Quick Decision

You would like the portability that Social Security gives you in case you change jobs

If you are covered under CSRS, you do not have Social Security coverage. This means that if you leave the Federal Government before retirement, you have not been earning credits under Social Security. If you get a new job in the private sector, you and your family may not have any benefit if you become disabled or die until you have worked long enough to have earned these benefits.

If you are covered under CSRS Offset, you do have Social Security coverage.

If you choose to transfer to FERS, you will earn Social Security coverage. For almost all American workers, Social Security is the basic retirement plan to which other benefits are added. To qualify for Social Security retirement benefits, you must have paid Social Security taxes for at least 10 years (or 40 credits or "quarters") over the course of your lifetime. (This 40-credit rule applies if you were born after 1928. If you were born before 1929, you need fewer credits to qualify). The Social Security credits you earn as a Federal employee are added to those you have earned in other employment throughout your career.

You can receive unreduced Social Security benefits if you wait until age 65. Starting in the year 2000, this age will gradually increase to 67. Or, you can retire at age 62 and receive reduced benefits. Your monthly Social Security checks will be reduced about 20% from the full benefit amount you'd receive if you waited until age 65. (This gradually increases to a 30% reduction for those born in 1960 or later.) Leaving the Federal Government before you retire has no effect on the Social Security benefits you receive later. All of your FERS Social Security credits (years of covered employment) still count. You may continue to add more quarters of Social Security credits as long as you work under Social Security. You can still receive reduced Social Security benefits at age 62 or full benefits at age 65 (or later as the Social Security retirement age goes up to 67).

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• Social Security