Q. I am a 61-year-old FERS employee with 25 years of creditable service. I turn 62 in May 2019. My agency is eliminating my position prior to me reaching age 62 and there will be no other position available. I was planning to work until age 62. Do I really lose the 10 percent increase in my retirement computation?
A. Yes, your annuity will be computed using the standard formula (01 x your high-3 x your years and full months of service) not the enhanced one you would have been entitled to if you had retired at age 62.
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This person can if possible apply for another FedGov Civil Service position they are qualified for with another agency in their area if they want to keep working in civil service beyond age 62!