Q. I am planning to retire Aug. 15 with 37 years, two months and 12 days under CSRS. I will be 60 years old. I know if I stay more than 40 years, I will get 80 percent of my salary. What I don’t understand, according to my retirement estimates, is that after age 62, I will be getting less of an annuity each year. How can this be?
A. It can’t be. Something is wrong with either the estimator you are using or the data you are putting into it. Part of the problem may be that you misunderstand how long you have to work to receive an annuity that equals 80 percent of your high-3. It isn’t 40 years; it’s 41 years and 11 months.