Q & A
My wife wants to retire next year, and she will be 57 in July. Plans on retiring end of March. According to Social Security, her SS benefit at age 62 would be $1,857 a month, but it says it is based on her working until 62 and that she earns $110,000 a year during that time. I can’t find anything about what happens under her scenario of retiring at 56.75 years old. Will her benefit be reduced because she does not work until 62? Her first year with full-time SS contributions was 1983, and her SS earnings were $12,750. Prior to that, she had some on-and-off part-time earnings starting in 1974; not more than $1,200 in any year, and some years were $0.
Answer: To find out what her Social Security benefit would be using different scenarios, go to www.socialsecurity.gov/planners/benefitcalculators.htm and select a calculator that best fits her needs. Source: http://blogs.federaltimes.com – November 18, 2013
I am looking at the Trust Fund Data of Social Security & Medicare Tax rates from the Social Security Administration website. For the year 1971-72, I see a 4.6 withholding rate under OASDI and .600 under HI. Would a federal employee covered under CSRS in 1972 have paid the 0.6 percent into Medicare? I know they would not pay the 4.6 under OASDI.
Answer: No. Federal employees weren’t covered by Social Security until Jan. 1, 1984. Source: http://blogs.federaltimes.com – November 16, 2013
Understanding FEHB vs. Medicare Part A
Full Question: I will turn 65 next year and am very confused about Medicare Part A and my current Federal Employees Health Benefits (Blue Cross/Blue Shield Basic) coverage. I just read that applying for Medicare Part A is optional, and if…
WHO DECIDES WHETHER YOU RECEIVE SOCIAL SECURITY DISABILITY?
Answer: The Social Security Disability application process can feel mysterious and deeply impersonal. But it is about your life and shapes your future. Understanding the process can help you feel more empowered. Read more… Notice: The “Read more…” link provided…
I’m a federal employee. If I receive a medical disability, do I pay the full Federal Employees Health Benefits premiums plus 2 percent?
Answer: Assuming that you are currently enrolled in the FEHB program, you would pay the same premiums in retirement that you are now paying as an employee. Note: If you are a Postal Service retiree, you’d lose the subsidy gained through…
Retirement as CSRS Offset
Full Question: I will be 63 this month. I worked at the Postal Service from 1969 to 1981 as a letter carrier. I took the CSRS money out when I left in 1981. I worked in the private sector from 1981…
Understanding Retirement Dates for CSRS employees
Full Question: I plan to retire at the end of 2013. From what I am reading, if I retire on Jan. 3, the effective date of my retirement would be the next day, Jan. 4. Since the 4th is not within…
What are the implications of retroactively applying for Medicare Part B?
Full Question: In 1997, I retired from the federal government at age 58. I will soon be 74. When I became eligible for Medicare, I chose only Plan A, since most of Plan B would have duplicated my Blue Cross/Blue Shield benefits. …
How Do Divorce and Remarriage Affect Social Security Benefits?
Answer: It is common knowledge that husbands and wives are entitled to collect Social Security benefits on their spouses’ work records. Less well known is that this benefit applies to divorced spouses as long as the spouse has not remarried. Divorced…
I am a CSRS annuitant over 65 with Blue Cross/Blue Shield Service Benefit Plan as my Federal Employees Health Benefits insurer. My wife, who is turning 65 next month, and is covered under my FEHB has been served a notice that she will have $104.90 per month deducted from her Social Security benefit to pay for Part B. Is there something in the laws governing the FEHB program that requires covered spouses of retired federal employees to pay for Part B or forfeit benefits under the FEHB program?
Answer: No one is required to have Medicare Part B. If she doesn’t want that coverage, she needs to refuse it. Source: http://blogs.federaltimes.com – 11/12/2013