Q. I was considering an early-out, but I’m really close to my minimum retirement age, and full retirement for me will be in 2016. Of course, there would be a reduction/penalties if I retire before 2016, but would it be possible for a person to pay the penalties upfront? I assume if I paid this penalty I would get the amount I would receive as if I had worked until 2016.
A. No one can pay the penalty upfront.