Q. I am 59 with 23 years’ service under FERS. If I retire now, will I receive the special retirement supplement of 50 percent of expected SSI until 62?
A. If you retire now, you won’t be eligible for the special retirement supplement and you’ll be subject to the 5 percent per year penalty for being younger than 62 because you’d be retiring under the MRA+10 provision (minimum retirement age with between 10 and 29 years of service). If you want to avoid the age penalty and receive the SRS, wait until you reach age 60 to retire.