Q. I am 58 years old and, in November, I will have 25 years in the Postal Service. I am under FERS. Can I retire if they offer an early retirement for me? A. Yes. Under the early retirement rules, you can retire at any age when you have at least 25 years of service.
Browsing: Early retirement
Q. I am a 55-year-old FERS employee and have 30 years in the Postal Service. Am I eligible for early retirement? A. Yes, if one is offered to you. Because you have at least 25 years of service, you could retire at any age. Note: If you aren’t offered an opportunity to retire early, because you were born between in 1953 through 1964, you could retire on an immediate, unreduced annuity at age 56.
Q. I am 54 years old with a bit more than 20 years of FERS employment. I believe I will need to quit my job soon due to family medical care reasons. My agency is not offering any early-outs. If I quit before my minimum retirement age of 56, then wait until I am 60 to apply for my annuity, will I face any reduction in annuity due to either being less than 62, or because I resigned prior to my MRA? A. Because you have at least 20 years of service, if you were to resign, you’d be eligible…
Q. I am a Postal Service FERS employee with 24½ years of service. If the USPS offers early retirement with an additional two years of service, will I be eligible to retire with 26½ years of service? Or must an employee actually have 25 years of creditable service prior to being offered retirement? A. How many times do I have to say it? Neither the U.S. Postal Service nor any other agency of government can add years to increase the amount of an employee’s service nor tack them on to increase his age.
Q. I am 40 years old and have 22 years of federal service as a FERS employee. I am eligible for retirement with 25 years/no MRA with an early-out, deferring retirement until age 57, correct? Can I keep my benefits from age 43 until 57, or at least have the benefits at 57 during retirement? I have been enrolled for 22 years. Also, if there is no early-out offered, what is the earliest age I can retire with so many years? By the time I’m 50, I’ll have 32 years in. A. You appear to misunderstand the rules. If you were…
Q. I am a federal law enforcement officer with the Department of Homeland Security. I have more than 23.5 years of federal service, 17 years as a covered 6c LEO and 6.5 years in a noncovered LEO position with the old legacy Immigration and Naturalization Service that now has “enhanced retirement’ coverage since I transferred to DHS security in my current capacity. I have special circumstances dealing with my very elderly parents who require full-time care and management and I am the only sibling capable of providing that care. Are there any hardship provisions allowing for me to retire early,…
Q. I am 60 with almost 14 years with the Postal Service. I also have two years of military service that I bought back. I plan on retiring at 62 in October 2013. Will it hurt me to take a buyout if they offer one? I also worked for the railraod for 22 years prior to USPS and am eligible to collect at 62. What exactly will I lose retiring earlier than 62? A. Because you would have fewer than 20 years of creditable service, your annuity would be reduced by 5 percent for every year (5/12 percent per month) you were under…
Q. I am a federal employee with 25 years of service at age 50. if I take early retirement, will I be penalized? I am disabled with no term of disability. If I am disabled for some reason, who will determine how much I can draw in payments. I am under FERS. A. If your agency offers you an opportunity to retire early, your annuity wouldn’t be subject to the age penalty applied to the annuities of those who retire under the MRA+10 provision. If you were to be approved for disability retirement, your annuity would be calculated using the standard formula…
Q. I am 43 years old. I have been at the VA for 13 years. My minimum retirement age is 56 years and 10 months. I plan on retiring at age 54. I understand my pension will be calculated by 0.01 times the average of 3 highest pay years and times 24 years of service. Will there be a 5 percent penalty for each year that is not at my MRA, thus for me it’s two years 10 months. If so, can I retire and not collect on my pension until age 56 years and 10 months and avoid the…
Q. I retired (took an early out with 27 years of service) in 1997 at 52 under CSRS. I have been working in private industry since 2000. I understand that if I went back to work for the government, my CSRS pension would be deducted from my salary? What about hard to fill jobs, such as low-paying jobs with the Army and Air Force Exchange Service in Europe? A. While every agency has limited authority to hire retirees to meet critical needs and allow them to receive both their annuity and the full salary of a position, the Defense Department has broader authority to…