Q: If I am 53 and will have 35 years continuous service with a federal department in June of this year, can I retire when my 35th year is completed without any deduction to my pension? I am under the impression that I would receive 2 percent for each count year to a total of 70 percent. Or do I have to work until I reach 55 before I can apply for my pension?
A: You won’t be able to retire until you reach 55. By the way, there is no 70 percent limit. By law your annuity can’t exceed 80 percent of your high-3. That occurs when you have 41 years and 11 months of service. Any retirement deductions above that level would be returned to you with the option of purchasing additional annuity that, like unused sick leave, isn’t subject to the 80 percent limit.