FERS annuity at age 62


Q.  I will be 62  next June 20 and am planning for my FERS retirement.  I thought I read somewhere that for retirement purposes, you can retire anytime in the month you turn 62 (anytime in June, in my case), and still receive the 10 percent extra credit for time worked (to receive 1.1 percent of your high-3 for each year worked if you wait until you are 62, instead of the 1 percent for each year if under 62).  Or do I have to actually wait until my birthday (or more likely the end of the month to get a full pay period) to get the 10 percent credit?

A.  You’ll be age 62 on the day before your official birthday. Therefore, you can retire on that day or any following day and have your annuity computed using the higher 0.011 multiplier instead of the 0.01. Just remember that it’s better to retire at the end of a pay period, so you can get credit for any annual or sick leave you earned during that pay period.



About Author

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


  1. Michael Bender on

    I have a question in relation to the 1.1% kicker as a FER. I have military service, 3 yrs Army 79-82 which I have not paid in to get the 3 yrs credited to my total years. I am now 57, plans on retiring when I reach 62. My question is , if I get those 3 yrs credited to my retirement, I can retire at 59 and not 62, but there fore I will not get the 1.1% kicker with the high 3 calculation?

Leave A Reply