Q. I worked for the Long Beach Naval shipyard from 1980 thru 1995, when they had a reduction in force. I chose to leave and was paid a severance when I elected not to go into the Personnel Placement program. What retirement benefits are available to me and where can I find out more information? I am currently 56 years old and am looking to retire soon.
Browsing: Deferred annuity
Q. I resigned January 2017 after 30 years federal service (age 51). I am now struggling to make ends meet and am seriously thinking about retirement. Please help me to understand the pros and cons if I take this step.
Q. Is there any benefit to postponing my retirement pension when I turn age 62? I am eligible then, as I will have the minimum five years’ creditable service through the Department of Veterans Affairs and four years’ active-duty Army. I plan to continue working in the private sector as long as possible. I would prefer to keep my government health insurance and life insurance, if possible.
Q. I want to defer my retirement and get out at 50/20. It’s my understanding that if I wait until 60 to claim my retirement, I will retire with full benefits as if I had waited until the minimum retirement age of 56 years and 8 months. Is this true?
Q. I am 47 years old and have 22 years of federal service at the Department of Veterans Affairs. I am thinking about leaving the VA to pursue other career options. I want to defer my retirement and annuity until I am 62 years old. Will there be any penalty, and am I entitled to full retirement? Will I still be eligible for health insurance?
Q. If I resign from the government, am I required to leave my money in the retirement fund to be eligible for a deferred annuity at age 60 (to avoid the age reduction)? I want to transfer my retirement fund to my own securities personal bank. To be eligible for an early out, do you have to be at your minimum retirement age?
Q. I am 56, but only have six years of government service time. Even though I’ve worked for a U.S. government agency for 31 years, only my time with government service counts toward retirement. Would I be allowed to leave the government before my minimum retirement age and take a deferred annuity at age 62? If this is possible, would I be able to keep my medical coverage?
Q. I left federal employment after 20 years of service under the CSRS retirement system at age 45 with about 1,600 hours of sick leave on record. I will be applying for deferred pension at age 62. Is the sick leave balance considered in the retirement calculation? It is my understanding that it is not because I left service early.
The countdown to the end of the year is on. Some federal employees considering retirement may be eligible for either a postponed or deferred annuity. Postponed annuity A postponed annuity is an option for FERS employees who have reached their minimum retirement age and have at least 10 years of creditable service. However, if you retire under the MRA + 10 provision, there’s a hefty financial penalty. If you have fewer than 20 years of service, that penalty is 5 percent for every year (5/12 of 1 percent per month) that you are under age 62. If you have at…