Q. I will be 53 years old have 20 years of FERS federal service next year. I have always worked full time and have been at the top of my paygrade and step for a number of years. I would like to retire early at 56. We have a growing family business that I would then transition to for income replacement and attempt to hold off taking my annuity until age 62. If I could find a half-time federal position at age 53, what would be the impact on my benefits if I went half time between age 53 and 56?
A. If you go part-time, it would have a negative impact on the amount of your annuity. To find out what that would be under different scenarios, go to http://www.opm.gov/retirement-services/publications-forms/csrsfers-handbook/c055.pdf and scroll to Part 55B2.