Switch from OWCP to FERS regular retirement

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I receive OWCP benefits and have just reached age 70 1/2, my full retirement age. I have not applied for social security benefits. I have 19 years of combined FERS service and OWCP compensation. Is it more advantageous to voluntarily end OWCP benefits and receive a FERS non-disability annuity and social secirty benefits than to continue with OWCP compensation only?

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Posted by (Questions: 1, Answers: 0)
Asked on November 20, 2018 2:35 pm
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That is impossible for me to answer but here is what you need to consider to make your decision. Your FERS service stopped or will stop when you file for retirement. When you combine your FERS retirement and your SSA is that amount greater than your OWCP? And don’t forget to consider that OWCP is not taxed whereas FERS is and SSA can be taxed.

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Posted by (Questions: 0, Answers: 316)
Answered on November 20, 2018 3:44 pm