Browsing: CSRS annuity computation

Q. I’m a CSRS employee with 41 years and 10 months of service. Is there a maximum annuity calculation? Is it based on my high-3 during that final three years or will it include the salaries of any years after that? A. Your high-3 will be based on your highest three consecutive years of basic pay whenever they occur in your career. If you work for 41 years and 10 months, you’ll be entitled to the maximum earned annuity, which is 80 percent of your high-3. While retirement contributions will continue to be taken from your pay, when you retire…

Q. I retired from the Civil Service Retirement System in 2012, and was divorced at the time. My ex-wife won’t receive a survivor annuity based on my divorce decree. I am going to get remarried this summer and will elect full survivor annuity for my new wife. I know my monthly annuity will be reduced, but I want to know if the reduction would be the same as if I had been married all these years, or will there be an additional amount deducted to make up for the years since I retired? A. If you marry and elect to…

Q. I’m a 60-year-old CSRS employee with 38 years of service. I plan on working another few years. If I die before I retire, will my wife automatically receive a full survivor annuity? I plan on selecting a full survivor annuity when I do retire, but wonder what would happen if I die before that. A. If you die before retiring, your widow would automatically receive a full survivor annuity. The only exception to this rule is if there is a court order for a former spouse that would result in part or all of that benefit going to him…

Q. Is there a maximum annuity calculation for CSRS? Is the calculation of the “Average High-3 Salary” based only on the salaries during your first 41 years, 11 months of service, or will it be calculated include the salaries of the years after that period? A. Your high-3 will be based on your highest three consecutive years of basic pay whenever they occur in your career.

Q. I am eligible to retire under CSRS with what is currently 37 years of service (SCD JUL 1982). I am still working and plan to for a couple of more years. However, I became eligible for full Social Security January 2019, for work employed outside of CSRS. Would my CSRS pension (when I retire) be reduced by this amount if I were to sign up for it or is it the Social Security amount that will be reduced or eliminated? A. If you have reached the age when you are eligible for a full Social Security benefit (between 65…

Q. Individuals covered under CSRS pay CSRS employee deductions, and are excluded from Old Age, Survivors and Disability Insurance taxes of Social Security. They may contribute up to the Internal Revenue Service elective deferral limit each year to the Thrift Savings Plan (TSP), but CSRS employees who contribute do not receive any government contribution. There are so many references in Office of Personnel Management materials, congressional papers and Treasury manuals that prohibited those working under this system from paying into Social Security, how can Congress and Social Security turn around and penalize survivors whose spouses paid into Social Security? Why…

Q. I chose an insurable interest annuity when I retired in 1998. I have since separated (never married this individual) and I just found out they have married. How can I stop this insurable interest annuity and will I be able to stop my deductions from my monthly retirement check? I was a Department of Defense CSRS employee.

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