VERA and the special retirement supplement

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Q. If I accept a VERA and have fewer than 30 years of service, will I still still get the special retirement supplement when I reach my minimum retirement age? How do they calculate the payment?

A. Yes, you will be entitled to the special retirement supplement when you reach your minimum retirement age. To estimate how much the SRS would be, take the estimate of your Social Security benefit provided by the Social Security Administration, multiply it by your full years of FERS service, and divide the total by 40.

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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.

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