Ask The Experts: Retirement

By Reg Jones

CSRS retirement withdrawal and redeposit

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Q. I am with USPS and am in CSRS. I began working in 1973 and quit in 1977, at which time I withdrew my retirement money. I returned to USPS in 1983 and am still there. Do I need to redeposit the money I withdrew to get credit for 33 years of service? If I do not redeposit the money, will my annuity be decreased?

A. Because you took that refund before Feb. 1, 1991, you’ll get credit for those years of service in determining your eligibility to retire.

However, if you don’t redeposit that money, plus accrued interest, your annuity will be actuarially reduced based on the amount you owe and your age on the day you retire.

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