who receive a letter inviting them to retire under the DSR. You may not volunteer to retire under the DSR provisions.
Timing for deposit for civilian service
Q
I am covered by the Civil Service Retirement System (CSRS) and plan to retire in a few months. I had temporary service for three years in the 1960s and wasn’t covered by CSRS. I realize that I don’t have to make a deposit for this type of service before 1982. My human resources office (HRO) has given me an annuity estimate showing the reduction to my annuity if I fail to make the deposit. I made a decision to go ahead and make the deposit for this service. How do I take care of this deposit, or is it too late to make the deposit?
A
You may make a deposit for civilian service after you retire. The Office of Personnel Management will send you a letter giving you the opportunity to make this deposit in full within 30 days of when your annuity is finalized. OPM does not want you to put your application in to make a deposit now, since you will retire in less than six months. Since the vast majority of retirees do not make deposits for service prior to 1982, OPM sometimes forgets to give you this deposit option when your annuity is made final. Therefore, you will need to attach the application for
deposit or redeposit for civilian service (SF-2803) to your retirement application. You may contact your HRO or go to the OPM website, www.opm.gov, to get this form. Then attach it to your retirement application to prevent OPM from assuming that you do not wish to make the deposit.
TSP Payment to beneficiaries
Q
I think I read in your magazine that my spouse would only be entitled to a lump-sum payment from the Thrift Savings Plan (TSP) if I predecease her. I don’t think the information is accurate anymore.
A
TSP has made changes recently that have an impact on spousal death benefits. When a TSP account, or a share of the account, is left to a spouse beneficiary, TSP creates a new TSP account for him or her if the amount is over $200. The entire amount is invested in the G Fund (Government Securities Investment Fund) until the surviving spouse makes a different investment choice or chooses to withdraw the money. These inherited accounts (called beneficiary participant accounts) are subject to some different rules, but the investment choices and the withdrawal options are the same as those available to regular participants. TSP sends a letter to the beneficiary explaining the new TSP account. If the amount is less than $200, the TSP
will not maintain a beneficiary participant account; rather, it will issue a check in the amount.
retirees When Social Security replaces supplement
Q
I retired in October 2009 under the Federal Employees Retirement System (FERS) and received a FERS Annuity Supplement along with my annuity at that time. Am I correct in assuming that my FERS supplement will be eliminated on my 62nd birthday, which is arriving shortly? And, if this is the case, in your experience, roughly how long would it take for Social Security to kick in once I apply?
A
You are correct that your FERS Annuity Supplement should automatically stop when you turn age 62. You must be at least 61 years and nine months old to apply for Social Security benefits. Otherwise, you should apply for benefits no more than four months before the date you want your benefits to start. If you are already age 62, you may be able to start your benefits in the month you apply. Social Security benefits are paid the month after they are due. (If your benefits start in April, you will receive your first benefit payment in May.) You should contact your local Social Security office and make an appointment to apply for your benefits when you are 61 years and nine months old to expedite w w w. n a r f e . o r g
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