SRS and pension


Q. I am a FERS employee with 27 years of civilian service and six years of military service, for which I made a deposit to get credit for retirement purposes. My MRA is 56. Am I eligible to retire on the first day of the calendar year in which I turn 56, or is it the day I turn 56? At that time, I will have 36 years of service. Will I get 36 percent of my high-3? When am I eligible to get 1.1 percent per year versus 1 percent? If I were offered a voluntary early retirement or separation incentive before my retirement date, would I be able to draw an immediate annuity and draw the special retirement supplement without penalty?

A. You would be eligible to retire on the day before your 56th birthday. At that time, your annuity would be computed using this formula: 0.01 x your high-3 x all years and full months of service. To have the multiplier increased to 0.011, you’d have to be at least 62 and have 20 or more years of service.

If you retired under the Voluntary Early Retirement Authority or with a Voluntary Separation Incentive Payment, you’d be able to receive an immediate annuity and, if you had reached you minimum retirement age, you’d be entitled to the special retirement supplement. If you hadn’t, you wouldn’t receive the SRS until you reached your MRA.


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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

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