Q. I was informed by my local human resources and retirement benefits representative that under FERS, with 30 years of credible service, I am eligible for retirement at any age (I am age 50, with 20 credible years of service) without reduction in annuity payments. Does this seem correct?
A. It isn’t correct. To retire on an immediate, unreduced annuity, you would need to meet one of the following combinations of age and service:
- Age 62 with 5 years of service.
- Age 60 with 20 years of service.
- At your minimum retirement age (MRA) with 30 years of service.
You could also retire at your MRA with at least 10 years of service; however, you annuity would be reduced by 5 percent for every year you were under age 62.
The only time you could retire at age 50 with 20 years of service (or at any age with at least 25 years) would be if your agency offered you that opportunity under the Voluntary Early Retirement Authority or with a Voluntary Separation Incentive Payment.