Early retirement and penalties


Q. Can I retire with 26 years of service if I’m 56 years old?  I am under FERS.  If so, is there any penalty?

A. Yes, you can retire under the MRA+10 provision, minimum retirement age with at least 10 but fewer than 30 years of service. However, your annuity would be reduced by 5 percent for every year (5/12 percent per month) that you were under age 62. You could reduce or eliminate that penalty by postponing the receipt of your annuity to a later date.


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  1. If there is a COLA penalty if I retire before 62 or do we get the full COLA as everyone else? Hearing rumors that if you retire before 62 your COLA is reduce by 1% ?

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