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CSRS Employees and Redepositing Retirement Funds

Redeposit

Federal Employee
DOD
Mon Apr 14, 2008 9:32 AM

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I left government service in 1986, after the birth of my third child in five years. I withdrew the $8800 of my contributions. I went back to government service in 1996. BRAC-05 included my agency. My retirement estimate showed that I now owed over $32,000 if I chose to pay for the $8800 I'd withdrawn 20 years and 4 months earlier. If I repaid, I'd get another $129 per month. I'd have to live at least 17 years to break even on the payback. Needless to say, I did not repay that amount.

CSRS Redeposit and Tax Consequences

IT Specialist
HHS
Mon Apr 14, 2008 10:27 AM

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I withdrew retirement contributions sometime in the 1970s and paid taxes on that amount. If I make a redeposit, what are the tax implications? Will I be taxed on the amount again when I retire despite I already paid taxes on it?

Re: CSRS Redeposit and Tax Consequences

John Grobe
Federal Career Experts
Tue Apr 15, 2008 7:00 PM
There is no reason you should have paid taxes on the withdrawal. Perhaps you were advised incorrectly. The money was already taxed before you deposited it. There are, therefore, no tax implications on repayment.

If you actually did pay taxes, then you may want to consider filing an amended return.

retirement estimates

systems analyst
USAF
Mon Apr 14, 2008 1:22 PM

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I'm hoping the AF is the only agency with this issue, but I would get laughed out of the office if I had the nerve to ask for a retirement estimate. We are told to work it out ourselves on the internet. We are continually told to ask for an estimate and start planning well in advance, but it we try to make an appointment before a month remaining time, we are told to call back later. We have HR folks working on the side and charging 200 - 250 dollars to prepare forms for people because we cannot get help from our HR office.

Re: retirement estimates

Former HR Specialist
Federal Agency
Tue Apr 15, 2008 8:09 AM
If the HR folks that are working on the side preparing estimates are the same ones who won't give you an estimate while at work, or if there is any relationship between those two groups of HR folks such as the people in your office referring you to the others, this would appear to be a conflict of interest. Unfortunately, it is the people in HR that make determinations of this kind. Therefore, if this describes the situation you face, I would consider reporting it to your Inspector General's Office. You can do that anonymously because most IG Office have a toll-free tip line.

Wifes CSRS offset

Sr Radiographer
State of California
Tue Apr 15, 2008 5:43 PM

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My wife worked for the VA as a clerk for 5 years and went to nursing school in 1980. She went to work for a state agency and retired with a California PERS pension. She has been rehired as a RN with the VA 1.5 years ago and is CSRS offset. They want to know if she wants to go FERS and have her TSP matched or continue CSRS. I was wondering, should she continue as is and not buy time back? She is 56 soon to be 57 and would like to retire at 62. I will retire from PERS in a few years as a Technologist and have 5 years military and 3 years csrs from 1980 also thinking of going back to VA.

Re: Wifes CSRS offset

John Grobe
Federal Career Experts
Tue Apr 15, 2008 7:04 PM
Have her ask HR for a copy of the FERS transition handbook and then make the decision you feel most comfortable with. The good news is that neither decision is a bad one.

Retiring under FERS disability

Retired Career Federal Employee
Retired
Mon Apr 28, 2008 9:52 AM

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I did not see me situation in your article. I had 5+ years under CSRS and received my CSRS refund. I went back to work for the federal government under FERS and worked 24 years. When I retired under FERS disability, I had to repay almost $30,000 redeposit money in order to get credit for the 5+ years under CSRS. If I had a regular retirement under FERS, I would have been eligible for a reduced CSRS annuity. Before I retired under disability, OPM had never informed me of this. So beware of retiring under FERS disability if you have years under CSRS.

redoposit CSRS

Programa Technician
USDA Farm Service Agency
Mon Apr 28, 2008 2:11 PM

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I began working on 10/12/82 as temporary employee.
I was hired permanant for another USDA agency on 6/13/83. It was 1 week between jobs. I found out
22 years later...that I owed a redeposit on my retirement. When figured for me....it was almost $2,000.00 owed. Is is to my advantage to try and pay this back now or wait until retirement and let come out of my check?

Thanks.

CSRS 1979-1986 TRANSITION TO FERS 1987-PRESENT

planner/estimator
navy
Mon Apr 28, 2008 8:24 PM

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i have never asked about my csrs contrabutions. can i have them transfered to fers or what are some of my options. i did not take any money out of csrs.

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