Q. I am eligible to retire at age 57 with eight years of CSRS, followed by approximately 24½ years of FERS service. I had employment in the private sector prior to my Postal Service career. The last printout I received from Social Security indicates “at age 62, you will earn approximately $…” This figure includes those years in private sector. How do I accurately figure the special supplement figure that I can anticipate receiving, since that is based solely on FERS employment years?
Also, I am trying to determine what income I will have for the months immediately following retirement. How many months can I anticipate receiving the “interim” annuity check from the Office of Personnel Management? How far behind is OPM?
A. You can estimate the amount of the special retirement supplement by using the following formula:
Social Security benefit estimate x total years of FERS service rounded up to the next higher year divided by 40. To answer your last questions would call for powers that I don’t possess. However, word has it that interim payments are being made more swiftly now.
