FERS retirement multiplier


Q. A recent post stated you can receive your FERS retirement benefits calculated at the rate of .011 with 20 years of service at age 62. Does this benefit rate of 1.1, apply if you resigned your employment before the minimum retirement age, have more than 20 years of service and elect to receive a deferred retirement at age 62? At age 60, benefits are calculated at .01. Is there a choice?

A. As a former employee with at least 20 years of service, you can apply for a deferred annuity at age 60. That annuity would be computed using the .01 multiplier. If you didn’t apply until age 62, it would be computed using the .011 multiplier. The decision is yours to make.


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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 fedexperts@federaltimes.com.

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