Impact on Social Security of working after retirement as a CSRS Offset annuitant

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I am 60. I retired on 3 Jan 2020, with abt 17 years under CSRS, a 3 year break in service, and then abt 17 years CSRS Offset. I will be 62 in Aug 2022. I am still waiting for my first annuity check.

Anyway, I am considering taking a temporary job with the US Census. How (if at all) will working part-time effect my annuity in 2020? Will there be any impact to my SS benefit when I turn age 62?

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Asked on February 7, 2020 2:52 am
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Private answer
Unless the Census position waives dual compensation your salary will be reduced by annuity. If you elect to draw your Social Security before reaching your full retirement age (either 66-67) you are limited to how much you can earn or your Social Security will be reduced. The 2020 annual earnings test amount is $18,240.
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Answered on February 7, 2020 3:11 am
1. I will elect to start drawing my SS in August 2022, when I turn age 62. So, the annual earnings test will not apply to me until 2022, correct? 2. My Census position would pay me much less than my monthly annuity. So, for this job, if they do NOT waive dual compensation, then they will not be able to pay me anything, right? Is it a dollar-for-dollar salary reduction? Thanks!
( at February 7, 2020 4:00 am)
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Private answer
Correct, the earnings test does not apply until you start drawing Social Security. For becoming a reemployed annuitant, yes dollar for dollar. Ask if they will waive that before you accept the position.
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Posted by (Questions: 0, Answers: 570)
Answered on February 7, 2020 4:24 am