By Reg Jones
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 »
Q. I have been a FERS employee since 1985 and this year will have 28 years of Social Security substantial earnings.
I was born in the U.K., a U.K. citizen, and worked there in the 1970s before marrying and emigrating to the U.S. with my U.S. Navy husband. I am now eligible to receive a U.K. state pension, 10 years of which are based on employment.
I am now told that my U.K. pension is subject to the windfall elimination provision, as those 10 years are not covered by Social Security. This seems grossly unfair as, at the time I earned my U.K. salary, I was not a U.S. citizen, resident or employee, and had no intentions of becoming one.
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. 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 am a CSRS Offset employee with five years of “pure” CSRS and 22 years of CSRS Offset and three additional years of Social Security substantial earnings (so 25 years total of substantial Social Security earnings).
I am getting different answers as to how much my CSRS annuity will be adjusted at age 62 (i.e., the offset) and how much my Social Security benefit will be affected by the windfall elimination provision. My question is whether the combined benefit at age 62 of CSRS pension plus Social Security benefit ever ends up being less than the CSRS Offset benefit was before the offset took effect?
February 13th, 2014 | Benefits COLA Creditable service: CSRS Government pension offset PAY RETIREMENT SOCIAL SECURITY spouse benefits substantial earnings SURVIVOR BENEFITS taxes Windfall elimination provision
Q. My husband is a retired federal employee receiving a CSRS pension. I have been paying Social Security taxes based on my own employment earnings since before we were married.
1. As the wife of a federal employee who is receiving a federal pension, will I receive my full Social Security benefit when I reach retirement age?
2. If I outlive my husband, how much of his federal pension would I receive, and would I also continue to receive my full Social Security?
3. Will he receive Social Security benefits based on employment earnings in nonfederal jobs he held prior to and after his federal employment?
4. If, as a retired federal employee, he will never be eligible for Social Security benefits, should he be paying Social Security taxes — which he has in the past and is doing in nonfederal jobs?
Q. I am a retired federal employee covered by CSRS Offset with 31+ years of federal service. I understand that, at age 62, my CSRS federal pension will be reduced and Social Security will pay the reduced amount to receive approximately the same in monthly annuity. Would my Social Security amount increase if I did not claim Social Security until I reached age 65 or my full Social Security retirement age? Also, I believe I have 30 years of substantial earnings with Social Security. Does this have an impact on when and how much I will receive from Social Security after age 62?
February 10th, 2014 | annuity reduction Benefits Creditable service: CSRS CSRS annuity computation EMPLOYMENT Military service deposits part-time PAY RETIREMENT SOCIAL SECURITY Windfall elimination provision
Q. I served three years on active duty from 1966 to 1969. I was hired as a federal employee in 1970. I retired in 2009 at age 61 and not eligible at that time for any Social Security benefits. I did not buy back my military service because of the provision under section 22A5.1-3G of the CSRS/FERS Handbook, where it states that “employees who retired prior to age 62; and are not eligible for Social Security at age 62; continue to receive credit for the post-1956 military service even if they become entitled to Social Security at a later date and the military deposit was not made.”
Because of some part-time work I have been doing over the past four years, I am now eligible for Social Security benefits. If I apply for such benefits, will it affect my CSRS annuity? I understand that the windfall elimination provision will apply to me.
Q. I am having half of my Social Security benefit reduced because I have a CSRS retirement and I earned enough Social Security credits separately for a Social Security benefit because of Army Reserve service.
Will the amount of my Social Security benefit be reduced because of the windfall elimination provision? Will it can count on my IRS Form 1040 as taxes paid or a deduction?
Q. I am CSRS Offset. It is my understanding that when I apply for Social Security, a portion of my CSRS Offset retirement will be SS. My question involves my husband’s collection of his SS. When he passes, will I be eligible for his SS? I know his is more and we are making retirement plans for him.
