I'm retiring

**McDuck** · 08-24-2016, 10:23 PM

Originally Posted by evilanne

Congratulations McDuck!! Since it was only 2 years where you paid into CSRS vs SS, there shouldn't be much of a difference so you can probably calculated it as you would if it were all FERS. Your pension and social security may be slightly different but technically they should offset each other, or you may come out a little ahead. I think offset rules may impact early retirement but all my employment was FERS. Does you agency provide an actual $$ estimate? Mine provided calculated pension amount and supplement at MRA, which was pretty close to my own calculations.

Thanks evilanne. You are correct. This so-called CSRS-offset makes no/little difference.
Yes. My agency did provide actual $ estimate for both FERS annuity and supplement and they were close to my own calculations.

**McDuck** · 08-24-2016, 10:33 PM

Originally Posted by Buster

Well good luck McDuck..

Can't help with the CSRS offset/..I am total CSRS..But If you're young enough and like to stay active..get a retirement job you like and double your income from when you were working Full Time...Any unpaid debt you might still have, is soon erased and you'll have tons of fun money....I was able to get my second favorite car recently...

Thanks Buster for your the best wishes.

That is good advice about getting a job that I like. But under FERS, ~40% of my retirement $ will be from the Supplement which is "means tested". For the first $16k earned in a year, the supplement is not reduced. After that $16k, for every 2 dollars earned then 1 dollar is reduced from the supplement. That means if I was making $48k or more per year, then I would lose that $20k supplement. FERS retirees have to file an income statement with OPM every year.

I have my house paid for, have no debts, and a sizable emergency fund/savings in the credit union.
My current plan is live off the retirement $ and not take any out of TSP, hopefully leaving it to my two granddaughters.

That is a beautiful car you have.

**Maricar19** · 08-25-2016, 04:46 AM

Congratulations and good luck.

**Scout333** · 08-25-2016, 06:03 PM

Congratulations on your retirement MCD! You'll love it!

**ravensfan** · 08-25-2016, 07:50 PM

Congratulations McDuck. Enjoy your retirement!!!

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