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CSRS Retirement

CSRS Retirement

CSRS Retirement: Example

  • Employee has 26 years 9 months of Civil Service Credit
  • 5 years of Military Service
  • High 3 income is $78,000
  • Retiring at age 60
  • Employee DID NOT buy back his military service prior to retirement  Monthly income is $3233.75
  • Employee DID buy back his military service prior to retirement.  Monthly income is $3,883.75

Social Security:

  • Must be 62 years of age or over, completed a minimum 40 quarters of prior employment credits AND earn at least $900 per quarter in order to qualify for one credit
  • SOCIAL SECURITY income from your annual statement does not reflect a reduction of up to 60% based on the windfall elimination rule

Thrift Savings Plan (TSP):

  • Even though TSP does not match as in the FERS Retirement it does offers employees a way to potentially increase their retirement income with tax deferred growth and the ability to reduce tax liability today    
  • Employees also have the ability to invest in 5 specific individual funds and a life cycle (auto pilot) called the L Cycle which is a combination of the 5 funds

Survivor Pension: 

  • Employees are required at retirement to either elect or reject a survivor pension if they are married. If the employee chooses NOT to provide the survivor pension then the spouse must sign off.  
  • Did you know?  You may qualify for a Survivor Pension with benefits that can be transferred to your children or partially refunded back to the retired employee if your spouse predeceases you.

For a Computation for Annual Income on CSRS Retirement Annuity, please contact Federal Employee Benefits for your Personalized Packet.