Q. I retired at almost age 58 with 20½ years’ creditable service in the National Park Service under FERS. I took the 20 percent-plus hit for going before age 62. I am considering a term position with the NPS with retirement benefits.
Can I stop my FERS annuity, take the term job, and then retire after I reach 62 so my retirement will be refigured at an older age with more time in service? Do I have to stop the annuity so many days before I take the job? Any other warnings on this situation?
A. No, you can’t stop your annuity. If you returned to work for the government, the salary of your new position would be offset by the amount of your annuity. If you worked for one year full-time, you’d be entitled to a supplemental annuity. If you worked for five years full-time, you’d be entitled to a redetermined annuity.