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Frequently Asked Questions Retirement

I'm ready to retire. Because of a coverage error, I'll be able to choose whether I want CSRS Offset or FERS retirement coverage. I hadn't planned to waive my military retired pay under FERS. Under CSRS Offset, giving up my military retired pay to get credit for my military service would make a big difference in my CSRS retirement. If I retire now under FERS and later choose CSRS Offset, can I go back and waive my military retired pay?

You'll be able to make all new elections, if you choose CSRS Offset coverage. If you decide to waive your military retired pay, you will be able to waive it back to your retirement date. Also, you'll have an opportunity to pay the military deposit. Since you owed a FERS military deposit when you were in FERS and would owe a larger CSRS deposit if you choose CSRS Offset coverage, you can take an actuarial reduction in your annuity instead of paying the CSRS military deposit. The actuarial reduction is based on the amount of military deposit you owe and your age at retirement.

Before you're asked to choose retirement plans, OPM will give you information about your benefits under both CSRS Offset and FERS. They will tell you how much your military deposit is under both. They will also explain how payment of a military deposit and the actuarial reduction will affect your benefit.

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