Q. I am retired military and became a government employee (GS9) on Nov. 1, 2010, under FERS. I did not return my military retirement into the FERS system. I will be 62 in July 2016, but I would like to retire at the end of May 2016. I think that my My MRA is 55, and as of now, I have over five years of service. I believe that I am eligible under the 62 years/ five years service retirement. How much will I lose by retiring at the end of May versus staying until July 9.
A. Although you will have more than five years of service, you won’t be eligible to retire until you reach age 62. Since you won’t be 62 until July 2016, you can’t retire in May.
2 Comments
I am a FERS employee with 29 years of service and I am planning to retire when I hit 62 years (2020/2021).
My birthday is in December and my date in service is Jan. When is my best day to retire, Dec, Jan or any other date.
You’ll find my most recent column on the subject at http://retirement.federaltimes.com/2015/09/28/picking-the-best-date-to-retire