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Arthur Rubin
Arthur Rubin, Tax Preparer
Category: Social Security
Satisfied Customers: 1561
Experience:  Over 20 years experience in tax preparation, including some multi-national Social Security applications.
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I am a CSRS federal employee retiree. I retired 3 months ago

Customer Question

I am a CSRS federal employee retiree. I retired 3 months ago (Jan2016) with 37 years federal service and need assistance in understanding what coverage or entitlement is available to me at age 62 or later ... if any. copy/paste info from online statement:
*Retirement You have earned enough credits to qualify for benefits. At your current earnings rate, if you continue working until... your full retirement age (66 and 2 months), your payment would be about......................................... $ 784 a month age 70, your payment would be about................................................................................................. $ 1,024 a month age 62, your payment would be about................................................................................................. $ 585 a month
thank you
Submitted: 1 year ago.
Category: Social Security
Customer: replied 1 year ago.
does above estimate impact my current CSRS pension?
Expert:  Arthur Rubin replied 1 year ago.
Your Social Security payments (if any) do not affect your CSRS pension. WHen you receive the CSRS pension, your Social Security benefits may be reduced by up to about 50% (it's a complicated formula), but by no more than 50% of your CSRS pension. The Social Security provision is called the "Windfall Elimination Provision" (WEP), and a short summary can be found here.
Expert:  Arthur Rubin replied 1 year ago.
If you are a "CSRS offset" employee, which would require that you had a break in service of between 1 and 5 years, it's the other way around. You then paid Social Security taxes, and your CSRS pension is reduced by some function your Social Security benefits.