Q. Does the 5 percent annual penalty for retiring under the MRA at age 56 cover the lifetime of distributions, or only until one reaches age 62?
A. If you retire under the MRA+10 provision (minimum retirement age with at least 10 but fewer than 30 years of service), your annuity will be permanently reduced by 5 percent (5/12 percent per month) that you are under age 62.
