Get Ri 92 22

You have received the FERS Annuity Supplement Survey to determine if you earned more than then exempt amount ($19,560 for 2022) set by the Social Security Administration. If you earned more than the exempt amount, your supplement will be reduced $1 for every $2 you go over the limit.

What is the amount of the cost-of-living adjustment? For the year 2023, annuitants who retired under CSRS will receive 8.7 percent increase and those who retired under FERS will receive a 7.7 percent increase.

The FERS annuity supplement is subject to an earnings test and can be reduced if the retiree makes more than the income limit. In 2023, the income limit is $19,560. For every $2 you earn over the limit, your supplement is reduced by $1.

The exempt amount for the FERS Annuity Supplement is $19,560 in 2022.

Generally, your FERS benefit is 1% of your “high-3” average salary multiplied by your years and months of service. If you were at least age 62 at separation and had at least 20 years of service, your annuity is 1.1% of your “high-3” average salary multiplied by your years and months of service.

Is The FERS Supplement Taxed? Yes, it certainly will be taxed. And unlike Social Security, 100% of your FERS supplement will be subject to tax. Note: For those that don't know, “only” up to 85% of your Social Security can be subject to taxes.

The FERS annuity supplement is subject to an earnings test and can be reduced if the retiree makes more than the income limit. In 2023, the income limit is $19,560. For every $2 you earn over the limit, your supplement is reduced by $1.

You'll need to let OPM know. You can do that by going to .opm.gov, clicking on Forms, and downloading a copy of RI 92-22. Fill out the form and send it to: U.S. Office of Personnel Management, Retirement Survey Branch, FERS Annuity Supplement, Room 2416, 1900 E, Street, NW, Washington, D.C., 20415.