Q & A
I’m 52, and I’ve been on FERS disability retirement since I was 47. My minimum retirement age is 56. Is it true that they’ll stop withholding federal income taxes on my pension when I reach my MRA? Is it also true that I’ll be switched to regular retirement when I reach my MRA, and not when I reach 62?
Answer: Both are untrue. Federal income taxes will continue to be deducted from your annuity — and you will be responsible for paying federal income taxes — as long as you are a disability retiree. And you won’t be switched to…
Can a person receive Social Security disability and workers’ compensation benefits at the same time?
Answer: Yes, but workers’ compensation and other public disability benefits may reduce Social Security benefits. If you receive workers’ compensation or other public disability benefits and SSA disability benefits for the same period, the total amount of these cannot exceed 80 percent…
I am a stay-at-home father, and my wife is in the Navy. She has been in since 2006 and does not know if she is FERS or CSRS. Is there a way I could check it? We have the Thrift Savings Plan, and they just mention “uniformed services” when I search around.
Answer: If she is in the Navy, she is a member of the armed forces, not a civilian employee of the U.S. government. Therefore, she isn’t covered by either CSRS or FERS. Source: Reg Jones, FederalTimes.com – February 2, 2014 Notice:…
Re-employment with the USPS – What are the issues?
Full Question: I retired from the Postal Service approximately eight years ago after 11 years of service to pursue other aspirations. I am curious about the chance and opportunity to be reinstated. I am nearing age 40 and would like to…
I am nearing my full retirement age, but I plan to keep working after I apply for Social Security benefits. Will my benefits be reduced because of my income?
Answer: No. If you start receiving benefits after you’ve reached your full retirement age, you can work while you receive Social Security and your current benefit will not be reduced because of the earned income. If you keep working, it could…
My cousin and I are both retired and get Social Security. We worked for the same employer for years, but he gets a higher Social Security benefit. Why is that?
Answer: Your payments are based on your earnings over your lifetime. Unless you are both the same age, started and stopped work on the exact same dates, and earned the very same amount every year of your careers, you wouldn’t get…
What are Medicare’s Limitations on Nursing Home Stays?
Full Question: My father is currently in the hospital, we have been told he is going to require ongoing care in a skilled medical facility. My mother is physically frail and in no shape to take care of him at home…
When’s the best time to start drawing Social Security?
Full question: After 29 years, we sold our business last November to relatives for all cash, plus we got a 10-year note that pays us $2,100 each month. Now we’ve retired. I will be 62 this April, and my wife will…
Is there an online method for getting my Social Security retirement estimate?
Answer: Yes. You can use our Retirement Estimator. To use it, go to our website at www.socialsecurity.gov/ <code_dp displayname=”code_dp” name=”code_dp”>estimator. You must enter certain identifying information about yourself, including your first name, last name, date of birth, Social Security number, place of birth and…
What are the rules for making estimated tax payments?
Full question: I have been getting conflicting opinions about when and how to pay quarterly estimated tax. I receive Social Security and a pension income. In December, I take a required minimum distribution (RMD) from my IRA. One bit of advice says…