By Reg Jones
Q. I’ve read where normally one’s salary is cut by the amount of annuity he or she is receiving, but what happens if the new salary is less than the existing annuity? Read the rest of this entry »
Q. I was a federal worker covered by CSRS from 1975 to 1989. On leaving, I left my deposits there in the hope I would return. I did not, but I joined the reserves and worked the private sector.
In 2008, I was discharged from the military. I was 53 when discharged. I am considered unemployable by the VA and also receive Social Security Disability benefits. There was a big hole in my Social Security deposit sheet the years I worked for the federal government and therefore receive a reduced SS disability benefit.
Since I am considered disabled currently, am I eligible for an offset or do I have to wait till I am 62? Read the rest of this entry »
Q. My wife’s uncle (age 87 with 42 years CSRS) asked me to find out if his wife would continue receiving his retirement should he die first. His wife is under social security retirement after a career in nursing. She is 85, both have been retired for a long time. In this scenario, how would her future retirement be computed? Read the rest of this entry »
Q. I am retired from the FBI. I have 22 years covered under CSRS and 11 under FERS. Because my FERS supplement ends in August when I turn 62, I plan to apply for Social Security, who has advised my monthly benefit payment will be 1120.00. My FERS supplement is approx 500.00 per month. My question is: When I begin receiving social security benefits in August, will I receive the entire 1120.00 or will it be reduced? Read the rest of this entry »
March 3rd, 2014 | CSRS annuity computation
Q. My husband and I were both hit with reductions in force (RIFs) in 1997 due to base realignments, and while I managed to return to civil service, he did not. Both of us were on CSRS, and I am still covered by CSRS.
Is there any way we can accurately determine what his CSRS benefits would be in advance of applying for retirement? And how do we apply for CSRS retirement when there’s been such a long break in service? Read the rest of this entry »
February 28th, 2014 | CSRS annuity computation
Q. I am CSRS offset and can retire later this year. I have two questions.
1) As someone who works on a regular basis on Sunday and receives Sunday premium pay, is this premium pay part of calculations for my retirement annuity?
2) I spent 10 months in Iraq as a US Corps of Engineers civilian army employee. One adviser told me that my hazardous/combat pay counts towards my high-3 for retirement purposes. Another adviser said the opposite. Which is true?
Q. I plan to retire within the next year but have some questions. I am a CSRS-Offset with 34 years of employment. I understand that after I start receiving the payments Social Security will not be taken out. Does that also include Medicare and state withholding taxes? So, if my annuity estimate states that I will receive $2,700 per month, is the only deduction I will have off of that my insurance if I choose to continue it? Also, if you deduct the withholding of Medicare and state taxes, will I be able to get them back when I file for my income taxes? Do I have to claim this retirement money as income on my taxes?
Q. What are the differences if my retirement date is Nov. 29, 2014, or Dec. 1, 2014? I will be retiring from the Postal Service as a Level 18 postmaster. I am retiring under CSRS. My service computation date is July 6, 1979. I will be turning 55 on Nov. 16. I have worked continuously at the Postal Service, and I have 1,848.84 hours of accumulated sick leave.
February 21st, 2014 | Benefits Creditable service: CSRS Creditable service: FERS CSRS annuity computation EMPLOYMENT FERS annuity computation High-3 Military service deposits PAY Re-employment RETIREMENT SOCIAL SECURITY taxes Windfall elimination provision
Q. 1. How are the days of active-duty service calculated?
2. Is that a one-to-one credit added to years of service?
3. Can you buy it back after you retire and adjust the annuity accordingly?
4. Can you buy back portions of it?
5. Can you pay in installments?
6. What percentage of military pay per year would you get in retirement? For CSRS, it is roughly 2 percent based on high-3; would it be calculated on actual salary back then or adjusted for inflation?
7. Any chance for a retroactive payment once established?
8. Will I lose any benefits if I do this?
9. Can I do this if I was not in the military long enough to earn a pension?
10. How does Social Security fit into this picture?
11. Can I get all three (FERS/CSRS, Social Security, military/Defense Department) separately? What is the penalty for collecting multiple pensions if done separately?
