Q. I resigned from federal service with 21 years of service: 20 in FERS, one in CSRS. At the time I resigned, I was not yet at my minimum retirement age. I now meet the MRA+10 rules and am ineligible for any CSRS refunds. Can I wait until age 60 and qualify for an unreduced annuity under the age 60 with 20 years of service provision? Is it better to take the reduced annuity today?
A. Yes, you can wait until age 60 and receive an unreduced annuity. Whether it’s better to take the reduced annuity now or wait until later is a matter for you to decide. One factor in that decision will be the 5 percent per year reduction for every year (5/6 percent per month) that you are younger than age 60.
