Eligibility for Social Security supplement

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Q: I am a Federal Employees Retirement System employee. I’m planning to retire in 2011 with 12 years of service at the age of 60 years, 4 months. I would like to know if I am eligible for a special supplement from Social Security. Also, am I subject to a penalty of five percent?

A: No, you won’t be eligible for the special retirement supplement. No one who retires under the Minimum Retirement Age+10 provision is eligible for the SRS. Yes, your annuity will be reduced by five percent for every year (5/12 percent per month) that you are under age 62. You can, of course, reduce or eliminate that reduction by postponing the receipt of your annuity to a later date.

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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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