Q: I’m a postal service employee and plan to retire next year, Are retirees entitled to cost-of-living adjustments?
Browsing: CSRS annuity computation
Did you work under either Civil Service Retirement System or Federal Employees Retirement System, leave government, withdraw your retirement contributions, and then come back to work for the government? If you did, when you retire your annuity will be reduced unless you redeposit that money, plus accrued interest. Should you make that redeposit or not? I’ll help you find the answer that fits your situation by explaining who is eligible for an actuarial reduction and how to find out whether that reduction is a better deal than making a redeposit. First, let me spell out the redeposit rules. CSRS and…
Q. My husband died suddenly. He had been away from work because of an illness for three weeks. Had he lived, which we expected, he would have gone on disability like his doctor recommended. He did not apply for that as his death came so suddenly — a week after he was told this. I am receiving a CSRS survivor benefit from his pension. However, if he had received it, it would be double. If he paid in all those years (37 at the U.S. Postal Service and three in the military), shouldn’t they be paying all of it out? Do they just get to keep half of…
Q. My CSRS is $60,000. My wife receives $15,000 in Social Security. If she dies, would I receive $5,000 in Social Security benefits?
Q. I am currently covered by CSRS, I plan on working until 67. I know at 66 I can receive social security based on jobs held prior to government employment and second jobs worked while with the government. Does the offset apply only once I retire or once I claim SS benefits? A friend of mine told me he was collecting full social security while still working for the government. He was 68 at the time. Once he retired, he told me the offset applied. Is this correct?
Q. I retired from the Federal Aviation Administration in January 2013 (after 33½ years) and began receiving my CSRS annuity. I am considering returning to the FAA in an executive level position. How will my annuity payments be impacted, if at all? Will I pay into Social Security or FERS?
Q. I didn’t do my buyback for my military time of five years from 1975 to 1980. I don’t have enough quarters for a Social Security benefit, and I have a CSRS retirement of 35 years from the USPS. Do I still have to buy back my military time to receive that time served for military in relation to CSRS retirement alone?
Q. I have 34 years of government service. I was hired by the postal service as a FERS employee in 1990 and was converted to CSRS Offset in 2012. I am retired and plan on collecting my Social Security benefits this year, at age 62. How much will my civil service pension be reduced if my Social Security benefits are $1700 per month at age 62 and I received an annuity estimate of $3300 per month?
Q. I have approximately 39 years of service/contributions to the CSRS pension plan, and high-3 is approximately $95,000. What is the approximate net worth of the plan? From articles I have read, calculating this can be difficult, as there are too many variables to consider. My retirement estimate given current deductions is $3650 per month.
Q. I am 56 years old and currently working as a Civil Service Retirement System (CSRS) employee. Though my civil service began nearly three decades ago, I am a grey area Army Reservist retiree. I have 24 years of service with 2 periods of Active Duty service with DD 214s for both. I have not bought any of my military time back, which is why my service computation date got pushed back by four years. I see my estimated buy back for the first period of active duty, but I’m not sure how to determine what the interest would be or how much…