Q. I left active duty after 14 years and joined the reserves. Due to my specialty in certain investigations (CID agent), I was involuntary mobilized prior to obtaining a civilian (1811) job. I was mobilized for four continuous years, bringing my active-duty time to 18 years. Once off active duty, I was able to report for my first day of work as an 1811 in the GS. Since I was not eligible for active-duty retirement, I was able to use my 18 years for sick/vacation time. My unit is planning to mobilize this year (for a year), and my plan is to mobilize and hope to stay on until reaching 20 active-duty years, thereby clinching an active-duty retirement. If I buy the 18 years back now for the GS civilian job, and then I mobilize for two years, would I be eligible for the active-duty retirement since I will have reached 20 years?
Q. I turned 60 on May 17. As of this past November, I have 27 years as a fed. If I retired now, with less than 30 years, is there a penalty? How much?
Q. I worked under CSRS from 1963 to 1984 and withdrew my contributions when I left. I returned to a term position in 2002 and was informed that I couldn’t elect CSRS, so I selected a FERS pension. I am 72 and still employed. When I retire, I will receive an actuarially reduced CSRS pension. Does the reduction computation continue each year into retirement? What is the reason (law or regulation) that this reduction is itself not reduced or eliminated if I retire at a more advanced age (and will receive the pension for fewer years)?
Q. I entered federal service under a temporary appointment on March 16, 1981, until being converted to a career-conditional appointment on Jan. 12, 1982. The Office of Personnel Management has calculated that I owe a CSRS pre-10/01/1982 deposit of $878.88 and interest of $1,398.85 for a total of $2,277.73. If I understand it correctly, unless I pay the deposit in full, my annual annuity will be reduced by 10 percent of the amount of the unpaid balance at retirement. In this case, my annual annuity would be reduced approximately $227.77 or $18.98 per month. Does this reduction ever change? Are there ramifications other than this reduction to be considered, i.e. cost-of-living adjustments, etc.?
Q. I am CSRS with 33 years of service at age 52. I am considering a Voluntary Early Retirement Authority offer and understand the annuity is reduced 2 percent for each year under age 55. Is this a one-time annuity reduction at time of retirement, or is the reduction computed every year against the inflation-adjusted annuity?
Q. I worked for the Postal Service from 1988 to 1999 and took my retirement money with me. Someone told me that they only gave me what I put in and I am entitled to the money they matched. Is that true? Am I entitled to any pension from the post office when I am old enough to retire for good?
Q. In 1988, while I was a federal employee at the Defense Mapping Agency, I was enrolled in CSRS. Then, when the FERS plan became available (about 1988), I switched from CSRS to FERS. Then, in November 2000, I separated from the federal government. I have since been told that the money that I paid into CSRS is sitting there and that I can collect it. How can I obtain the money?
Q. If I continue to work at a Social Security-covered job past the age of 62, will the windfall elimination provision deduction be reduced?
I retired from the Postal Service as a CSRS employee in 2004. Prior to my Postal Service time, I had 12 years of substantial earnings in the private sector. Since my retirement in 2004, I have worked for 10 years in a job that pays Social Security deductions. So, as of now, at the age of 62, I have 22 years of substantial earnings.
I have contacted the Social Security Administration and been told to use the WEP detailed calculator to determine what my benefit would be if I made a Social Security claim. However, that did not answer my question. I realize that the longer I work, the greater the Social Security benefit will be. But, as I work longer, will the WEP deduction be reduced, too? Or is it permanently set at age 62?
Q. I started my career with the federal government in December 2010. If I am not mistaken, my retirement contribution is 1.2 percent. I left the federal government in June 2013. I will be reinstated hopefully in about a month. As a reinstated employee whose initial date of entering the federal workforce was in 2010, will I be abided by the new retirement contribution rate of 4.4 percent?
Q. I am planning to retire at the end of pay period 26, which is Jan. 10, 2015. I will have 13 years, 11 months and 20 days of service. I will be 10 days short of 14 years of service. If I have 80 hours of unused sick leave, will that cover the 10 days to get 14 years of service?
Q. I have approximately five-plus years of active military service, and approximately four years of civilian time. If I buy back my military time now and later decide not to retire from the federal civil service, can I receive that money back?