In this episode, Dan and Ed explain what the Special Retirement Supplement (SRS) is and who qualifies for it. They also discuss how the SRS is calculated, the 2024 earnings limits retirees need to know, and the impact of excess income on the supplement. Plus, they cover when reductions apply and why reporting your earnings to OPM on Form RI 92-22 is crucial to avoid payment issues.
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FedLife Podcast (Ep.146): FERS Retirees Receiving SRS—Don’t Forget to Report 2024 Earnings
Join us as Dan and Ed break down the Special Retirement Supplement, how it’s calculated, the 2024 earnings limits, and why reporting your income to OPM matters.
In this episode, you'll discover:
- What are the three parts of the FERS retirement system?
- Why does the FERS supplement exist, and who gets it?
- What are the types of immediate retirement under FERS?
- How is the SRS calculated?
- What’s the earnings limit in 2024? What income counts?
- How much is the SRS reduced if you go over the limit?
- When do reductions start to apply?
- How do you report earnings to OPM?
Source Article:
FERS Retirees Receiving the Special Retirement Supplement Annuity Must Report 2024 Earnings
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