Browsing: Social Security

Q. My husband is a CSRS retiree. His Social Security benefit was reduced due to his receiving a pension. I am at full retirement age and plan to apply for Social Security based on his earnings since I do not have my quarters met. Will my Social Security be based on his benefit before the reduction or will mine be based on his reduced amount? A. This is a question for a Social Security rep, but it is my understanding that your spousal benefit will be calculated based on your husband’s windfall elimination provision-reduced benefit amount.

Q. I work for the Centers for Medicare & Medicaid Services and am currently 65 years old. I started working for the federal government on July 4, 2010. The plan is to continue working as long as I can, past 70. When I retire it will be under FERS (born Sept. 12, 1953). Do I start taking Social Security at age 70 if I’m still working? Also, can I continue putting money into my TSP after age 70 and 1/2 (the required minimum distribution age)? Are there any other things I should be aware of if I retire after age…

Q. I currently work for the U.S. Postal Service and have 38 years of service. I’ll be 66 years old in December 2019 and can collect my Social Security benefits in full while still working at the Post Office. Will they still reduce my benefits (government offset) even though I’m not retired or collecting my CSRS pension? A. The Social Security earned income offset will not apply to your Social Security retirement benefit once you reach your Social Security Full Retirement Age. The windfall elimination provision is calculated based on your earnings history and will be applied whether, or not,…

Q. If I retire on Dec. 31, 2019, I will not be paid for annual leave I have saved until sometime the next year (2020). Does that money count against my 2020 Social Security earnings limit ($17,000), reducing my Social Security payments, or does it not count as earned income in 2020 (since I accrued it in previous years)? A. For purposes of the Social Security earned income offset, income counts in the year that it is earned, rather that the year in which it is paid.

Q. If I retire from the U.S. Postal Service at the age of 56 years old with 31 years of service and have 440 hours annual leave and over 2,300 hours of sick leave, what three checks will I get? I know one is pension and one is supplement, but do I get anything from Social Security or the Thrift Savings Plan? And will I lose 5 percent every year until I’m 62?

Q. I am permanently, totally disabled from my doctor after neck surgery. I am FERS, starting in 1990. I retired from the U.S. Postal Service on disability retirement on 1-1-2017. I am thinking of withdrawing $1,000 a month from my TSP on a full payout. Will this affect my Social Security I am receiving, or affect my pension? Do TSP withdrawals affect disability retirement pay in any way?

Q. I am 59 and retired in 2015 at 57 from a federal law enforcement position. I started a consulting LLC in Texas in 2018 and do not take regular draws from the company account. I am currently receiving Social Security supplement along with my pension. Do the gross earnings of my LLC count toward the earnings test even when I do not take a draw equal to or greater than the earnings limit set for the current year 2018? Or, if I take a draw and maintain that amount under the limit, would any remaining funds in the LLC…

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