Q. I am 46 and have 25½ years of service. If I accept an offer of an early retirement, do I have to wait until I reach my minimum retirement age to start receiving my annuity? Also, will my payment for unused annual leave hours be included in my last paycheck? A. Anyone who has at least 25 years of service can retire at any age if offered an early retirement opportunity. However, you wouldn’t receive the special retirement supplement until you reach your minimum retirement age. (MRAs range between 55 and 57, depending on your year of birth.) You’ll…
Browsing: Early retirement
Q. I am planning to retire ASAP but am working out a few issues. I do not want the early retirement penalty (5/12 percent per month) to impact my retirement compensation so understanding how my military time rolls toward my retirement will dictate when I can retire. I will have 27 years of FERS service and four years of paid military time. I will have met my MRA of 57.6 yrs. Does my military credit count toward the 30 years required service time or does my military time only count toward my annuity computation? If it only counts toward the…
Q. My spouse is sick. I am 59 and have 19 years of service. Can I take early retirement and keep my health insurance and life insurance? A. Yes, you could retire under the MRA+10 provision and continue your health and life insurance coverage, as long as you had been enrolled in them for the five consecutive years before you retire. However, your annuity would be reduced by 5 percent for every year you were under age 62. Alternatively, you could ask your employer to let you work part-time and retire on a penalty-free annuity at age 60.
Q. I have 29 years of service at the age of 47. I’m under FERS retirement. Is it true that you can retire with a retirement supplement at 30 years of service age 50? And I’d be entitled to the SRS when I reach my minimum retirement age?
Q. I am 52 with 33 years and 3 months service (30 U.S. Postal Service and three in the Army). My minimum retirement age is 56 years 4 months. If I decided to leave the Postal Service now, what are the penalties?
Q. I am currently retired from the U.S. Postal Service. I was sick, asked for early retirement and was granted it. Should I have asked for disability retirement from the post office since I am disabled? If so, what should I do to ask for disability retirement?
Q. I have 4.5 year of active duty in the Army. I retired from the Army National Guard after 22 years and have worked at the U.S. Postal Service for 2.5 years. I’m 50 years old. Should I do a buy back to add to my years at the post office so that I can retire in 10 years?