CSRS Offset


Q. I am a CSRS Offset retiree who is now 62 and eligible for Social Security. I am currently employed as a contractor working in a government agency. The Office of Personnel Management is reducing my annuity by the amount SS reported to them that I am eligible to receive. I don’t dispute the amount and understand that this would happen. However, SS told me that I earn too much money and they will not make up the difference. I was told during the retirement seminar that regardless of the amount I earned, I would get the SS portion because it was part of my retirement that I earned. Can you explain why I will be denied the amount I am supposed to receive as an annuitant?

A. Prior to reaching your Social Security full retirement age, your Social Security benefit will be subject to the Earned Income Offset. The good news is that offset benefits are deferred and not forfeited, and the deferred amounts will be paid to you once you reach your full retirement age.


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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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