How Many Retired Feds Do We Have Here? (salary, husband, benefits)
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Great post, and darn near every word is applicable to both me and my wife.
We both retired from the Library of Congress as CSRS retirees in '08 - me with a bit over 35 years (including some military and unused sick leave) and my wife with 30 years. We both started as GS-3s - I ended up a 13, and my wife a 12. And your comment about "work my way up the ladder on a career path slowly and steadily" absolutely applies to us. Hell, I started in the mail room (talk about a stereotype!) and ended up a librarian.
We both had great careers, we both enjoyed our various jobs along the way, we both are very grateful we could retire when we did, and we are both enjoying the hell out of retirement.
Some background info. Many of us on the forum are aware that Madman was a consultant/presenter for the federal govt on the various windfall related positions so there is a natural deference to his thinking since the government was paying him to do that at one time.
Mad Man of Bethesda is very knowledgeable about federal retirement systems and he does us a service here on CD to at least point us in the right direction when we're confused about our benefits. I do know there is a lot of misinformation about SS and the CSRS pensions. My cousin retired from the Customs service in Miami and they were told not even to bother applying for SS. I told her that was not true, and explained about the Windfall provisions. In our seminars from DoD in DC we were told that most of us CSRS retirees had worked enough in the private sector to collect some SS, but not as much as those annual notices we get tell us. I question the quality of my cousin's retirement seminar, the guy that ran it actually is in trouble for selling fraudulent investments to most of the Customs officers, but that's a whole other story. I will need about 4 more"credits" to be eligible to collect SS. One of these days I'll have to stop procrastinating and get a part-time job that pays SS tax. I should be able to collect enough to pay my part B Medicare at least. I'm a 30 year CSRS worker, retired in 2010, by the way. I'm loving retirement and not over-eager to go back to work.
There must be someone in Miami passing along that misinformation, I guess. Perhaps the person(s) who stated that assumed that the retirees hadn't earned enough outside their federal jobs to make 40% of the earned SS on whatever it was worth trying to collect, who knows?
My DH worked in Miami when he was told the same thing. He found out differently when he applied for Medicare at age 65. The very nice lady who called him back from the SS/Medicare office to get him enrolled also gave him the information about his SS. He had a total of 17 years worth of SS credits ( 10 years= 40 credits, if I recall) between the military, contract work on his own, and 7 years on a job after he retired from the government service.
Looks like it could be worth it, if you're inclined, to get that 4 extra credits, (about one year more of working, even part time, at a job in which you pay into SS?). With your 30 years of federal service, it looks like you would be able to collect the entire SS amount, not just a percentage of it, no?
I hear you about the retirement. Both DH and I are loving it too.
DH retired 2 years ago with 30 yrs with the Navy (active/reserve) and 31 yrs with DoD (FERS). I followed last March, leaving with my FERS pension after 29 years with DoD. We both get SS because that's the third "leg" of the FERS plan. Really happy to be retired!
To all my fellow federal retirees, may you all live long lives so that the govt can somewhat repay you for your public service.
To you military retirees, a special thank you for risking your lives for our country.
We are now in a political environment that some make it seem like we are collecting welfare.
Federal employee here, still many years to MRA. I have been following the proposals and news regarding Congress looking to adjust federal employee benefits, mainly increasing pension contributions. Initially, it was some Republicans who were looking to "bring federal employee pay and compensation in line with that of the Private Sector." Now, some Democrats are on board. From what I have heard, a new budget agreement will likely increase the amount paid into retirement by employees. There are also proposals to change the way the FERS pension is calculated so that it pays out less.
CSRS Offset, about 29 1/2 years total, retirement was effective April 1, 2012. I had a pretty checkered career; worked for Air Force, Army, Navy, Defense Logistics Agency - lost my cushy government job when Clinton was prez and defense downsized. Came back to SSA for a short while (anyone who worked there for an entire career is a saint!), then Energy, where I retired. Don't regret a minute of it, had fun, and did some good now and then.
About the 4 credits a year for SS - it used to be that you had to earn so much in a given calendar quarter to get the quarter of coverage. Nowadays, you only need to make enough to 'buy' the quarters of coverage. In 2014, a quarter will cost $1,200, so to earn a year's worth - 4 quarters of coverage - you only need to earn $4,800. That wouldn't take too long if you can get a halfway decent paying job.
FERS here. Started govt late in 1988 when I was 32. Bought back 4 yrs active and was told that I'll be eligible with 30 yrs December this year. No way I can afford to retire though I would love to. Feeling pretty burnout on my location, am not from here and really want to move.
Targeting Dec 2015, will be a few months over 60 so I can draw my little ANG pension, plus my little annuity and hopefully find what will probably be a low paying job in a different state (no real chance of contractor jobs in my home state) and cobble the 3 together to make it work for as long as I can before tapping into SS and TSP (I SUCK at TSP, really a problem).
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