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.


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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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