Q. I am 51 years old with 27 years of service with the Post Office. I am under FERS. Half of my 27 years have been in a part-time regular position (24 hours per week). The last three years, I have been in full-time status. I am thinking of retiring if a VERA is offered. How are creditable years accrued? Will I be eligible? Will I have added deductions? I am worried if I don’t retire when the next VERA is offered, the supplemental retirement pay will be eliminated before I reach 56 (my minimum retirement age) and I would have to wait until I am 62 to be able to afford to retire.
A. Even though you were part time, for length-of-service purposes, those years will be counted as though you were full time. However, your annuity will be proportionately reduced to account for your having worked less than full time during your career. To see how that’s done, go to www.opm.gov/retire/pubs/handbook/C055.pdf and scroll down to Part 55B2, “Computing FERS Annuities That Include Part-Time Service.”