Q. If I retire at 58 with 20 years of service, what exactly do I lose? Should I wait at least until 60, or 62 or 65?
A. You would be retiring under the MRA+10 provision. As a result, your annuity would be reduced by 5 percent per year (5/12ths of 1 percent per year) that you were under age 62. You could reduce or eliminate that penalty by postponing the receipt of your annuity to a later date. If you did delay it and were covered by the FEHB and/or FEGLI program for the five consecutive years before you left, you could re-enroll when your annuity begins.