Benefits for retiring at 65 with 29 years


Q. I’m a FERS employee thinking of retiring at the end of 2014.

I’ll be 65, and with time served, military and sick leave (barring any lengthy illness between now and then), I’ll have 29 years, plus a couple of months. I know I’ll be losing some benefits from Social Security, leaving a year early, but what would the loss be from leaving before the 30-year mark?

A. Because you are at least age 60 and have at least 20 years of service, your annuity will be computed using the enhanced benefit formula: .011 x your high-3 x your years and full months of service. As a result, each additional month you work is worth approximately .009 percent of you high-3.


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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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