Q. What happens to the special retirement supplement if I worked until age 62? … even though I am eligible to retire at age 56, with 31 years of service? Do I lose the SRS completely? It would total about $106,000 between ages 56-62.
A. The only purpose of the special retirement supplement is to help a FERS retiree bridge the gap between his retirement and his eligibility for a Social Security benefit. It you work until age 62, you won’t get it or need it. Note: Even if you were to retire before age 62, began receiving the SRS, and had earnings from wages or self-employment that exceeded the Social Security annual earnings limit, your SRS would be reduced or eliminated. In 2010 that limit is $14,160.