Q. I am planning on retiring at the end of December. I am in the Civil Service Retirement System and have over 31 years in the legislative branch, where I am still employed. I also have another 14 months in the executive branch, for a total of 32 years, five months. I will be 53 in late December, so will I be penalized for not quite reaching age 53? I realize I already have to take a 4 percent reduction because I’m under age 55. My retirement counselor advised me to retire at the end of November instead of December so I…
Browsing: legislative branch
Q. I am covered by CSRS and I’ve worked under the legislative branch for 16 years and the executive branch for 12 years. How will my retirement annuity be affected by working under the different branches? I am being offered an early out. I see mentioned the enhanced formula will be used for the legislative branch service but do not know what that is. A. Your service as an employee of the legislative branch will be calculated as follows: 2.5 percent x your high-3 x your years and full months of legislative branch service. Your executive branch service will be…