Q. I just retired from federal service with 23 years plus four years military bought back. I am starting a job with the Teachers Retirement System of Texas, in which I do not pay into Social Security. How will this affect my Social Security benefits later, when I start to take them?
Let me ask two examples:
1. I am 51 now. If I choose to work for TRS for 12 years, retire and take a partial retirement from TRS (vested after five years) along with my FERS retirement, and then want to start taking Social Security payments at, say, age 63, what will be the effect at that time on my Social Security payments?
2. If I work for 12 years with TRS but leave service (not retire, just leave), will this have any effect on my Social Security payments when I start to take them? Can I take the funds from my TRS account and roll them over into another retirement account without paying federal tax or paying a penalty?
Q. I am CSRS. I earned my 40 quarters before becoming a fed. I plan to retire May 2 at almost 65 years old. I am not going to apply for Social Security until 66. I will have almost 37 years of combined federal service. When I apply for Medicare Part A at 65, there will be no cost, correct? When I go on Social Security, there will be no cost for Medicare Part A, correct?
Q. I am under CSRS Offset. I retired in 2009 at age 57 with 30 years of service, went back to work as a contractor and am still working. I have paid into Social Security for approximately 40 years. Will there be an offset in my retirement when I turn 62?
Q. I worked 10 years under Social Security (40 quarters) prior to entering federal service under CSRS in 1979.
I retired last year at age 65 and intend to apply this year for Social Security when I turn 66.
Will the Social Security retirement payment not be reduced by the CSRS Offset because the Social Security contributions were made before the federal service employment with no overlap?
January 14th, 2014 | Creditable service: CSRS Creditable service: FERS CSRS annuity computation EMPLOYMENT FERS annuity computation Postal Service RETIREMENT SOCIAL SECURITY Special retirement supplement spouse benefits Windfall elimination provision
Q. I have worked for the Postal Service for 20 years under FERS and planned on retiring next year. My husband retired several years ago from the Postal Service under CSRS. Will I be able to collect my full Social Security benefits, or will I be subject to the WEP? I have heard conflicting statements.
Q. I retired as a FERS employee. I worked for the federal government for 32 years. The last 12 years, I switched to FERS and paid Social Security. I was under the impression that I would receive my full Social Security once I applied for it, without the windfall elimination provision. Is this correct?
Q. Recently, a colleague and I were reading your Dec. 2 article “Don’t let these 5 mistakes disrupt your plans.”
Your statement on number 5 (not accounting for the government pension offset) leaves us wondering.
We are under CSRS and retiring this month. Her husband is still working and will be eligible to draw Social Security benefits when his time comes to do so.
Your statement indicates that when he draws Social Security, her CSRS annuity will be reduced. REALLY? I know that if he draws Social Security and dies, she eligible to receive his Social Security, but her pension with CSRS will be reduced due an offset/windfall.
This is his retirement, when he is eligible. Even though he is drawing Social Security while he is alive, this will be an offset/windfall to HER CSRS pension?
Q. I’m under CSRS Offset, but I have 36 years of substantial earnings under Social Security. Will either pension be reduced?
Q. I need information as to how Medicare Part B premiums are paid when the following applies, per CMS.HHS:
“If you are not set up on your spouse’s Social Security number with a B or D following the Medicare number.”
My wife’s Medicare Part B card has a B following the Medicare number. When my wife retires from the Postal Service with an immediate CSRS annuity, her Social Security benefit, which is now used to pay the Part B premiums, will be greatly reduced due to the windfall elimination provision. If she cannot have the premiums deducted from her Social Security benefit, is there some other way/process for her pay the Part B premiums.
Q. I am a CSRS employee with 34 years in at age 64. I plan to retire in April. I earned my 40 credits prior to being a federal employee. I do not plan to sign up for Social Security until I turn 66. As I understand the windfall elimination provision, I will go into retirement receiving whatever CSRS annuity I arrange and when I sign up for Social Security, I will maintain the CSRS annuity but receive a reduced amount of Social Security. Correct?