Q. My wife is 51 years old with 28 years of service and is being fired for misconduct. Will she lose her pension/annuity if she applied at age 56 1/2?
A. She won’t lose her retirement benefit. However, if she applies for it at her minimum retirement age, she’ll be retiring under the MRA+10 provision. As a result, her annuity would be reduced by 5 percent for every year (5/12 of 1 percent per month) that she is under age 60.