Retirement before 60


Q. I would like to retire at between 56 and 58 with deferment until I reach age 60 and can draw my reserve retirement.

I am a gray area reservist with 20 creditable years of total service. This includes four years and two months of active duty that I bought back after I accepted a FERS position. I have been with FERS for 20 years, including buyback. Will I still be able to draw both retirements since my military retirement is a reserve retirement? In 2017, I will have 25 years, and I would like to retire no later than 2018 at 58.

How will my annuity be calculated? Do I have to retire at 60 to receive both retirements?

A. You will be able to receive both retirements. Just remember that if you retire after reaching your minimum retirement age (but before age 60) and have fewer than 30 years of service, you’ll be retiring under the MRA+10 provision. As a result, your annuity will be reduced by 5 percent for every year you are under age 62. That’s 5/12 percent per month. If you wait until you reach age 60, there won’t be any reduction.

Unless you retire at age 62, your annuity will be calculated using the standard formula: .01 x your high-3 x your years and full months of service.


About Author

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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