Browsing: RETIREMENT

Q. I’m retiring soon at the mandatory age for firefighters at 57 years old after 30 years of service. I understand the Social Security Administration supplement will be paid out until age 62. Can the supplement continue past 62 if I choose to wait to elect collecting Social Security until age 67, the full-retirement age? I’m staying at the fire department until the last possible day before the mandatory age requirement kicks in, but I’m concerned of a potential five-year gap and/or not receiving the supplement between ages 62-67. If the supplement stops entirely at 62, then I’d feel a bit…

Q. If I resign from the government, am I required to leave my money in the retirement fund to be eligible for a deferred annuity at age 60 (to avoid the age reduction)? I want to transfer my retirement fund to my own securities personal bank. To be eligible for an early out, do you have to be at your minimum retirement age?

Q. I am 56, but only have six years of government service time. Even though I’ve worked for a U.S. government agency for 31 years, only my time with government service counts toward retirement. Would I be allowed to leave the government before my minimum retirement age and take a deferred annuity at age 62? If this is possible, would I be able to keep my medical coverage?

Q. I retired with 30-plus years of federal government service. If I accepted a job with the U.S. Postal Service, will my retirement continue? I’m curious because the Postal Service branched off from the rest of the civil service agencies. A. Yes, your annuity would continue. However, the salary of your new position would be reduced by the amount of your annuity. While the U.S. Postal Service is an independent agency of the federal government, all its employees are covered by the same retirement system as other government agencies.

Q. I’m 24 years retired from the military and currently a federal employee under FERS. The Employee Benefits Information System reflects I am eligible for MRA+10 by December 2024. By then, I am 56 years old. Will I be illegible for SRS if I retire at my minimum retirement age?

Q. I will have 30 years of service in October 2018, but I will only be 55 years old as of Aug. 29, 2018. I am so ready to retire — with the stress of the U.S. Postal Service and my family stresses, I cant endure another year of service. Can I retire in October 2018?

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