Q. I am 58 years old, under FERS, and in November, I will have 25 years of service. Am I eligible to retire?
A. Yes, you can retire under the MRA+10 provision; however, your annuity would be reduced by 5 percent for every year you are under age 62. You could, of course, reduce of eliminate that penalty by retiring and postponing the receipt of your annuity to a later date.
If you don’t want to retire under the MRA+10 provision (and your agency doesn’t offer you an opportunity to retire early), you’ll have to stick around to age 60. Since you have at least 20 years of service, you could retire then on an immediate unreduced annuity.