Early retirement


Q. I’m a FERS postal carrier with 26 years of service. I am about to turn 49. What penalty will I face if I leave the post office at age 54 with 31 years of service?
A. You wouldn’t be eligible for an annuity until you reach your minimum retirement age, which is 57. That annuity would be computed using the standard formula: .01 x your high-3 on the day you left x your years and full months of service. You wouldn’t get any credit for your unused sick leave in the computation of that annuity. Further, you wouldn’t be able to re-enroll in either the FEHB or FEGLI programs.


About Author

Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

1 Comment

  1. I will soon be 51 years old with 25 years of federal service under Fers. Recently, I have been experiencing health related issues that have kept me out of work for a few weeks. If conditions do not improve, I believe my agency will allow me to take an early optional retirement. If I take the early retirement, can I also apply for social security disability and how would this affect me. I am getting worried about my health condition and need to understand options. Thank you.

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