Term employee benefits


Q. I am 58 years old and am separating from a Department of Interior agency due to a term employment expiration. I have 10 years in the federal system: six years as a permanent employee and four years as a term employee. The permanent position was as a GS 11 Step 3, and the term position is a GS-12 Step 5.

I am trying to find information regarding retirement options. Where can I look for this kind of information? Specifically, I’d like to calculate how much I may receive if I start taking a pension now, and how much I would be eligible for if I hold off until I’m 62 years old, four years from now.

A. Go to www.opm.gov/retire/pubs/handbook/hod.htm and review chapters 42 (MRA+10 Retirement) and 45 (Deferred Retirement). Then review the FERS portion of chapter 50 (Computation of Annuity Under the General Formula).


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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