FERS annuity after age 62


Q: I started work in civil service late in life after a military career for which I draw a separate pension. My service computation date is May 24, 1994, and my birthdate is Feb 9, 1947. At what point will I be able to retire with a FERS annuity multiplier of 1.1 percent? Since I just had a permanent change of station due to an agency reorganization, I have to stay on duty until at least January of next year. I would have to stay until January 2014 for the sick leave (full 1 percent) to take effect, but I don’t know if I can make it that long. What do you suggest?

A: There’s only one answer. To have your annuity calculated using the 1.1 percent multiplier, you’d have to be at least 62, which you are, and have 20 years of service, which you don’t. Since you are already eligible to retire, you have two choices; retire before you have 20 years of service and have your annuity calculated using the standard 1 percent multiplier or hang in there until you have 20 years of service.


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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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