Who do we contact in HR to request them compute how much we own and it's effect it will have on my annuity?
Re: Deposit Money for Temporary Time
Analyst DOD Tue Apr 1, 2008 10:18 AM
In the Airforce, there is no one in HR to contact. We are told to go outside and pay some one to help us. What ever happened to HR services on base?
Re: Deposit Money for Temporary Time
Program Manager USDA Tue Apr 1, 2008 3:38 PM
I had to contact OPM, Refund and Deposit Section, PO box 45, Boyers, PA 16017.
Rule of 30 & high 3
Legal Assistant DOE Mon Mar 31, 2008 8:01 AM
What is the difference retiring at 30 yrs or retiring at your MRA, with say 27 yrs?
Deposit or Redeposit Service
Former HR Specialist Federal Agency Mon Mar 31, 2008 9:10 AM
The bottom line of your story should read, "Just fill out the SF-2803, give it to your HR Office so that you have the exact figures, and can make an informed choice." In my own case at this point in my career, it wasn't worth it. I just wish I had known about this before 30 years worth of interest had accrued. I would have paid it back when I returned to the government in 1979, if I had known.
CSRS Employees: Should You Deposit Money to Cover
Facility Operations Spc USDA/ARS Mon Mar 31, 2008 10:59 AM
There are certain exceptions to the statement that your early non-deposit service will count towards retirement. Notably Peace Corps service requires a deposit for the service to count towards CSRS retirement.
Re: CSRS Employees: Should You Deposit Money to Co
Admin Officer VA Sun Jul 6, 2008 3:20 PM
If you were a Peace Corps/VISTA prior to 1982, then you service counts toward retirement regardless if you paid it back, however, if you don't pay it back prior to retirement, you get a 10% yearly penalty of the total amount including interest that you didn't pay back,but worse than that if you get 40Q's or more for SS benefits, and you DID NOT PAY IT BACK, they go back and REDUCE your federal pension by taking away the credit they gave you for your PEACE CORPS/VISTA service.!!! ( for me it would result in a 6% reduction or over $4500 a year. Pay it back BEFORE you retire! (Call OPM at 888-767-6738 to find out the payback amount including interest.)
If I had know I too had to pay it back along with Ex-military, I would have had to pay around $700 not $2600 today, Oh well.
Old temporary federal employment
Inspector DHHS Mon Mar 31, 2008 1:53 PM
Good article. I'd like to point out that folks who worked federal civil service jobs many years ago (prior to 10/1982) when they were in high school or college their service likely won't count as credit for CSRS retirement puposes. For example, if the job was funded out of "non-appropriated funds" (NAF) and the employee paid into social security.
Question on Pre 10/1/82 Military Service
Managing Engineer DoD Mon Mar 31, 2008 2:23 PM
Thank you for the article. It is very timely since I recently notified my personnel office to send me the paperwork to determine the amount of my pre 10/1/82 deposit service.
I am CSRS and have both temporary federal service (4 months, 1981) and active duty military service for training in the Air National Guard (5 months, 1979-80). My question is: is the annual penality for not making a deposit on pre 10/1/82 military service the same as pre 10/1/82 temporary federal service (10% of 7% of wages compounded at an annual rate of 3%)?
Thanks
Repayment
Admin DOT Mon Mar 31, 2008 2:39 PM
Can you claim the penalty part of your repayment on your taxes? Federal & state?
Follow up
Human Resources Specialist Army Tue Apr 1, 2008 5:09 AM
When will be see the article on redeposit for CSRS folks?
Re: Follow up
Federal employee DOD Tue Apr 1, 2008 9:39 AM
This IS the article for CSRS people.
Paying it back
Consultant Legislative Tue Apr 1, 2008 12:53 PM
I have an eight year period of non-deposit and at one point owed over $25,000 including interest. That meant a potential annuity deduction of $200.00 a month for the rest of my life (even though the government recoups within 10 years). That was too much so I decided to work it off while staying where I am. Shortly, I will have paid down enough so that my deduction will be down to $20.00-$30.00 a month. I can deal with that.
