Browsing: service

Q: On it states that between the years 1957 and 2001 Special Extra Earnings can be credited to your Social Security benefit for active-duty military service between the above mentioned years. Will this affect an adjustment to a CSRS annuity? My Post 56 payment was paid in full in 1986 to avoid interest payments. A: No, it won’t.

Q: I am a federal employee with almost 50 years of service. Are the excess contributions that I have made since reaching the 80 percent maximum at 41 years, 11 months, taxable when I retire? A: Any refund of excess contributions you made to the retirement fund won’t be taxable. You already paid taxes on them. On the other hand, any interest you receive will be taxable. — Reg Jones