Q. I can’t wait for another year to stay with my agency. What would I lose if I retired at 61 instead of 62 years old?
A. Assuming that you have at least 20 years of service, your annuity would be computed using the .01 multiplier instead of .011 if you waited to retire until age 62. If you had fewer than 20 years of service, it wouldn’t make any difference. The multiplier would stay at .01 under either scenario.