Browsing: Deferred annuity

Years to be vested

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Q. I’m in the FERS program. Do you know how many years of service are required in order to be vested? If I leave government service after almost eight years, will I be vested in my TSP and annuity? Will I receive a pension? A. You’ll be vested in the retirement system when you have five years of full-time service. If you leave your contributions in the retirement fund and leave government, you’ll be entitled to a deferred annuity at age 62.

Deferred FERS retirement

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Q. I plan to leave government employment within the next year, at age 50, with about 15 years accrued service. I will defer my pension until I am 62. Everything I read discusses elections for survivor benefits as the pension payments begin. What if I were to die before the annuity begins? What benefit will be provided to my surviving spouse and minor child while I have deferred my pension payments? A. Because you have at least five years of service, if you left your retirement contributions in the fund when you resigned and later died, your spouse would be…

Pre-MRA retirement annuity, and where sick leave goes

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Q. I am 51 and was born in 1961. I work in FERS. My MRA, I believe, is 56. I have 28 years in federal service. Will I get an annuity if I retire now before my MRA? If I do get an annuity, how big a reduction will it be from the pension I would get if I retired at 56? Also, I have seven months of sick leave. Do I lose it all when I retire, or does it get applied as service credit?

Military and law enforcement service and retirement

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Q. I am a veteran with six years of active-duty service, and I am employed as a federal law enforcement official with seven years of service under FERS. I am considering leaving federal service. Am I eligible for any retirement benefits after age 62, or do I simply lose the 13 years that I have in military and civilian service?

FERS retirement options

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Q. I have some vague idea that some benefits are linked to completing 10 years of federal service, but I can’t find details or facts. I’m under FERS, have a service computation date of 2004, have worked full time since 2007 and worked TERM appointment 2004-2007. I thought I would last until 2014. However my elder parent and young grandchild could both use my service and time, and thus I am considering leaving before my 2014 date and working from home in a nonfederal job. How would that affect my benefits — just resigning before 10 years? I’m only 55…

Retirement and rehiring under FERS

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Q. I am a 51-year-old Defense Department employee with 13 years of continuous service under FERS and am considering relocating out-of-state and working in the private sector. Since my MRA is 56, I am not eligible for the optional (voluntary) retirement or MRA+10. My plan is to apply for a deferred annuity and leave my FERS retirement untouched after separation to avoid benefit reductions. However, I plan on returning to federal service. Having recently attended the FERS midcareer retirement planning workshop, I am aware of the pros and cons of each retirement option. More specifically, under MRA+10, FEHB and FEGLI…

Retiring at 30 years with FERS

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Q. I am a FERS employee with 22 years of service. I will have 30 years of service in eight more years and will also be 50. Can I retire with 30 years of service and collect (i.e., request an early retirement package)? I’ve read the deferred retirement, but my understanding is I would not be able to receive a pension until my MRA, 57.

Retirement options before MRA at 20 years in

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Q. I entered federal service as a 1811 in 2001. I will reach 20 years of service in 2021 and would like to retire (at 20 years), but I will only be 46 years old. Can I retire with partial retirement and then, upon reaching age 52, receive full retirement benefits? OR am I required to have 20 years and minimum retirement age? I am confused as to when I can retire as an 1811.

FERS combined employment time

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Q. I left civil service with just shy of 21 years of combined time (bought back 14 years of military) in November 2011 at age 44 (1967). I did not withdraw any money from FERS, but I moved my TSP to an annuity. My intent was to just apply for a deferred retirement at age 62 to avoid penalties. However, if I returned to Civil Service before 62, how many years would I have to work to be eligible for full health benefits under FERS? I also assume that if I returned by age 47 and worked until 56, I…

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