Early retirement


Q. I am 60 with almost 14 years with the Postal Service. I also have two years of military service that I bought back. I plan on retiring at 62 in October 2013. Will it hurt me to take a buyout if they offer one? I also worked for the railraod for 22 years prior to USPS and am eligible to collect at 62. What exactly will I lose retiring earlier than 62?

A. Because you would have fewer than 20 years of creditable service, your annuity would be reduced by 5 percent for every year (5/12 percent per month) you were under age 62.


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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