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Federal Retirees


For those approaching retirement as well as the currently already retired, here is a forum to share ideas and thoughts and exchange questions and answers.


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Ar509  
#1 Posted : Sunday, May 31, 2020 10:03:27 AM(UTC)
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I am retiring in a few months (after 30 years)and will likely receive around $1500 to $1600 in my federal pension, not including the supplemental.

A certain percentage of that is supposed to be tax free since I paid post tax dollars on the 0.8% and my military buyback as well. This is what yused to be called the old 3 year rule, or now the general rule.

Can anyone , especially retirees, give me an idea of of how much of their annuity is tax free?
kaljor  
#2 Posted : Sunday, May 31, 2020 10:41:49 AM(UTC)

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When I retired there was a figure on my check stub in the lower right corner that showed my total contributions to the pension. That figure is the tax free amount and it's spread over 30 years. The figure may not match exactly your final total, but it should be close enough for a good estimate.
thanks 1 user thanked for this useful post.
Ar509 on 5/31/2020(UTC)
postalvet  
#3 Posted : Monday, June 1, 2020 1:16:52 PM(UTC)
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Originally Posted by: Ar509 Go to Quoted Post
I am retiring in a few months (after 30 years)and will likely receive around $1500 to $1600 in my federal pension, not including the supplemental.

A certain percentage of that is supposed to be tax free since I paid post tax dollars on the 0.8% and my military buyback as well. This is what yused to be called the old 3 year rule, or now the general rule.

Can anyone , especially retirees, give me an idea of of how much of their annuity is tax free?


when you get your 1009 at the beginning of each year it will tell you the tax free amount.

some try to figure it out, but why, when OPM does it for you.
thanks 1 user thanked Guest for this useful post.
Dazedandconfused on 6/19/2021(UTC)
EngineerJim  
#4 Posted : Saturday, June 19, 2021 10:38:09 AM(UTC)
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Originally Posted by: kaljor Go to Quoted Post
When I retired there was a figure on my check stub in the lower right corner that showed my total contributions to the pension. That figure is the tax free amount and it's spread over 30 years. The figure may not match exactly your final total, but it should be close enough for a good estimate.

While working, look at your Leave & Earnings Statement (LES) for "Cumulative Retirement". Your last LES should match the OPM 1099-R you get at the end of the year (when retired). Use that total you paid in and the Simplified Worksheet in the instructions for tax form 1040 (page 28 in 2020). For most people, it is spread out over 21-30 years (260-360 months). There is a table at the bottom of that worksheet to pick the right number of months. The first year of retirement may be adjusted if you were not retired all 12 months in that tax year.
38 yrs professional toilet scrubber  
#5 Posted : Wednesday, June 23, 2021 4:11:32 AM(UTC)
38 yrs professional toilet scrubber

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Originally Posted by: Guest Go to Quoted Post
Originally Posted by: Ar509 Go to Quoted Post
I am retiring in a few months (after 30 years)and will likely receive around $1500 to $1600 in my federal pension, not including the supplemental.

A certain percentage of that is supposed to be tax free since I paid post tax dollars on the 0.8% and my military buyback as well. This is what yused to be called the old 3 year rule, or now the general rule.

Can anyone , especially retirees, give me an idea of of how much of their annuity is tax free?


when you get your 1009 at the beginning of each year it will tell you the tax free amount.

some try to figure it out, but why, when OPM does it for you.


Postalvet, why did you "thank" yourself?
A professional toilet scrubber for 38 yrs never carried b4.
Dazedandconfused  
#6 Posted : Wednesday, June 23, 2021 6:50:56 AM(UTC)
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Originally Posted by: 38 yrs professional toilet scrubber Go to Quoted Post
Originally Posted by: Guest Go to Quoted Post
Originally Posted by: Ar509 Go to Quoted Post
I am retiring in a few months (after 30 years)and will likely receive around $1500 to $1600 in my federal pension, not including the supplemental.

A certain percentage of that is supposed to be tax free since I paid post tax dollars on the 0.8% and my military buyback as well. This is what yused to be called the old 3 year rule, or now the general rule.

Can anyone , especially retirees, give me an idea of of how much of their annuity is tax free?


when you get your 1009 at the beginning of each year it will tell you the tax free amount.

some try to figure it out, but why, when OPM does it for you.


Postalvet, why did you "thank" yourself?





You are postal vet!



Not this poster!
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38 yrs professional toilet scrubber  
#7 Posted : Wednesday, June 23, 2021 7:56:55 AM(UTC)
38 yrs professional toilet scrubber

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Why did you "thank" yourself after a year?
A professional toilet scrubber for 38 yrs never carried b4.
GordonG  
#8 Posted : Wednesday, June 23, 2021 7:52:22 PM(UTC)
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Originally Posted by: 38 yrs professional toilet scrubber Go to Quoted Post
Why did you "thank" yourself after a year?



I'm not a psychiatrist, a person who's medical focus is on the diagnosis, treatment and prevention of mental, emotional and behavioral disorders...BUT...I'd say they have self esteem issues.

As that person most likely doesn't receive any praise from anyone in their life, all they have left is praising themselves as a last resort. It's sad really.

The desire, the need, to be acknowledge and loved is so deep and innate that thanking themselves is all they has left in their life.

That type of person is to be pitied.

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Edited by user Thursday, June 24, 2021 5:01:58 AM(UTC)  | Reason: Not specified

Afghan Joe Biden

Where's Kamala?

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