Q. I retired two years ago from the U.S. Postal Service. I retired with 33 years under my belt — service as civil service offset. I just turned 62 and was surprised when my annuity dropped $900. I didn’t think this would happen until I applied for Social Security. Should I apply for my deceased husband’s benefit, which is less than mine, take my greater benefit, or take less of an amount now and let my Social Security grow until I’m 66?
Browsing: CSRS Offset
As a result of all the early retirement offers and buyouts, a lot of employees leave government for what they hope will be greener pastures. Whatever their motivation, quite a few of them think about returning to work for the federal government. If you are one of them, a potential impediment to your coming back to work is this. If you received a buyout and return to work before the end of five years, with rare exception, the law requires that you repay the entire amount no later than the date on which you report for duty. If you didn’t…
Q. I retired under CSRS at the age of 62, with 40 years of service (military included) and I paid back my military Social Security. I am currently 65 with 38 minimum quarters of Social Security. Would it benefit me to work two additional quarters to draw Social Security, or would the WEP eliminate any Social Security to which I would be entitled?
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 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. My husband is retiring with the CSRS retirement program. We have agreed that he should elect a survivor benefit for me. If he dies, am I entitled to the survivor benefits without reducing my Social Security?
Q. If you have a break in your service before you’re vested, would you still fall under your original retirement plan once you complete the five-year vesting time period?
Q. I will be 62 this month. I am a federal retiree and receive approximately $3,200 gross for my monthly annuity. My Social Security statement says I would receive $1,221 per month. I was a civil service offset employee as I had previous civil service from 1971 to 1975. I returned to federal employment in January 1987 and retired in January 2014. Will I be able to collect the whole $1,221 in Social Security benefits, or will it be reduced by the GPO? I’m confused because I’m reading about federal pensions and no Social Security was paid. I therefore paid…
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?