Q. I’m 50 years old, under FERS and have 32 years of service. I plan to retire at 56 with 37 years with the U.S. Postal Service. Will I be eligible to receive a supplement from OPM until I reach full retirement age? Is there money through USPS that I would receive?
A. Because you were born in 1966, the earliest you could retire is when you reach your minimum retirement age, which is 56 years and 4 months. If you retired then, you’d be entitled to the special retirement supplement, which approximates the amount of Social Security benefit you earned while a FERS employee. You’d continue to receive the SRS until age 62, when you’d be eligible for a Social Security benefit. Note: The SRS would be reduced or eliminated it you had earnings from wages or self-employment that exceeded the annual Social Security earnings limit.
The only money you could receive from USPS would be a lump-sum payment for any unused annual leave, not to exceed 440 hours.
2 Comments
I was told the way to calculate how much the supplement would be is based on 75% of the amount I would get at age 62 is that correct?
I’ve never that and doubt that it’s true.