Can CSRS employee receive SSA payments while still an active federal employee. At FRA of 66 yrs.

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35 yr CSRS employee w/ 40 qtrs of SSA eligibility from prior employment. The WEP will eliminate any SSA payments I would have been entitled too. Will retire in 4-5 years at age 70. Read that WEP applies only to CSRS annuitants not to working CSRS? Am I better off drawing full SS now until I retire?

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Asked on October 10, 2017 8:50 pm
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The Windfall Elimination Provision will reduce your Social Security when you are collecting a pension from work not covered by Social Security, such as CSRS, AND elect to draw your Social Security. If you elect to collect your SSA benefit at your full retirement age of 66, you can continue to work and earn as much as you can and the WEP will not be applied because a) there is no earnings test at FRA and b) you are not collecting your CSRS annuity. When you retire in 4-5 years, your SSA benefit will be recalculated and the WEP will reduce your SSA benefit, but it will not eliminate your ability to draw something. Please see the link to the WEP reduction for year 2017 and you will see that the most it will reduce your benefit is by half since you only have the minimum amount of quarters to receive a benefit from Social Security. https://www.ssa.gov/pubs/EN-05-10045.pdf

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Posted by (Questions: 0, Answers: 107)
Answered on October 11, 2017 10:06 pm