Preparing for a VERA


Q. In 2015, I will reach my minimum retirement age (56) with 26+ years of creditable FERS service.

If a VERA is offered any time that I’m 56 to 60 (when I will have reached full age and time requirements) would I get the special retirement supplement until age 62?

If yes, then from 56-62, I would get: FERS immediate annuity (no penalty under a VERA) Thrift Savings Plan annuity (no penalty under a VERA) special retirement supplement (under a VERA). Also during these years there is really no cost-of-living adjustment for any of the above, correct?

Also, under a VERA at age 55, for example, I could get my two immediate annuities, but the special retirement supplement would not start until age 56, correct?

A. If you accepted an offer of early retirement, you would receive your FERS annuity and not be subject to the age reduction penalty. You would also begin receiving the special retirement supplement when you reached your minimum retirement age. In neither case would those benefits be increased by cost-of-living adjustments between the time you retired and age 62. While the SRS would end when you reached age 62, you would be entitled to a regular Social Security benefit at that time. The Social Security benefit and your FERS annuity would be increased by any COLAs beginning at age 62.


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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