Early retirement


Q. have been a postal employee for 28 years under CSRS.  I just turned 56.  If the Postal Service were to offer a retirement package, what would I be penalized?  Would it be 4 percent because I do not have the 30 years.

A. There wouldn’t be a penalty, You’d get exaxcty what you earned. To see what that would be, use the folliwing formula:

0.015 x your high-3 x 5 years of service, plus
0.0175 x your high-3 x 5 years of service, plus
0.02 x your high-3 x all remaining years and full months of service.

About Author

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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