Q. I have a little over 13 years of FERS service. I am 51 years old. I originally planned on retiring at 56 (MRA+10) but I have recently been contemplating retiring now under a deferred retirement. 1. If I retire now (deferred), will I be able to draw the retirement at 56, or will I have to wait until age 62? 2. If I choose to withdraw my retirement versus defer it, is there a calculator somewhere that can give me a general idea of how much I would get? A. You can’t retire. What you can do is resign…
Browsing: withdrawal
Q. I worked for the Defense Department from 1976 to 1985 under CSRS. I withdrew my contributions at that time but find in talking with an Internal Revenue Service agent about another subject that she could see a deferred annuity. Could this be from sick leave that had accrued that I would not get paid out for, or could it be from the employer match of my contributions? A. Because you withdrew your retirement contributions when you left government, you wouldn’t be eligible for any retirement benefit.
Q. I withdrew $4,000 after leaving federal service. I returned and plan on retiring after 30 years of service. I intend to pay back the withdrawal. Can I repay after I retire to regain the years I lost when I withdraw? Or do I have to repay while I’m still employed in federal service? A. You have to complete the redeposit, plus accrued interest, while you are employed by the federal government.
Q. My husband was employed by the federal government from June 1970 through July 1971and was covered under CSRS. He resigned and withdrew his CSRS contributions. He returned to work in the federal government in 1999 on a temporary appointment for a few months. In January 2000, he was appointed to a permanent federal position and began contributing to FERS. He left that permanent position in the fall of 2004. He left his FERS and Thrift Savings Plan contributions in the system. With the CSRS time and the FERS time, he is eligible for a deferred retirement now. He will have approximately…
Q. I had 3½ years in under FERS when I transferred to an agency that does not participate in it. I took a total withdrawal of my TSP funds (which included four years of military service that I bought back). If I return to an agency that participates in FERS, can I buy back the funds/time I withdrew? A. Yes.
Q. I am a CSRS employee and withdrew all pension contributions in 1995 after 15 years of service. No redeposit has been made. I now have another 15 years of continuous service since that withdrawal and I am now 57 years old. If a redeposit is not made: (1) Since I am over 55 with more than 30 years of service, can I receive a disability retirement if approved or must I take a regular retirement; and (2) what is the impact on the annuity for a disability retirement (assuming it would be authorized and approved), if no redeposit is…
Q: I was married to a military person for 10 years while he was on active duty. I will be eligible for Civil Service Retirement System retirement and understand the Social Security offset concept. I believe I will be eligible for Social Security benefits based on my ex-husband’s Social Security benefits (I never remarried). Will it be worth it to apply for Social Security benefits despite the offset due to my CSRS annuity? Also, I withdrew three years of deposit in 1980 and was told by a co-worker that it wouldn’t be worth it to pay this back as the…