It is true that a lot of things changes after retirement, but to retire from one’s lifetime job shouldn’t mean that everything is about to end. In most scenarios, the United States “Civil Service Retirement System” gives the veteran members of our society enough opportunity to maintain the lifestyle they had always led.
When is it time to think about your Retirement System?
For most professions, the time to retire is around 50 to 60 years of age, or before than considering special circumstances. However, if someone is taking retirement for disability or accident, the age to retire can be any depending on the job.
The time to think about your retirement is not when you are about to retire, but at least 5 years before that. Since your retirement is going to be a big part of your life – especially if you’ve been at a job for many years – plans need to be made for your life after retirement.
More importantly, everyone needs to be correctly informed just how much annuity you are entitled to after you retire.
When You May Retire From Civil Service?
Eligibility to retire under the Civil Service Retirement System of United States is calculated based on a person’s birth year, but the general age limit is 55 to 57 years of age. If you decide to retire early before you are 50, you need to have stayed in Civil Service for more than 20 years to be eligible for the annuity.
|Type of Retirement||Minimum Age||Minimum Service (Years)|
|Early Optional||Any age*||25|
|Discontinued Service||Any age*||25|
The retirement system consists of the following four categories of benefits:
- Immediate Retirement
- Early Retirement
- Deferred Retirement, And
- Disability Retirement system
How much are you entitled to after civil service retirement?
Of course, your annuity is going to be decided on your duration at the job, and the average of the highest pay you had received during your service life. If you had started from the bottom and risen to the top, the highest you had been paid for 3 consecutive years of your service life will be counted for your annuity amount, known as your “high-3” amount.
Increase in cost of living even after you have retired will also be considered, and your annuity will increase gradually over the years because of this concept.
However, if you have chosen to retire voluntarily before the official retirement age of your profession, your annuity is going to be less compared to your former colleagues who had retired on time. Unless you have taken disability retirement, of course!
If you are in the US Military, annuity is calculated a little differently, of course. Annuity is only paid after retirement if your service has ended on favorable and honorable conditions.
For professionals who go to civil service after their military career has ended, the Civil Service Retirement System is required to pay them annuity both for their military and their civil service.
What happens if you perish during your service life?
If you are unfortunate enough to die while is service under the United States government, your annuity will be paid forward to your family, but only if you had stayed in the job for more than 18 months. It is usually the widow(er) who gets paid the annuity for their spouse but if they have been married for 9 months or more.
If the marriage is younger than that, the annuity goes to another close family member. If you have a child within your marriage of less than 9 months, the annuity again comes back to your widow(er) and child.
In absence of a widow(er), children receive their parent’s annuity until they are 18 years old; or 22 years old, if they are still in school.
What if you are no longer able to work?
If you are forced to retire due to some accident or life-threatening disease, you are still eligible for an annuity, albeit a reduced one. Besides, for any kind of medical treatment, you will receive a lump sum for your hospital bills.
This lump sum will be calculated based on your contribution to the “Civil Service Retirement System” fund. Your children and your widow(er) will keep on receiving the annuity if you happen to perish due to this medical reason.
What about the CSRS Offset Employees?
When you are eligible for both annuity under the Civil Service Retirement System and Social Security, you are a CSRS Offset Employee. In such situations, the amount of annuity paid under the Civil Service Retirement System will automatically reduce when you are also paid from the US Social Security Fund.
Detailed information about Civil Service Retirement System are available in pamphlet format at the personnel office for every Government department as well as online. HR personnel at every department are also aware of all the details and always ready to help
By the time we retire, we are usually free from most of life’s responsibilities. Life after retirement is the perfect time to enjoy ourselves, health and situation permit.
It helps tremendously if we know beforehand just how much annuity we are entitled to, so that we can plan the rest of our life accordingly.
The United States Civil Service Retirement System is very generous to the patriots who have toiled to make their country a more efficient one, and the annuity that past employees receive as annuity after retirement, celebrates that fact!