Q. I am a FERS employee and will have 32 years of service at age 50. I want to retire, but what penalties will I incur?
A. You can’t retire at age 50 unless your agency is undergoing a reorganization, realignment, or reduction in force and offers you that opportunity under the Voluntary Early Retirement Authority. If they did, you could retire on an immediate, unreduced annuity and begin receiving the special retirement supplement when you reach your minimum retirement age (MRA). If they didn’t, you could resign and apply for a deferred annuity when you reach your MRA. If you did that, you wouldn’t be able to re-enroll in either the FEHB or FEGLI programs.