Browsing: Earnings test

Q. My special retirement supplement was discontinued due to exceeding the Social Security income limit. I have not worked this year and should be eligible for the benefit to resume in January 2014 based on zero income in 2013. I don’t understand what will trigger the payments to resume. Are they tied to my income tax filing? Will I get a retroactive payment based on eligibility if they don’t resume until after January 2014?

Q. I am in FERS in a law enforcement officer position. I was born in 1970. I joined my agency when I was 30 (Feb. 1, 2001) so I am eligible to retire when I have 20 years of service and turn 50 (Feb. 1, 2021). The mandatory retirement age is 57. If I were to retire at age 50, can I receive the special retirement supplement then, or do I need to wait until I turn 57 (what would have been my mandatory retirement age). If I receive the supplement at any point prior to age 57, what is…

Q. I plan on retiring in 1½ years with 25 years as a federal law enforcement officer. I will be 48 and will receive the full special retirement supplement until I reach my minimum retirement age, which is 56 years and four months. After that, will my annuity affect the SRS? If so, how? In other words, will my annuity be calculated as earnings when it comes to the SRS?

Q. I am planning on retiring next year under FERS with 34 years at age 56 (my minimum retirement age). I understand that I could earn $14,460 without affecting the special retirement supplement. What is calculated into this $14,460 earnings limit? Are the FERS retirement payments included in this earnings limit? Are my wife’s wages included in this earnings limit? (She will still be working, and not retired.) Is income extracted from my Thrift Savings Plan account included in this earning limit? Are any annuity payments that I buy from my TSP included in this earnings limit? Are my IRA…

Q. I am a 59-year-old who retired from the federal government in 2011 after 25 years of service. I entered on duty at age 32 and retired under FERS Special. I received a notice from the Office of Personnel Management that my supplemental annuity will now be decreased since I earned more than $14,500 last year. Someone told me that this shouldn’t be reduced since I’m not yet age 62. Which is correct?

Q. I am 57 years old and work for the Defense Department. At age 60, I will have 26 years under FERS. I would like to retire at age 60 and draw my federal pension. Would I be able to work for another nonfederal government agency (say state, county or city) without affecting my federal pension?

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