Q. I am 54 years of age (born Dec. 2, 1958) and under FERS. I have 27 years of federal service. Can I: 1. Resign today and postpone receipt of my pension until I have 30 years of service? 2. Retire today and start receiving my pension? What penalty would I receive?
Browsing: Minimum retirement age
Q. How will Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay affect my retirement benefits (annuity supplement, pension and Thrift Savings Plan withdrawals)? I am a Defense Department civilian, age 58, with 21 years of service under FERS.
Q. I served seven years and eight months on active duty, am in the Air Force Reserve and have been a civil servant for the past 10 years. I am not sure if I will stay a civil servant, but if I buy back my active-duty time, I would have just over 18 years federal time to apply toward FERS. Will buying back my active-duty time for civil servant retirement affect my reserve retirement when I reach age 60? I realize I can’t draw the civil service retirement until age 57.
Q. I am a 55-year-old engineer in the Federal Aviation Administration and offered the Voluntary Separation Incentive Pay. Does the $25,000 VSIP payment negate the special retirement supplement when I reach my minimum retirement age (next year)? Or would I still get that when I turn 56 (my MRA)?
Q. If you have 14 years law enforcement (6c coverage) and switch to nonlaw enforcement and retire with 30 years at the minimum retirement age, would you calculate the rate at 1.7 percent x 14 years and 1 percent for the remaining 16 years, or do you lose all of the law enforcement benefits?
Q. I am eligible for immediate FERS retirement at my minimum retirement age with more than 10 years of service. I am considering retiring under these conditions (including the 5 percent-per-year-under-62 penalty). But I understand that Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay is under consideration in my agency Department of Justice. If I submit a retirement application before VERA/VSIP is offered, am I ineligible for VERA/VSIP?
Q. If I bought back (17 years) of active duty and was a FERS employee for 16 years, am I eligible at my minimum retirement age to receive my full annuity without a reduction? Or do I have to have 25 years of purely federal civil service to retire at MRA without a reduction in benefits?
Q. I have my minimum retirement age and 30 years of service. If I retire now (buyout), will my retirement check be recalculated when I turn 62 (1.1 percent vs. 1.0 (high-3 years) x years of service = retirement check)?
Q. I plan to work until my minimum retirement age, which is in eight years. I work part time (80 percent of the time) and will have worked for the government for 35 years (1986-2021). But my total service computation years will only be 27 when I reach my MRA. Will I be eligible for the MRA plus 30 because I worked for 35 years or only the MRA plus 10 (with the significant penalty) because I worked 27 years based on the service computation?
Q. I’m a FERS employee. I’m 50 years old with 26 years with the Veterans Affairs Department and four years in the Air Force. If I buy back my military time, will it allow me to retire earlier? What age can I retire?