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: Special retirement supplement
Q. I’m a FERS employee who will be retiring soon. Will I be entitled to the special retirement supplement? A. The special retirement supplement is payable immediately to those who retire at age 60 with 20 years of service or at their minimum retirement age with 30. If you retire under an early retirement authority, it’s payable at your MRA. No paperwork is needed to receive the SRS. Three things to keep in mind: 1) The SRS is never payable to those who retire under the MRA+10 provision or who leave government and apply for a deferred annuity. 2) The…
Q. If a person retires voluntarily at age 60 and is receiving the regular FERS annuity plus the special retirement supplement, will that person also be able to collect Social Security Disability (if approved) at the same time? A. Yes.
Q. I am a federal law enforcement retiree (I left service in 2015) and get my FERS annuity and special supplement. I was recently approved for Social Security Disability. Does SSDI affect my supplement, i.e., is it considered wages that count against the supplement limit on earnings? Will my FERS annuity be affected? A. Your special retirement supplement won’t be affected. That’s because only earnings from wages or self-employment can affect that benefit. Social Security Disability Insurance is neither.
Q. My husband and I were both federal employees and took the Voluntary Early Retirement Authority. The minimum retirement age for both of us is age 56. Will we both be eligible to receive the special retirement supplement at the MRA, or will only one of us receive the supplement at MRA? A. You will both be eligible for the SRS when you reach your MRA. Reg Jones is away until May 2. Daily posts of previously submitted questions will continue, while newer queries will be answered following his return.
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. Hi, I have just retired under FERS after 34.5 years at the U.S. Postal Service. I understand that Social Security will penalize me if I earn more than $17,640 per year. I know they take $1 for every $3 that I earn over that amount. Do I just lose that money?