Browsing: CSRS

Q. My wife is under CSRS Offset. She retired at age 61 and had her CSRS Offset benefit reduced last February when she turned 62; she turns 63 this month (January 2017). She has not applied for Social Security benefits. She is currently working at a job that is covered by Social Security. Her annual salary is $45,000. We don’t need the Social Security component of the CSRS Offset right now, approximately $800 per month. Is it to her advantage to apply for Social Security benefits now or should she wait until she turns 65? If she applies now, won’t her…

Q. I resigned from the federal government in 1989 and withdrew my retirement funds ( about $12,000 worth). I was reemployed in 2005 and am in CSRS Offset. I plan to retire in 2022. According the FHR Navigator benefit system, the redeposit I would owe as of Sept. 2, 2022, is $35,512 (withdraw amount plus accrued interest). Can I pay the amount of redeposit I owe (today, presumably less than $35,512) from a rolled over IRA with Vanguard?

Q. I just returned to government employment after a long break in service and am in CSRS Offset. Can I use my IRA (Traditional) to roll over my owed redeposit money into CSRS? My IRA is with Vanguard, and they were unsure about the penalties involved. I called the IRS and no one there knew.

Q. I have approximately $125,000 in contributions plus about $50,000 in earnings in my VCP account. I need about $110,000 from my account. Can I borrow in the form of a loan from my account, or do I have to withdraw? I would still like to keep the account open and would intend to replenish at a later date.

Q. I am 64 years old, retired under CSRS and receive a pension of $3,954 dollars monthly. I paid enough to be eligible for Medicare, but I don’t have enough quarters to receive Social Security benefits on my own. My wife is currently receiving a Social Security pension of $1,359.90 monthly. Am I eligible for a Social Security Spousal benefits?

Q: I retired CSRS 15 yrs. ago and now at age 70 1/2 years old It’s time to select a qualified distribution from my TSP funds.  My Question is this; does my investment scheme remain the same after I start withdrawing money or does TSP move them to a fund of their choice?

Q: What form do I need to cancel medicare part B, I do not get social security benefits.   I get a CSRS pension.   I have GEHA health insurance.   Because I took out TSP savings my premium for medicare part B jumped to 246 dollars a month.   I want to cancel.

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