Q: I retired from the federal government (CSRS) with 26 years of service and receiving my annuity. I then went to work for a municipality that is covered under CalPERS (a California State Pension program). When I retire from this agency I will receive an annuity from CalPERS. My agency also participates in Social Security and in addition pays a monthly offset of $133.00 on my behalf. I am trying to determine how or if I will be affected by any offset regarding my Social Security benefit. Any advice would be greatly appreciated.
A: Your state pension will not affect your Social Security, but your CSRS pension does. Your Social Security will be reduced by the Windfall Elimination Provision. If you are married the Government Pension Offset will reduce (probably eliminate) anything to which you are entitled as a spouse or survivor.