Browsing: MRA + 10

Q. I’m under. I know, under MRA +10, I need to have more than 10 years of service and have to be at least 57 to retire before my minimum retirement age with a 5 percent-per-year reduction for each year under 62 or retire at 60 with no reduction. If I have one year of unused sick leave accrued by the time I’m 59, could I retire at 59 and have my year of unused sick leave credited toward my years of service to avoid the reduction of 5 percent, or do I still have to work until 60 to avoid reduction…

Q. I am 54 years old with 16 years of federal service under FERS. I am eligible to retire at my minimum retirement age (56) on the MRA+10 option. At that time, I will have approximately 700 hours of unused sick leave. Can I apply the unused sick leave to my time in service, reducing the amount my annuity is cut? If I retire at 60 with 22 years of service, my annuity will not be reduced, but my accumulated sick leave becomes worthless, correct? Can I retire at 59½ and apply the sick leave to the end of my…

Q. I am a FERS employee with 14 years at Department of Agriculture, and will turn 60 this month. I plan to retire in January under MRA+10 but want to postpone receiving my annuity until I reach age 62 to minimize the 5 percent-per-year reduction. My wife (nonfederal) and I have been enrolled in Federal Employees Health Benefits family coverage for the past 14 years. Can I continue my existing FEHB family coverage during a postponed annuity (at my own expense, plus 2 percent, for 18 months from my retirement date) at the conclusion of which I’d begin my annuity,…

Q. I was separated (resign or be fired) from the federal government in 2007 after more than 21 years of service. Twenty of those years were under FERS and the remainder were under CSRS. I was involuntarily converted to FERS in 1987. During 2007, I was not eligible for the MRA+10 retirement, but now I meet the requirements. I understand that I am eligible for an unreduced annuity at age 60. Can I wait until age 62 to receive a higher benefit amount? Do I get any credit for contributing to CSRS for one full year? How many months before…

Q. Is there any benefit in waiting until age 62 if the previously separated annuitant is eligible for a deferred annuity at age 60 under the provision for 20 or more years of service and meets MRA+10 eligibility? Would the benefit at age 62 be higher than at age 60? If so, how much higher?

Q. I am 50 years old with 20 years of service from the military (retired). I have 10 years federal service. Do I qualify for Voluntary Separation Incentive Pay? If not, OPM Form 1496A is the application For Voluntary Early Retirement. Do I submit Form 1496A prior to terminating my employment or wait until I reach the minimum retirement age?

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