Browsing: Earnings test

Q. I am a CSRS employee who started with the Postal Service in 1981. However, I worked in a supermarket before the USPS and worked for the union for the past six years. For both of those other jobs, I have paid and still am paying Social Security. I have heard the expression of “having enough quarters” for Social Security retirement. What does that mean, and how many quarters are needed?

Q. I work for the Bureau of Prisons and will be forced to retire in 22 months. I started my career just before I turned 37, so I will only get my 20 years of service in and that’s it. In the year or so prior to my hire date, the maximum starting age was raised, and I’m interested in whether there is any chance of it being raised again prior to my retirement.

Q. I recently received a letter from the Office of Personnel Management that I had gone over the 80 percent limit, and my FERS disability retirement was discontinued. OPM has quoted two different salary figures and different “earned income” in three letters that I received from them. Can you please help clarify as to how to calculate correct 80 percent limitation? Do you report net income under self-employment or gross? Does your earned income includes FERS retirement annuities?

Q. I am looking at retiring in September 2014 at age 57 years and five months. I will have 34 years in FERS and a little less than a year of sick leave to convert. I have $359,000 in my Thrift Savings Plan account. I am single, never married. What are my best options? I am located in an isolated area and am unable to attend any retirement seminars, especially now with the budget issues.

Q. I’m a CSRS Offset employee (58 years old) contemplating retirement in 2½ years with more than 41 years of service (plus over 1,400 hours of sick leave). Eight of the aforementioned years are active military. I plan to buy back those eight military years of service. Will buying those eight years of military service neutralize the reduction I face at age 62? I have also been employed for the past 13 years with a worldwide retailer and plan on continued employment with this retailer until age 62. Is it true that my CSRS service pension would not be affected…

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