Browsing: MRA+10

FERS retirement

0

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.

Pre-MRA retirement annuity, and where sick leave goes

0

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?

Service computation date and FERS retirement

1

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…

FERS retirement options

0

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…

FERS, military service and civilian status

0

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…

Retirement and rehiring under FERS

0

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…

Military buyback and retirement effect

1

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?

MRA and special retirement supplement

1

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.

Military buyback

0

Q. I am a retired soldier with 21 years of service being paid my retirement. I am also a GS FERS employee with 13 years of service. I am 56 and would like to retire in about two years. I have asked for my calculation to see if I should buy back my service time. I assume that if I buy back my time, my military retirement stops immediately. I used your calculator to check my FERS retirement and believe I got the right number for just the 13 years. If I retire under the MRA+10 provision, will I basically…

1 2 3 15