Q. I’m a FERS employee planning to retire under the MRA+10 provision with postponed benefits. I am over my mandatory retirement age with more than 15 years of creditable service. Earlier posts on the same subject state you would have to resign in order to postpone and lose all sick leave credits. However, I also read that you should retire under immediate retirement, postpone receiving the benefits so that sick leave will be counted toward your service computation, and never resign. Can I retire under the MRA+10 provision and then postpone receiving the benefits? What paperwork needs to completed?
Browsing: MRA+10
Q. I made a deposit on temporary civil service time performed in 1983. Will that time count toward the 10 years needed for the FERS MRA+10? I read military buyback doesn’t count toward the minimum 10 years, but I’m not seeing an article that mentions the buyback of federal temporary time.
Q. My USPS retirement eligibility date is Dec. 30 (56th birthday). My annuity projection shows about a $10,000 difference if retiring Dec. 30 vs. April 15 next year, which would be exactly 30 years. Is this correct? A. If you retired at your MRA but with fewer than 30 years of service, you’d be retiring under the MRA+10 provision, which would reduce your annuity by 5 percent for every year you were under age 62. To avoid that hit, you’ll need to wait until you have 30 years of service to retire.
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?
Q. I am contemplating retirement with a separation date of Jan. 6, 2014. Under FERS, my creditable service for retirement (on Jan. 6, 2014) will be 29 years and two months (service computation date of Oct. 24 1984). My creditable service for RIF and leave (on Jan. 6, 2014) will be 31 years and seven months (service computation date of June 20, 1982). The estimate I have indicates the MRA+10 provision, reducing my annuity by approximately 35 percent (5 percent each year under 62; I will be 57 in January). From an eligibility standpoint, which would be the correct creditable…
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…
Q. 1. I am a FERS employee with seven years service with the VA (and three years bought back from active duty 1973-1976) totaling 10 years of federal government time. I started at the VA in Tampa on Feb. 21, 2006, at age 54. I was born on Feb. 6, 1952. Is my calculated retirement date Feb. 21, 2003? I had worked six months with the VA until the Army activated me from Aug. 29, 2006, to Aug. 28, 2007. I returned to the VA for six to seven months until March 30, 2008, when I was activated again with…
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…
Q. I’ve been working for the Department of Veterans Affairs since February 1991 at GS 11. Before that, I was in the military from October 1981 to February 1988. I haven’t bought back my military time yet, but I am considering it. At what age would I be eligible for retirement with military time included versus without, and what would be the difference in earnings and benefits?
Q. I have a question about MRA+10 retirement. I am a FERS employee, age 58 with 26 years of service. Can I retire now on an unreduced annuity and also collect the special retirement supplement until I reach age 62? Or do I have to deduct 5 percent for each year I am under the age of 62? Or is the 5 percent deducted from age 60 because I have at least 25 years in? In any case, the ability to collect the supplement would be key for me.