CSRS retirement and Social Security

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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, how I can estimate the figure?

A. At 41 years and 11 months of service, you’d be entitled to 80 percent of your high-3. Your high-3 is based on your highest three consecutive years (78 pay periods) of average salary.

Because you are covered by CSRS, a retirement system where you didn’t pay Social Security taxes, you’ll be subject to the windfall elimination provision. The WEP will reduce any Social Security benefit you may be entitled to if you have fewer than 30 years of substantial earnings under Social Security. To learn more about the effect of the WEP, go to http://ssa.gov/pubs/media/EN-05-10045.pdf.

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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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