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WHAT ARE VOLUNTARY CONTRIBUTIONS UNDER THE CIVIL SERVICE RETIREMENT SYSTEM (CSRS)?

April 26, 2017Civil contributions CSRS retirement service system Voluntary

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WHAT ARE VOLUNTARY CONTRIBUTIONS UNDER THE CIVIL SERVICE RETIREMENT SYSTEM (CSRS)?

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If you are an employee covered under CSRS or CSRS Offset, and you want to receive a larger annuity than that which would be payable based on your years of service and “high-3” salary, you may make voluntary contributions (OPM) to purchase additional annuity. However, if you owe a deposit or redeposit for civilian service, you will be eligible to make voluntary contributions only after the deposit or redeposit is paid. Also, if you previously made voluntary contributions, and received a refund of those contributions, you may not make voluntary contributions again unless you had a break in service after receiving the refund. If you wish to make voluntary contributions, you must complete the Application To Make Voluntary Contributions, Standard Form 2804 (OPM), and forward it to your Benefits Contact.