The federal government has made a political commitment in securing retirement benefits with its retired employees. Civil Service Retirement System Washington only an unforeseen change in law would prevent them from honoring such a commitment.
Employees hired before 1984, but who leave service and are rehired after December 31, 1983, are eligible to reenter CSRS if they have at least 5 years of service eligible for credit under CSRS. If more than one year has elapsed before returning, you will be part of CSRS-Offset and start paying into Social Security.
Upon retirement, your benefits will be the same as a CSRS employee until you reach the age for Social Security, at which time, your CSRS will be reduced by the amount of Social Security you receive.
Eligibility to Retire
Benefits under CSRS are payable to workers with 30 years of service at age 55. Workers with 20 years of service have benefits payable at age 60, and with 5 years of service at the age of 62. The amount of an employee’s annuity will differ. Annuity payments are calculated using the “High-3” average pay and length of service. “High-3” refers to the highest average annual pay earned by the employee’s basic rates during any three consecutive years of service.
Retirement Annuities and Survivor Benefits
In the event of death to the retiree. A provision can be made under CSRS Civil Service Retirement System Washington giving continuing benefits to survivors. If you are married and elect a survivor annuity upon retirement, your annuity will be computed automatically to provide an annuity to your widow or widower. To prevent this, you and your spouse, must submit in writing that you do not wish your spouse to receive an annuity upon your death.
With this option, your monthly income will be reduced and your survivor will received annuity. Either an annuity of 55% of your full annuity, or 55% of whatever base you and your spouse elected in writing, upon your death after retirement. In order to pay for the survivor annuity, your own annuity will be reduced. By 2.5% of the first $3,600 plus 10% of any amount over $3,600.
Civil Service Retirement System Washington – Law Enforcement Officers and Firefighters
- Can retire at age 50 with at least 20 years of creditable service. Without reduction in annuity due to retirement prior to age 55.
- Must retire at age 57. However, maximum age may be extended with approval to age 60.
- Formula: 2.5% per year for the first 20 years x “High 3” + 2% per year over 20 years x “High 3”.
- Contributions: 7.5% of Salary + Medicare tax.
Civil Service Retirement System Washington Air Traffic Controllers
- Can retire at age 50 with at least 20 years of creditable service, or at any age with 25. Or more years of creditable service without reduction in annuity due to retirement prior to age 55.
- Must retire at age 56. However, this does not apply to ATCs with the DOT hired prior to 5/6/72. Or with the DOD hired prior to 9/12/80.
- Formula: Use regular formula. However, annuity will not be less than 50% of “High 3” at retirement.
- Contributions: Same as regular CSRS: 7% -4- Medicare tax.