Q: I’m a FERS employee. If I retire at my minimum retirement age of 56, with 20 years in, will the retirement supplement begin four years later when I turn 60? Or does it begin at my minimum retirement age of 56? Or am I ineligible to receive it if I don’t take it immediately on retirement?
A: You would be retiring under the MRA+10 provision. First, no one retiring under that provision is eligible for the special retirement supplement. Second, your annuity would be reduced by 5 percent for every year (5/12 percent per month) that you were under age 62, unless you deferred the receipt of your annuity to a later date to reduce or eliminate the age penalty.