Q. I currently have 23 years of law enforcement experience and just reached 50 years old, so I am eligible to retire. If I accept a TERM position with the FDIC, can I still retire at any time, or do I need to reach MRA for my age group?
If I keep the law enforcement retirement, who handles the retirement when I do decide to go? How will the FDIC time count toward my retirement calculations?
A. Having met the age and service requirements to retire under the special provision for law enforcement officers and firefighters, you can move to another federal position and still retire whenever you want to. And you can have your LEO annuity computed under the enhanced formula.
Since FDIC employees are covered by the same retirement system as the one you are currently in, they would handle your retirement application. Any time spent as one of their employees would be added to any service in excess of 20 years and computed under the standard formula.