Q. If I retire under MRA+10 with 15 years of service, is the 5 percent-per-year penalty calculated by months if it’s less than a full year?
A. Yes, it’s 5/12 percent per month.
5 percent-per-year penalty
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Reg Jones
Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.