I draw from both, or will one be lessened? A. Because you were a CSRS employee, your Social Security benefit will be subject to the windfall elimination provision. The WEP reduces the Social Security benefit of anyone who receives an annuity from a retirement system where he didn’t pay Social Security taxes and has fewer than 30 years of substantial earnings under Social Security.
Browsing: windfall elimination provision
Q. I am a CSRS Offset GS14/10 employee who left Veterans Affairs Department employment in 1985 after 11+ years and returned to VA employment in 1991. I will be 66 years old in July and am considering retiring Jan. 3, 2014. At that point, I will have 24 years of offset employment, 30 years of Social Security contributions (including the 24 offset years) and 37 years of service (including sick leave). My wife is in a similar CSRS Offset situation and is also considering retirement Jan. 3, 2014, at age 61. She will not take Social Security benefits until age…
Q. I will be retiring with 33 years under CSRS on April 3. I am 61 years of age and will be able to collect a small Social Security amount at age 62 (July 14). I have enough quarters in Social Security from working in the private sector before I joined the federal government. I am scheduled to receive $529 at age 62. How much will I receive from Social Security? I am told that I will not receive the full $529. I make about $62,000 a year, since I am a GS-9 Step 10. I understand that there is…
Q. I have 38 years under CSRS and have not paid back my four years of military service. I am 63 years old and am thinking about retiring this year. I have 40 quarters under Social Security. When I retire, am I eligible for a partial Social Security annuity, along with my federal retirement pension? A. You’ll get full credit for your active-duty service in determining your length of service. However, when you reach age 62, your annuity will be recomputed without those four years, which will reduce your annuity. While you’ll be eligible for a Social Security benefit, it…
Q. I am receiving Social Security reduced by the windfall elimination provision. I am collecting Canada Pension Plan for 10 years of employment with no Social Security for that time. I am continuing to work at age 70 and plan to continue doing so. At the end of this year, I will have 30 years of substantial Social Security earnings. Will they then do a recalculation and give me back the windfall amount, or am I stuck with the deduction forever? A. No, they won’t. What you got is what you get.
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 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 fully covered under the Social Security Act (48 quarters of coverage). I also am covered with 33 years of postal service under CSRS and am 62. Can I get my Social Security benefits? I keep hearing that my CSRS benefit will be offset. Then I have heard that I am entitled to my full CSRS pension and only 40 percent Social Security benefits. What is correct? A. The latter is closer to the truth. Because you’ll be receiving an annuity from retirement system where you didn’t pay Social Security taxes, your Social Security benefit will be subject…
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…
Q. I worked four years under CSRS and drew the retirement funds out and did not pay them back. When I was reinstated, it was under the CSRS Offset. I retired and drew the CSRS Offset but did not apply for my Social Security benefits until I reached age 66 in October. I just got notified by Social Security that I would be subject to the windfall elimination provision from my Social Security check. Is this correct? I have 29 years and three months of substantial earnings, according to their table for substantial earnings. Actually, for these years, I far…