Owed Deposits for Federal Retirement

Owed Deposits Under CSRS/CSRS Offset

Anyone working for the federal government prior to October 1, 1982, in positions for which deductions for CSRS were not made will receive limited credit for this service in the computation of a CSRS/CSRS Offset annuity.

Specifically, the period will count when computing length of service. However, the annuity will be reduced by one-tenth of the amount that the employee would have paid into CSRS plus interest had the service been covered by CSRS.

Anyone working for the federal government after October 1, 1982, in positions for which CSRS deductions were not made will have to make the required deposit before that service can be used in any annuity computation. If the deposit is not made, the time involved can still be counted for meeting the minimum length of service for an immediate annuity, and for determining high-3 average salary. However, no credit will be allowed in the computation of the annuity—that is, the time will not be multiplied by a percentage of the high-3 average salary.

Owed Deposits Under FERS

While in general FERS coverage is not provided to anyone not making retirement contributions, some FERS employees have worked in the past in federal jobs where retirement contributions were not taken out of their salaries. In order to get credit for any such “non-deposit” service performed before 1989, FERS employees must make a deposit to the retirement fund. The deposit equals 1.3 percent of base pay for that period, plus interest.

FERS employees cannot make a deposit for non-deduction service after 1988.

Whether it makes sense for someone to make a deposit depends on how much is owed versus what will be returned through an annuity over time.

Answers
Views
Question
1
answer
41
views
updated 1 day ago
Category: Retirement
6
answers
49
views
updated 18 hours ago
Category: Retirement
1
answer
190
views
updated 2 weeks ago
Category: Retirement
1
answer
201
views
updated 2 weeks ago
Category: Retirement
1
answer
104
views
updated 2 weeks ago
Category: Retirement
1
answer
527
views
updated 1 month ago
Category: Retirement
1
answer
279
views
updated 1 month ago
Category: Retirement
1
answer
257
views
updated 1 month ago
Category: Retirement
1
answer
1035
views
updated 1 month ago
Category: Retirement
4
answers
237
views
updated 1 month ago
Category: Retirement
1
answer
136
views
updated 1 month ago
Category: Retirement
1
answer
309
views
updated 2 months ago
Category: Retirement
1
answer
230
views
updated 2 months ago
Category: Retirement
4
answers
169
views
updated 1 month ago
Category: Retirement
1
answer
239
views
updated 2 months ago
Category: Retirement
1
answer
267
views
updated 2 months ago
Category: Retirement
3
answers
231
views
updated 2 months ago
Category: Retirement
2
answers
574
views
updated 2 months ago
Category: Retirement
1
answer
390
views
updated 2 months ago
Category: Retirement
1
answer
228
views
updated 2 months ago
Category: Retirement
1
answer
269
views
updated 2 months ago
Category: Retirement
1
answer
224
views
updated 2 months ago
Category: Retirement
1
answer
269
views
updated 2 months ago
Category: Retirement
5
answers
108
views
updated 2 months ago
Category: Retirement
2
answers
453
views
updated 3 months ago
Category: Retirement
3
answers
774
views
updated 3 weeks ago
Category: Retirement
1
answer
559
views
updated 3 months ago
Category: Retirement
1
answer
143
views
updated 4 months ago
Category: Retirement
1
answer
281
views
updated 4 months ago
Category: Retirement
1
answer
253
views
updated 4 months ago
Category: Retirement
1
answer
331
views
updated 4 months ago
Category: Retirement
1
answer
1369
views
updated 5 months ago
Category: Retirement
2
answers
416
views
updated 5 months ago
Category: Retirement
1
answer
385
views
updated 6 months ago
Category: Retirement
1
answer
336
views
updated 6 months ago
Category: Retirement
3
answers
919
views
updated 6 months ago
Category: Retirement
1
answer
450
views
updated 6 months ago
Category: Retirement
2
answers
499
views
updated 6 months ago
Category: Retirement
5
answers
110
views
updated 6 months ago
Category: Retirement
1
answer
571
views
updated 6 months ago
Category: Retirement
1
answer
69
views
updated 6 months ago
Category: Retirement
1
answer
287
views
updated 6 months ago
Category: Retirement
2
answers
347
views
updated 7 months ago
Category: Retirement
1
answer
289
views
updated 7 months ago
Category: Retirement
2
answers
939
views
updated 7 months ago
Category: Retirement
1
answer
1644
views
updated 8 months ago
Category: Retirement
2
answers
623
views
updated 7 months ago
Category: Retirement
1
answer
107
views
updated 8 months ago
Category: Retirement
2
answers
257
views
updated 8 months ago
Category: Retirement
3
answers
1012
views
updated 8 months ago
Category: Retirement
4
answers
834
views
updated 5 months ago
Category: Retirement
2
answers
227
views
updated 8 months ago
Category: Retirement
1
answer
215
views
updated 8 months ago
Category: Retirement
1
answer
300
views
updated 9 months ago
Category: Retirement
1
answer
361
views
updated 9 months ago
Category: Retirement
1
answer
709
views
updated 9 months ago
Category: Retirement
1
answer
968
views
updated 9 months ago
Category: Retirement
2
answers
477
views
updated 9 months ago
Category: Retirement
1
answer
143
views
updated 9 months ago
Category: Retirement
1
answer
95
views
updated 9 months ago
Category: Retirement
1
answer
292
views
updated 10 months ago
Category: Retirement
1
answer
779
views
updated 10 months ago
Category: Retirement
1
answer
97
views
updated 10 months ago
Category: Retirement
3
answers
626
views
updated 10 months ago
Category: Retirement
0
answers
182
views
Category: Retirement
1
answer
1330
views
updated 10 months ago
Category: Retirement
1
answer
276
views
updated 11 months ago
Category: Retirement
2
answers
220
views
updated 10 months ago
Category: Retirement
1
answer
441
views
updated 11 months ago
Category: Retirement