Paying back CSRS deductions that were not withhel
Botanist USDA Tue Apr 1, 2008 3:23 PM
I experienced a similar situatation to one of the examples used in the article "Should You Deposit Money to Cover Temporary Federal Employment?" By John Grobe. What Mr. Grode did not mention in his article is that you are required to pay back this money if you choose to make voluntary contributions to your retirement.
Re: Paying back CSRS deductions that were not with
Consultant Legislative Wed Apr 2, 2008 10:50 AM
And, if you work beyond 32 years, any money that you pay into retirement will go toward paying down the amount. You won't get a lump sum payment for the "extra" money you paid into retirement.
Re: Paying back CSRS deductions that were not withhel
sr procurement analyst State Thu Apr 17, 2008 11:15 AM
Are you sure about this statement. I have not heard that before. I am approaching 32 years and owe back approx $9500 for deposit (temporary time) and re-deposit (retirement funds withdrawn in 1978). I am not so sure the deposit and re-deposit money will automatically begin to be withdrawn from my wages. Would like to learn more, please elaborate more, Thanks!!
Question About Additional CSRS Article
Sales Support & Account Management Specialist US Postal Service Sales Support Integration Wed Apr 9, 2008 11:32 AM
This story stated that there would be another one on CSRS re-deposits for breaks in service. There was a link to an April 4th article (which has now dissapeared from the FedSmith site) that did NOT link to the article. Was it ever published and how can I get a copy? Thanks.
redeposit withdrawn retirement before retiring
mgmt analyst usda Fri Apr 11, 2008 11:30 AM
Has John Grobe written the article answering the 2nd question for CSRS retirement..Should I re-deposit money I withdrew from my retirement when I left government service for a few years?"
FERS Disability Retirement
Retired Career Federal Employee Retired Mon Apr 14, 2008 9:35 AM
When you write the article for FERS retirees who had creditable years under CSRS, please include redeposit rules. I retired under FERS Disability with over five years of CSRS creditable service.
OPM required me to redeposit the CSRS money withdrawn back in 1983, if I wanted the over 5 years to count toward my retirement when I turned 62.
If I had retired under regular FERS retirement, the 5 years would have counted toward my FERS years without redeposit. This was a total shock to me as the amount owed had grown to almost $30,000. This fact was never included in any federal government sponsored retirement training I had received.
good summary
Health Scientist CDC Mon Apr 14, 2008 11:53 AM
This was the best summary of this issue I have read. Better than given by the retirement seminar leaders I wish I have had this information sooner.
Not paying back the deposit may cost alot more
Analyst OGE Tue Apr 15, 2008 11:02 AM
In your article you stated that "... Paul would recoup his $356 in ten years." However, wouldn't OPM continue to deduct $35.60 per year even after Paul had paid back the $356? If Paul received his annuity for 30 years, would he pay back $3560?
Redepositing $$'s
Admin Officer VA Sun Jul 6, 2008 3:03 PM
I worked for VISTA/Peace Corps and ACTION Agency as WAE from 7-72 to 7-75 before being converted to permt job. When the law came into play for EX military to ""payback" their time, I thought it did not apply to me because I was never in the military. Wrong! 25 years later I find out that I too should have paid back the time. Instead of paying less than $700, I have to pay $2600!. Now for the real kicker, If I don't pay it back prior to retirement, and become eligible for SS (I have 36 Q's), at age 62, they will recalculate my pension and take away the 3 yrs credit resulting in a 6% yearly reduction, not just the 10% of $2600 ($260 reduction) This is HUGE!! I would lose about $4000 a yr if I don't pay it back, or I can avoid the hit if I don't ever work after retirement so I never put in the 40 Q's to receive a SS benefit! Need INCLUDE Peace Corps/VISTA service in the same articles in dealing with payback of military time!! (If I am wrong about the current regs, tell me?)
redeposit
retired usafr Sun Sep 7, 2008 9:35 AM
I dont know if the rules have changed, but if you don't
complete your redeposit before you retire they will refund
what you have redeposited. It cost me 200 a month in retirement for not doing it.
