Q. I am a GERS employee with the U.S. Postal Service. I have 18 years of service and will reach my minimum retirement age next year. Would it make sense to retire and take the annuity, or postpone it until I’m 60 or 62? I can be covered under my husband’s insurance.
A. If you retired now and accepted your annuity, it would be reduced by 5 percent for every year you were under age 62 (five-twelfths of 1 percent per month). If you postponed the receipt of your annuity until age 62, you’d avoid the reduction, but the amount of your annuity may be frozen at the point you left government. Whichever option makes better sense financially is something you’ll have to decide.