Q: I am a retired Air Force veteran of 26 years (1968-1994) and soon will become eligible for a 10 years of service under FERS. I will also become eligible for early Social Security benefits at age 62 at the same time. Both my military and federal civilian careers paid into Social Security. Because I am drawing two federal retirements, will my Social Security benefits be reduced/penalized?
A: No, you won’t be penalized. Your Social Security benefit will be based on all your years of Social Security-covered employment.