Deposit Money for Temporary Federal Employment
Retired from Federal Government Department of the Army Sat Feb 14, 2009 10:48 AM
Thank you for your article. Back in the summer of 1963 I worked as a summer intern for the National Aeronautics and Space Administration and then went back to school in the fall of 1963. Since my appointment was temporary I did not pay a "deposit service" into the CSRS retirement system. However, I began to work for the federal government full time starting in June 1964 (without a break in service) and retired in August 2005. In 1995 I decided I wanted to change my "comp date" for my annuity from June 1964 to March 1964 and get credit for the three months that I worked in the summer of 1963. In order to change my comp date I got in touch with the Office Personnel Management in 1995 and paid the "deposit service".
Deposit Money for Temporary Time
FSA
Mon Mar 31, 2008 7:49 AM
Who do we contact in HR to request them compute how much we own and it's effect it will have on my annuity?
Re: Deposit Money for Temporary Time
DOD
Tue Apr 1, 2008 10:18 AM
Re: Deposit Money for Temporary Time
USDA
Tue Apr 1, 2008 3:38 PM
Rule of 30 & high 3
DOE
Mon Mar 31, 2008 8:01 AM
What is the difference retiring at 30 yrs or retiring at your MRA, with say 27 yrs?
Deposit or Redeposit Service
Federal Agency
Mon Mar 31, 2008 9:10 AM
The bottom line of your story should read, "Just fill out the SF-2803, give it to your HR Office so that you have the exact figures, and can make an informed choice." In my own case at this point in my career, it wasn't worth it. I just wish I had known about this before 30 years worth of interest had accrued. I would have paid it back when I returned to the government in 1979, if I had known.
CSRS Employees: Should You Deposit Money to Cover
USDA/ARS
Mon Mar 31, 2008 10:59 AM
There are certain exceptions to the statement that your early non-deposit service will count towards retirement. Notably Peace Corps service requires a deposit for the service to count towards CSRS retirement.
Re: CSRS Employees: Should You Deposit Money to Co
VA
Sun Jul 6, 2008 3:20 PM
If I had know I too had to pay it back along with Ex-military, I would have had to pay around $700 not $2600 today, Oh well.
Old temporary federal employment
DHHS
Mon Mar 31, 2008 1:53 PM
Good article. I'd like to point out that folks who worked federal civil service jobs many years ago (prior to 10/1982) when they were in high school or college their service likely won't count as credit for CSRS retirement puposes. For example, if the job was funded out of "non-appropriated funds" (NAF) and the employee paid into social security.
Question on Pre 10/1/82 Military Service
DoD
Mon Mar 31, 2008 2:23 PM
Thank you for the article. It is very timely since I recently notified my personnel office to send me the paperwork to determine the amount of my pre 10/1/82 deposit service.
I am CSRS and have both temporary federal service (4 months, 1981) and active duty military service for training in the Air National Guard (5 months, 1979-80). My question is: is the annual penality for not making a deposit on pre 10/1/82 military service the same as pre 10/1/82 temporary federal service (10% of 7% of wages compounded at an annual rate of 3%)?
Thanks
Repayment
DOT
Mon Mar 31, 2008 2:39 PM
Can you claim the penalty part of your repayment on your taxes? Federal & state?
Follow up
Army
Tue Apr 1, 2008 5:09 AM
When will be see the article on redeposit for CSRS folks?
Re: Follow up
DOD
Tue Apr 1, 2008 9:39 AM
Paying it back
Legislative
Tue Apr 1, 2008 12:53 PM
I have an eight year period of non-deposit and at one point owed over $25,000 including interest. That meant a potential annuity deduction of $200.00 a month for the rest of my life (even though the government recoups within 10 years). That was too much so I decided to work it off while staying where I am. Shortly, I will have paid down enough so that my deduction will be down to $20.00-$30.00 a month. I can deal with that.
