Early retirement and MRA

1

Q. I am 46 and have 25½ years of service. If I accept an offer of an early retirement, do I have to wait until I reach my minimum retirement age to start receiving my annuity? Also, will my payment for unused annual leave hours be included in my last paycheck?

A. Anyone who has at least 25 years of service can retire at any age if offered an early retirement opportunity. However, you wouldn’t receive the special retirement supplement until you reach your minimum retirement age. (MRAs range between 55 and 57, depending on your year of birth.) You’ll have to check with your payroll office to find out if your lump-sum payment for unused annual leave will be included in your final paycheck or will be sent to you after you leave the service.

Share.

About Author

Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

1 Comment

  1. Also, with early retirements or those who retire regularly between their MRA and age 62 under FERS, there is NO annual Cost of Living increase on your FERS Annuity until age 62. The gross amount of your FERS Retirement Annuity will remain unchanged until age 62. After age 62, you will then receive annual cost of living increases.

Reply To David Cancel Reply