New to government work


Q. I am new to the federal government. What is the benefit of my retirement plan (FERS Code KF)?

A. As a FERS employee, you can retire at age 62 with five years of service; age 60 with 20; at your minimum retirement age (MRA) with 30. (MRAs range from 55 to 57 depending on your year of birth.) You can also retire at your MRA with at least 10 years of service. However, your annuity would be reduced by 5 percent for every year you were under age 62.

Your annuity would be calculated using the following formula: .01 X the average of your highest three consecutive years of basic pay X your years and full months of service. If you retired at age 62 with at least 20 years of service, the multiplier would be increased to .011. FERS employees who retire at age 50 with 20 years of service or at their MRA with 30 will also receive the special retirement supplement, which approximates the amount of Social Security benefit they earned while a FERS employee. The SRS ends at age 62. It can also be reduced or ended earlier in you have earnings from wages or self-employment that exceed the annual Social Security earnings limit.


About Author

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

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