Q. I, perhaps incorrectly, understood that a person can “declare” retiring at a time earlier than MRA and 30 years’ service, with reduced benefits (reduced pension). I’m in FERS; is this true?
A. Not exactly. You can retire at age 62 with five years of service, age 60 with 20, at your MRA with 30 or at your MRA with at least 10 but fewer than 30. In the last case, your annuity would be reduced by 5 percent for every year you were younger than 62. However, if you have at least five years of service and don’t take a refund of your retirement contributions, you can resign from the government and apply for a deferred annuity at age 62, or age 60 if you have at least 20 years of service.