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.
Browsing: MRA+10
Q. I work for Customs and Border Protection. I am 59 years and eight months old with 20 years and three months of service. If I retire ASAP, can I receive the special retirement supplement? Any information for early buyouts for us? It would make more sense to give us early buyouts and not furlough the front-line officers. A. If you are a law enforcement officer, you can retire at any time. If you aren’t, you can only retire under the MRA+10 provision unless you are offered an early retirement opportunity by your agency. If one is offered, you’ll learn…
Q. I am 52 years old and have 22 years of federal employment. Can I retire? If so, how soon can I receive monthly payments, and how much would they be reduced by? How would this affect my Social Security benefits later? Also, how would this affect my medical insurance? A. Unless you are a special category employee, such as a law enforcement officer or a firefighter, you don’t meet the age and service requirements to retire. For FERS employees, these are: age 62 with five years of service, 60 with 20, at your minimum retirement age (MRA) with 30, and…
Q. I plan on retiring in 1½ years. I will be 56 and have 23 years federal service. I bought back my three years of military time, but I understand that I will not be able to use that unless I do 30 years. I am FERS and was born in 1958, so my minimum retirement age is 56. Will I be able to retire at 56 with 23 years of federal service? A. You could retire under the MRA+10 provision. However, your annuity would be reduced by 5 percent for every year (5/12 percent per month) that you were…
Q. I’m a 59-year-old FERS employee with 27½ years of service. If I go on optional retirement at age 60, will I suffer a penalty, and will I receive the special retirement supplement till age 62, when Social Security kicks in? A. No, you won’t suffer a penalty because you’ll be retiring at age 60 with at least 20 years of service. And, yes, you’ll receive the special retirement supplement until you reach age 62.
Q. I retired from the Air Force after 20 years in 2005 at the age of 45. I took a GS job in May 2005 and am a GS-12. I thought, based on reading about my benefits, that I am eligible for a GS retirement if I work at least 10 years and am at least 56 when I retire again. A. You would be eligible to retire under the MRA+10 provision (minimum retirement age with at least 10 but fewer than 30 years of service).
Q. I am an Air Force retiree who has 13 years as a federal employee. I am eligible for MRA+10 on March 24. If I apply to retire, how long does it take to process my application for approval or what is the earliest date I can actually resign? I am considering a private sector job and they want to start in 30-45 days. A. When you fill out the Standard Form 3107, Application for Immediate Retirement, you’ll put the date you are retiring in Section B2. It doesn’t matter how long it takes to process your application, that’s your…
Q. I will be retiring this year from FERS under MRA +10. I plan to select an immediate annuity postponed for payment to start Dec. 12, 2014, when I turn 62. I want to have my sick leave used to calculate my annuity based on full amount so I will select a date of Jan. 1, 2014, or later. To ensure I can cash out maximum annual leave, what is the last day of the 2013 leave year so that I can take a lump sum for unused annual leave of around 340 hours? A. For most agencies, the 2013…
Q. I work for the Postal Service. If I retire at 56 with 20 years of service after Jan. 1, 2014, and decide to postpone my annuity, what happens to my sick leave? Will I be credited with 100 percent, 50 percent or 0? If it does not count, is there any reimbursement? A. You’ll receive full credit for your unused sick leave in the computation of your annuity. That’s true regardless of when you begin receiving your annuity. Because you’d be retiring under the MRA+10 provision, your annuity would be reduced by 5 percent for every year (5/12 percent…
Q. I retired in 1988 after 11 years of active service in the Air Force. Am I eligible for benefits; and for some form of retirement pay when I reach 62? I was thinking of getting a federal job to complete the active service to 20 years. A. Because this is a site for federal civilian employees and retirees, I don’t know if you are entitled to any military benefits. You’ll have to take that up with your former branch of service. If you did come to work for the government, you wouldn’t get credit for your active-duty service unless…