FERS retirement


Q. If I have worked 6.5 years of civil service in FERS and I buy back my military time (four years), will I be eligible for the MRA+10 retirement at age 57 if I leave federal work now? Also, if I work 10 years in civil service and buy back my military time, will I get 14 percent (10 + 4) of my high-3 or just the 10%?

A. Yes, making a deposit to get credit for your active-duty service would make you eligible to retire under the MRA+10 provision at 57. Your annuity would be computed under the standard formula: 0.01 x your high-3 x your years and full months of service (actual and service for which a deposit has been made). Note: If you retire under the MRA+10 provision, your annuity will be reduced by 5 percent for every year you are under age 62. You could reduce or eliminate that penalty by deferring the receipt of your annuity.


About Author

Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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