Before I retired, my agency changed my retirement plan to FERS to correct an error. If I choose CSRS Offset, do I have to pay back the money my agency put in my Thrift Savings Plan (TSP) account?
When your agency corrected your retirement coverage to FERS, it also should have contributed make-up agency contributions and lost earnings on those contributions to your TSP account. If you now choose CSRS Offset, no adjustments will be made to your TSP account. Instead, OPM will find out how much of your TSP account is based on what your agency contributed (this includes the earnings on those contributions). That dollar amount will form the basis for an actuarial reduction in your CSRS Offset retirement benefit.
Related Questions
- Before I retired, my agency changed my retirement plan to FERS to correct an error. If I choose CSRS Offset, do I have to pay back the money my agency put in my Thrift Savings Plan (TSP) account?
- I havent changed jobs or retired but I want to roll some of my retirement money out of my employers plan into something I like better. Can I do that?
- Im retired from the Federal government, but my agency changed my retirement plan before I retired because of an error. Can I still make an election?
