Q. I’m a CSRS employee. Is it possible to take a penalty retirement with age (55) and less than 30 years of service? What about 30+ years but not 55?
A. The only way you could retire without being at least 55 and having at least 30 years of service would be if your agency offered you an opportunity to retire early under the Voluntary Early Retirement Authority. Employees who have at least 20 years of service can retire at age 50 or with 25 at any age. However, if they are under age 55, their annuities will be permanently reduced by 2 percent for every year they are under age 55 (1/6 percentage point per month).