RIF and penalty on annuity

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Q. If I am RIF’ed under FERS with 24 years of service at age 58 in September 2014, am I going to be penalized 5 percent per year on my annuity for being under 62 years old, or is there no penalty? I am an EAS employee with the Postal Service.

A. If you are hit by a reduction in force and retired, the age penalty would be waived.

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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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