Does the first year of FERS Supplement need to be repaid?

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In January 2017, I began receiving a FERS Supplement payment in my pension. My current earned income is almost triple the exempt amount. Do I need to repay this? It seems that OPM doesn’t ask me about my income until January 2018. If I need to repay, I would rather stop the payment now.

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Posted by (Questions: 1, Answers: 0)
Asked on May 2, 2017 6:08 pm
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To quote the CSRS FERS Handbook, Chapter 51, here is what it says regarding when the reduction is assessed: A reduction in the retiree annuity supplement in a given year is based on excess earnings in the previous year. The reduction is assessed beginning with the year immediately after the first year during which a retiree became entitled to the annuity supplement (or reached the MRA if already receiving the annuity supplement before the MRA). If you would like to read more about this, page 15 of the following link will provide regulation and examples on this topic: https://www.opm.gov/retirement-services/publications-forms/csrsfers-handbook/c051.pdf

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Posted by (Questions: 0, Answers: 356)
Answered on May 4, 2017 2:50 pm