Q. I have read several of your responses to MRA+10 retirement questions about how to avoid a reduced annuity by postponing benefits. In some responses, you have given the age of 60 and in others the age of 62 even though they all had over 20 years of service. So I am confused. If I retire at the age of 56 with 25 years of federal service, can I collect unreduced benefits at the age of 60, or do I have to wait until age 62?
A. If you retire under the MRA+10 provision, you can postpone the receipt of your annuity to a later date to reduce or avoid the 5 percent-per-year penalty. If you have at least 20 years of service, you can receive an unreduced annuity at age 60. If you have fewer than 20 years, you’ll have to wait until you are age 62 to receive an unreduced annuity.
If you resign from the government before meeting the age and service requirements to retire and have at least 20 years of service, you can apply for an unreduced annuity at age 60. If you have fewer than 20 years of service, you can apply for a deferred annuity at age 62.
FYI: Neither employees who retire under the MRA+10 provision nor deferred retirees are eligible to receive the special retirement supplement.