C.S.R.S and F.E.R.S.
Who is eligible for deferred retirement?
Any separated employee who is age 62 and has completed at least 5 years of
civilian service providing the employee left retirement contributions in the Civil
Service Retirement Fund.
When does this deferred annuity begin?
It begins on the separated employee’s 62
nd birthday.
How do I apply for my deferred CSRS annuity?
Obtain OPM form 1496A from OPM by calling, writing, or visiting < a href='www.
opm.gov'>'www.opm.gov and send your application approximately 60 days before your 62nd
birthday to: Office of Personnel Management, Retirement Operations Center,
P.O. Box 45, Boyers, PA 16017.
Is an employee eligible for deferred annuity regardless of the reason for
Separation?
Yes. Providing he/she leaves the retirement contributions in the Civil Service
Retirement Fund and is not convicted of certain National Security offenses.
If I die before attaining age 62, or after age 62 but before applying for
annuity, will my survivor(s) receive survivor benefits?
The only benefit payable will be your lump sum credit in the retirement fund;
monthly survivor annuity will not be payable.
H3 class='text-center'>F.E.R.S.
What is the FERS annuity supplement?
FERS annuity benefits are designed to supplement Social Security retirement
benefits. However, FERS annuitants are not eligible to receive Social Security
benefits until they reach age 62. In order to compensate annuitants who are less
than 62 years old for their inability to collect Social Security benefits, the FERS
Basic Benefit Plan provides a temporary annuitant supplement to FERS employ-
ees who retire with unreduced annuity benefits. Deferred, disability and early
MRA+10 retirees are not eligible for the supplement.
The FERS annuity supplement is designed to approximate the monthly retirement
benefit employees will receive from Social Security at age 62 for their years of service
under FERS. The annuity supplement, which is subject to the Social Security earnings
test, is payable until age 62, at which time Social Security retirement benefits may begin.
Who is eligible for the FERS annuity supplement?
Who is eligible for the FERS annuity supplement?
The FERS annuity supplement is designed to approximate the monthly retirement
benefit employees will receive from Social Security at age 62 for their years of service
under FERS. The annuity supplement, which is subject to the Social Security earnings
test, is payable until age 62, at which time Social Security retirement benefits may begin.
Who is eligible for the FERS annuity supplement?
Employees who retiree voluntarily under FERS on an immediate (not de-
ferred) annuity which is not reduced for age (as is an MRA+10 retirement). FERS
employees may also be eligible for the supplemental annuity once they reach
their minimum retirement age (MRA) if they retired involuntarily or voluntarily
because of a major reorganization or reduction in force.
Those retiring on disability, deferred retirement or an immediate MRA + 10
benefit are not eligible for the supplement.
How is the amount of FERS annuity supplement calculated?
The supplement is computed as if the retiring employee were age 62 and fully
insured for a Social Security benefit when the supplement begins. By law, the U.S.
Office of Personnel Management (OPM) first estimates what the employee’s full
career (40 years) Social Security benefit would be. Then OPM calculates the amount
of his or her civilian service under FERS (which does not include military time, even
if deposit was made) and reduces the estimated full career Social Security benefit
accordingly. For example, if the employee’s estimated full career Social Security
benefit would be $1,000 and he or she worked 30 years under FERS, OPM would
divide 30 by 40 (.75) and multiply ($1,000 x .75+ $750). The result would be the
retiring employee’s special retirement supplement, prior to any reductions.