Browsing: Deferred retirement

Q. I’m considering retiring/resigning. My husband is already retired and waiting on me. I’m 53 and have 21 years in. What are my options? A. If you want to leave government now, you have only one option: You can resign and, because you have at least 20 years of service, apply for a deferred retirement at age 60. 

Q. I resigned at 56 under FERS after 16 years. I plan on deferring annuity until full benefit at 62. Am I correct that if I take benefit between 57 and 61, I am not entitled to COLA? A. Yes. With the exception of law enforcement officers, firefighters and air traffic controllers, the annuities of FERS retirees are not increased by COLAs until age 62.

Q. I am currently under FERS with 20.5 years of service and am age 55. My MRA age is 56. Can I apply for the deferred retirement to age 62 before I resign? I realize I will not be eligible for the health and life insurance. A. No, you can’t. You can only resign from the government and later apply for a deferred retirement when you are eligible for that benefit, which would be age 60.

Q. I am 46 with 23 years of service. I want to resign, take another career path, and apply for deferred retirement at 60. I want to make sure I handle the paperwork correctly. Will there be any paperwork when I resign to reflect my intent of filling for deferred retirement 14 years later? A. No, there won’t. All you’ll receive is a Standard Form 50 documenting your resignation.

Q. I’m considering resigning later this year at 54 with 14 years civil service (MRA is 56 years 2 months). I have a 20-year military retirement (retired 2004) and am considering paying the military deposit (estimate $20,000 or so). I also get $660 VA disability (40 percent) that equates to an additional $7,920 per year that wouldn’t be taken from a civilian annuity like it currently is from my military retirement. If I resign at 54 on a deferred retirement with 34 years creditable service (20 military plus 14 civilian) and don’t start taking the annuity until 60 (when it…

Q. I am 37 and have been in the Navy 20 years. I have begun the hiring process with the U.S. Border Patrol. I am an E-8. Should I try and buy back my years in military, which should cost about $8,000? Can I defer receipt of military retirement until I retire from the Border Patrol? I am also curious about the amount of buyback. Is it based on my rate of E-8 or on the total amount I made? Due to my billet and frequent deployments, I made twice what the base pay might be. I spent a lot…

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