Q. I work for the USPS. I was born in 1967. Therefore, my minimum retirement age is 56½. Let’s assume I retire on my 57th birthday. By that time, I will have a little more than 27 years of service time. (I started in 1997, when I was 29½.) According to other federal websites, the special retirement supplement is given for: 30 years and at the minimum age; at least 20 years and you receive the supplement when you are age 60; with an early out, as is happening this year, you get the supplement but you have to wait…
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Q. I am 48 and have 30 years of federal service. I work for the Department of Veterans Affairs and have not heard any discussions about buyouts, early outs, etc. What options do I have for early retirement, buyout, resign, etc.? In my opinion, if someone has worked 30 consecutive years, there should be no minimum retirement age. A. That may be your opinion, but it isn’t the law. If you want to leave before you meet the age and service requirements to retire, you can do that. You have two choices. You can either stick it out until you…
Q. Before retirement under FERS, I canceled my Federal Employees Health Benefits to be covered by my wife’s FEHB. Now my wife is resigning. She has no minimum retirement age with 25 years. She will not be allowed to continue FEHB. Am I allowed to re-enroll in self and family (code 2F) as a retiree with 35 years (33 self, two under wife) of FEHB? If I am, how soon can I re-enroll? A. Yes. And you can do it from 31 days before the loss of coverage through 60 days after.
Q. I have 27½ years in the Postal Service and I am 52½ years of age. If an early-out comes in the next few months, will I get a penalty for leaving? Do I get my special retirement supplement, or do I have to wait for that? Also, do I get to take my Thrift Savings Plan now, or do I wait for that? A. Reg: If you were offered an opportunity to retire early, you have the age and service needed to accept it. If you did, you wouldn’t be subject to the age penalty and you’d be entitled…
Q. I worked for the Department of Justice for 10 years’ 6(c) coverage, and I worked for the Federal Air Marshal Service for almost 11 years, also 6(c) coverage. I also have six years of military service I bought back. I had to leave federal service to take care of my parents. I’m only 46; can I collect a retirement when I turn 50? A. No. You’ll have to wait until you reach your minimum retirement age.
Q. If I have less than three years in civil service but qualify for retirement based on military time I bought back, what is my high-3 calculated from? A. Your annuity will be based on your combined civilian and military service for which you made a deposit. However, you don’t qualify for retirement. To do that, you will need to have five years of actual civilian service and meet the age and service requirements: 62 with 5 years, 60 with 20 years, at your MRA with 30 or at your MRA with between 10 and 29 years. In the last…
Q. Are there pay differences in FERS retirement after 20 years versus retiring at 18 years? A. The simple answer: In most cases, the difference will be 2 percent because the standard formula is .01 x your high-3 x your years of service. However, the simple answer leaves too much out. You are eligible to retire only when you meet the age and service requirements for an immediate unreduced annuity, which are: 62 with 5 years of service, or 60 with 20, or at your minimum retirement age (MRA) with 30 You can also retire at your MRA with at…
Q. I am a 56-year-old postal carrier with 26 years of service. Am I eligible to receive the special retirement supplement? I meet minimum retirement age requirements. However, I don’t have 30 years. A. You would only be eligible for the special retirement supplement if you accepted an early retirement offer made by your agency. If you weren’t, you’d be retiring under the MRA+10 provision. No one who retires under that provision is eligible to receive the SRS.
Q. I’m 53 with 27 years and 10 months. I could get six months of military service for Army Reserve full-time training credit. I’m in a term position. If I’m given a reduction in force, what are my options? Can I defer my retirement until my minimum retirement age of 56? If so, would I lose my health and insurance benefits? If I’m RIF’ed and do not defer, does that means I lost health benefits? A. If you receive a RIF notice, you have two choices. You can either sit tight and see if you are going to be separated,…
Q. I am a civilian federal firefighter. I bought back 12 years of active-duty military time into FERS. I will have 25 years total (12 military and 13 civilian) when I am 43 years old. Can I retire at that time since firefighters can retire at 25 years of service at any age, even though only 13 of those years are as a civilian? A. No, you can’t. You would have to have 25 years of actual firefighter covered service to retire under the special provision.