Q. If my agency offered an early retirement package, and I wanted to accept (under FERS — age 56, which is my minimum retirement age, with 18 years service), how would not having the 20 years of service affect me. Am I still a candidate, and would I have to accept penalties? Or do I have to wait until I have the full 20 years?
A. You wouldn’t meet the age and service requirements for early retirement. If you still wanted to leave, you could do so under the MRA+10 provision (minimum retirement age with between 10 and 29 years of service). However, your annuity would be reduced by 5 percent for every year you were under age 62, unless you postponed the receipt of your annuity to reduce or eliminate the penalty.