Paying back CSRS deductions that were not withhel
USDA
Tue Apr 1, 2008 3:23 PM
I experienced a similar situatation to one of the examples used in the article "Should You Deposit Money to Cover Temporary Federal Employment?" By John Grobe. What Mr. Grode did not mention in his article is that you are required to pay back this money if you choose to make voluntary contributions to your retirement.
Re: Paying back CSRS deductions that were not with
Legislative
Wed Apr 2, 2008 10:50 AM
Re: Paying back CSRS deductions that were not withhel
State
Thu Apr 17, 2008 11:15 AM
Question About Additional CSRS Article
US Postal Service Sales Support Integration
Wed Apr 9, 2008 11:32 AM
This story stated that there would be another one on CSRS re-deposits for breaks in service. There was a link to an April 4th article (which has now dissapeared from the FedSmith site) that did NOT link to the article. Was it ever published and how can I get a copy? Thanks.
redeposit withdrawn retirement before retiring
usda
Fri Apr 11, 2008 11:30 AM
Has John Grobe written the article answering the 2nd question for CSRS retirement..Should I re-deposit money I withdrew from my retirement when I left government service for a few years?"
FERS Disability Retirement
Retired
Mon Apr 14, 2008 9:35 AM
When you write the article for FERS retirees who had creditable years under CSRS, please include redeposit rules. I retired under FERS Disability with over five years of CSRS creditable service.
OPM required me to redeposit the CSRS money withdrawn back in 1983, if I wanted the over 5 years to count toward my retirement when I turned 62.
If I had retired under regular FERS retirement, the 5 years would have counted toward my FERS years without redeposit. This was a total shock to me as the amount owed had grown to almost $30,000. This fact was never included in any federal government sponsored retirement training I had received.
good summary
CDC
Mon Apr 14, 2008 11:53 AM
This was the best summary of this issue I have read. Better than given by the retirement seminar leaders I wish I have had this information sooner.
Not paying back the deposit may cost alot more
OGE
Tue Apr 15, 2008 11:02 AM
In your article you stated that "... Paul would recoup his $356 in ten years." However, wouldn't OPM continue to deduct $35.60 per year even after Paul had paid back the $356? If Paul received his annuity for 30 years, would he pay back $3560?
Redepositing $$'s
VA
Sun Jul 6, 2008 3:03 PM
I worked for VISTA/Peace Corps and ACTION Agency as WAE from 7-72 to 7-75 before being converted to permt job. When the law came into play for EX military to ""payback" their time, I thought it did not apply to me because I was never in the military. Wrong! 25 years later I find out that I too should have paid back the time. Instead of paying less than $700, I have to pay $2600!. Now for the real kicker, If I don't pay it back prior to retirement, and become eligible for SS (I have 36 Q's), at age 62, they will recalculate my pension and take away the 3 yrs credit resulting in a 6% yearly reduction, not just the 10% of $2600 ($260 reduction) This is HUGE!! I would lose about $4000 a yr if I don't pay it back, or I can avoid the hit if I don't ever work after retirement so I never put in the 40 Q's to receive a SS benefit! Need INCLUDE Peace Corps/VISTA service in the same articles in dealing with payback of military time!! (If I am wrong about the current regs, tell me?)
redeposit
usafr
Sun Sep 7, 2008 9:35 AM
I dont know if the rules have changed, but if you don't
complete your redeposit before you retire they will refund
what you have redeposited. It cost me 200 a month in retirement for not doing it.
Deposit Money for Temporary Federal Employment
Department of the Army
Sat Feb 14, 2009 10:48 AM
Thank you for your article. Back in the summer of 1963 I worked as a summer intern for the National Aeronautics and Space Administration and then went back to school in the fall of 1963. Since my appointment was temporary I did not pay a "deposit service" into the CSRS retirement system. However, I began to work for the federal government full time starting in June 1964 (without a break in service) and retired in August 2005. In 1995 I decided I wanted to change my "comp date" for my annuity from June 1964 to March 1964 and get credit for the three months that I worked in the summer of 1963. In order to change my comp date I got in touch with the Office Personnel Management in 1995 and paid the "deposit service".