Q. What is discontinued service retirement? Will you keep your health benefits? As of March 7, 2017, I reached my minimum retirement age of 56. I have 24 years of service.
A. Because you are already eligible to retire on a immediate annuity under the MRA+10 provision (minimum retirement age with at least 10 years of creditable service), the discontinued service retirement option doesn’t apply to you. If you retire now, your annuity would be reduced by 5 percent for every year (five-twelfths of 1 percent per month) that you are under age 60. You could reduce or eliminate that penalty by delaying the receipt of your annuity to a later date. If you retire now, your FEHB and FEGLI coverage would continue. If you delay the receipt of your annuity, you could reenroll in either or both programs when your annuity begins.