Early retirement


Q. I am a 6c federal employee with a retirement 6c date of Sept. 28, 1996, and because of my 11 years of military service and buyback, I have a retirement service computation date of Aug. 26, 1985. I am four years away from 20 years of 6c time. However, I might have an opportunity to pursue a career in which I could make substantially more with the ability of working until age 65 if I desire.

I should also point out that after my 11 years of military service, I continued with the reserves and will obtain a military pension at age 60, as well as Tricare benefits.

What would I lose by leaving early? I know the Social Security supplement will not be available, but I would be working longer anyway because I have a young child. Would it be considered just a normal federal retirement (FERS)? I am not worried about medical due to my military service?

A. If you left before completing 20 years of covered service, your deferred annuity at age 60 would be calculated using the standard formula, not the more generous one for law enforcement officers.


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.

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