Q. I turned 60 on May 17. As of this past November, I have 27 years as a fed. If I retired now, with less than 30 years, is there a penalty? How much?
A. You would be eligible for an unreduced annuity at age 60, which would be calculated using this formula: .01 x your high-3 x your years and full months of service.
2 Comments
Happy Memorial, sir,
The 10% reduction in my CSRS Offset annuity, (employment before October 1982) means the total of 7% deposit and 3% interest?
Thanks
No, that’s not how it’s done. To learn how the offset is made, go to https://www.opm.gov/retirement-services/publications-forms/csrsfers-handbook/c050.pdf and scroll to Section 50A3.1-4C.