SRS

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Q. I would like to know if I retire under FERS on December 29, 2017, and have 30 years and 11 months service and am 56 years old, will they calculate my supplement as having 30 years or 31 years? That would make a difference from 75 percent with 30 years and 77.5 percent with 31 of my Social Security at 62. Would I need to go an extra month to get the 77.5 percent? It says to the nearest whole number.

A. In accordance with 5 U.S.C. 8421, OPM will round the total years of service to the next higher number if the total months are 6½ or more.

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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

2 Comments

  1. Since you really didn’t get your question answered, I interpret “nearest whole year” as YES OPM will round up to the next full year. Hopefully Reg will confirm this as I see nothing in the link provided that only says they will round down… Question should be, will OPM only round down to figure benefit years?

    • In accordance with 5 U.S.C. 8421, OPM will round the total years of service to the next higher number if the total months are 6½ or more.

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