Early buyout retirement


Q: I am 50 with 30 years of service. Will I be penalized if I take the early buyout at age 50 or at any age before my MRA of 56 years? If I draw my retirement at age 50, will I be entitled to receive my FERS supplement at age 56?

A: Yes, as a FERS employee you would be eligible to retire without the age penalty. That’s because you are at least 50 and have at least 20 years of service. As for the special retirement supplement, you’d be eligible to receive that when you reach your minimum retirement age, unless you have earnings from wages or self-employment that exceed the Social Security annual earnings limit.


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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