FERS retirement


Q. I have two years of temporary services. What are the pros and cons of buying back the temporary time?
I am approaching my 27th year of government services in June. Under FERS, at what age can I retire and get my TSP monies without being penalized?

A. If your temporary service was performed before January 1, 1989, and you made a deposit for that time, including accrued interest, your annuity computation date would be increased by two years and your annuity would be increased by 2 percent. You’d have to compare the cost of making the deposit with the amount you’d gain in your annuity to see if it’s worth doing. If your temporary service was performed on or after January 1, 1989, you would be barred from making a deposit. Therefore, you wouldn’t get any credit for that time.


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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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