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Re-employed annuitant?????
Old 08-05-2005, 08:26 PM   #1
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Re-employed annuitant?????

I am considering applying for a position in my former agency.

Is there anyone on the board who can walk me through the nuts and bolts to help me calculate the consequences of reinstatement? I would jump for joy if I could contact someone who recently retired from OPM's CSRS group.
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Re: Re-employed annuitant?????
Old 08-06-2005, 10:24 AM   #2
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Re: Re-employed annuitant?????

Hey Brat -

havent heard that term talked about for years - but maybe what comes around goes around - I retired under CSRS two years ago - according to 2003 Fed Almanac one can be re-employed but with some significant limitations - if buyout within last 5 years then you gotta pay it back - and you cannot get both annuity and total salary - "The salaries of those reemployed annuitants who retired voluntarily will be offset by the amount of the annuity."*

Far better, Brat, is to find an in-agency contractor who will employ you to do your old job in your old office while you collect both full pension and full pay while keeping any retirement buyout.* But then, you wouldn't enjoy the benefits of RE!*

Good luck in whatever you choose to do.* and stick around this forum...

JohnP
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Re: Re-employed annuitant?????
Old 08-06-2005, 12:34 PM   #3
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Re: Re-employed annuitant?????

Brat,

I retired under CSRS in 2001. One week later I was back at the same desk, doing the same work as a support contractor. I worked only 3 days a week and I negotiated an hourly rate from the contractor (with no benefits) that paid me more for those three days than I would have made working full time as a federal employee. I also collected my pension at the same time. I did the part time work for two years and then fully retired. During those two years I max'd out contributions to the company 401k and still saved big $'s in a taxable account. A much better deal than reemployed annuitant.

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Re: Re-employed annuitant?????
Old 08-06-2005, 01:21 PM   #4
 
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Re: Re-employed annuitant?????

Ditto what johnp and the grumpman said. I worked with a few re-employed annuitants and they were always grumbling about what a bad deal it was. Currently I'm bobbing in a sea of contractors where I work--they generally make the same pay as their government counterparts.
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Re: Re-employed annuitant?????
Old 08-06-2005, 01:32 PM   #5
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Re: Re-employed annuitant?????

This occupation (0360 series) is not one which is contracted out.

I worked in private industry for a few years after taking an CSRS alternate annuity early out .* Am thinking a couple years with my former employer would bring real value to them and could improve my pension.

This agency is full of grumpers, my prime reason for leaving was the employee relations issues.* Almost all in the old choir have left, but at worst I would just plug my ears for a year.* I would be happy to guarintee them that I would be gone on or before the 5th year.
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