Q. I am a reinstated federal employee with the Bureau of Prisons who is 59 years old and has 15 years of service time. I want to retire under the minimum retirement age and understand there is a five percent penalty for every year under the age of 62. But, am I able to keep my federal health insurance until I reach age 65?
Browsing: Minimum retirement age
Q. A recent post stated you can receive your FERS retirement benefits calculated at the rate of .011 with 20 years of service at age 62. Does this benefit rate of 1.1, apply if you resigned your employment before the minimum retirement age, have more than 20 years of service and elect to receive a deferred retirement at age 62? At age 60, benefits are calculated at .01. Is there a choice?
Q. I have 31 years of federal service at age 50: 27 Civil Service and 4 military which I bought back. Do I wait to fill out my retirement paperwork near my minimum retirement age, or do I fill that out at the time I resign? I read that because I have five point preference that my reinstatement rights don’t have a three year time limit? If I resign and then apply for a federal job and get hired at age 55, work one year and then retire at my MRA of 56, would I be eligible for the Social…
Q. I am a federal law enforcement officer and currently have 22 years of service. I’ll turn 46 in March of this year. I also have five years of Marine Corps time that I was active duty. I understand the rule that I can retire at any age with 25 years of creditable service or retire at age 50 with 20 years of service. I will fall into the 25 year rule, since I will be less that 50 when I am eligible. I know I am supposed to get a Social Security bridge when I retire until my regular…
Q. I retired on Jan. 31, 2014, under an offer of early retirement and will not reach my minimum retirement age until August 2014. Can I apply for special supplement income prior to my MRA knowing it takes time to process or do I have to actually wait until I reach 56 years of age?
Q. This is a two part question. I’m a FERS employee with a minimum retirement age of 56 1/2. I would like to retire at my MRA if possible but want to make sure I understand the penalties and rules. First, I will be about 1 1/2 years short of 30 years with the government at age 56 1/2. It’s my understanding that I can still retire at that age but can postpone receiving an annuity to avoid the 5 percent per year penalty if I don’t take benefits until age 60. Is this correct? Second, if I decide to…
Q. I am currently employed with the Bureau of Prisons,and in three years, I will have 20 years law enforcement time. But I will only be 48 years old. Can I just retire from the BOP in three years with total of 20 years law enforcement at age 48? I’d wait until I am 50 years old and start collecting my retirement. From age 48 – 50 I plan just to work at Wal-mart or a grocery store. I also bought back 6 years of my military.
Q. I have 25 years of service in the federal government, and I’m 48 years old. If I leave government service now, when would I receive my pension if I take a deferred annuity. If I start at the minimum retirement age, would there be a reduction for every year I’m under age of 62? What if I wait and leave federal service at age 53 with 30 years of service? Would there still be a reduction in pension if I began receiving my pension at the minimum retirement age, even with 30 years of service? Also, at what age can I…
Q. I am 50 years old. I did six years active duty which I have not paid back to get credit, and I have 24 years civil service. I had a heart attack two years ago. I have a stint and defibrillator, but I am able to work. There is no way my boss would give me a positive disability letter. I have a little different outlook on life now. I’d like to travel, etc. Luckily, I have a few hundred thousand in my Thrift Savings Plan. What are my retirement options, if any, right now? I know I have…
Q. I worked for the USPS from 1989 – 1999 as a full time Clerk. Will I get a retirement pension of benefit in the future? When it will be and how much monthly payment I can get?