Q. I am 58 years old with 22 years of service. If I elect to leave the service before I reach my 60th birthday, can I retire on my 60th birthday under a deferred retirement, or do I need to wait until my 62nd birthday? Will I have any penalties for leaving before my 60th birthday?
Browsing: Deferred retirement
Q. I resigned from the Postal Service in August 2005. My start date was Jan. 15, 1975. My pension was placed into a deferred annuity. I understand this annuity is maintained somewhere in Pennsylvania. Can you tell me the address of this place? Will I be able to draw my pension at the age of 60 or 62?
Q. My wife just resigned from the U.S. Forest Service. She is 44 with more than 20 years of service. Did she lose all of her retirement, or is she still eligible to receive a portion at the reduced rate of 5 percent? She was always in a position covered under firefighter retirement, eligible at 50 to retire. Also, is she still eligible for health benefits?
Q. If I have 20 years of federal service (including more than 15 in the foreign service) but I haven’t turned 50, can I retire but defer receipt of my benefits/pension until I am eligible at age 50? For example, an employee is 47 years old and has completed 20 years of federal service. Can that employee leave the service and still receive full retirement benefits beginning at age 50?
Q. I’m 46, with 12½ years in civil service. Per ABC, I can do deferred retirement; however, VERA/VSIP has been offered. Will this null and void my deferred retirement since it is a voluntary resignation?
Q. I am 55 years old and left civil service in 2001. I started civil service in 1990 and paid to add my military time (14 years) into my civil service time. When I left civil service at age 43, I had more than 25 years of creditable service. My minimum retirement age is 56 years, and I would like to start collecting my retirement annuity as soon as possible. Does it matter that I was involuntarily separated from civil service due to losing my security clearance for reasons that were not my fault? I also heard that if I…
Q. I resigned from federal service in July 2011. I have 15 years of service and am 53. I was a FERS employee. I’m trying to figure out what my retirement will be. My understanding is that I can start drawing my pension when I’m 56. I also understand there is a 5 percent penalty for each year under 62, meaning if I started taking my pension at 56, it would be reduced by 30 percent. It is also my understanding that the way to figure out what my pension would be is to use .01 x high-3 x years…
Q. I am a former federal CSRS employee who lost employment when the Philadelphia Naval Shipyard was closed in 1995. I had about 15 years of service and left my contributions in the system. I was born in July 1956 and am 56. When can I apply for a pension, and what can I expect? Would I take a deferred pension? Also, I have met my 40 quarters for Social Security and have been employed for about 17 years with the School District of Philadelphia. I am thinking about retiring when I am 62 but would like to know my…
Q. I had 16 years as a FERS employee and bought back my four years of active-duty time (20 years). When I left my federal job, I was told by human resources to apply for my deferred retirement at my minimum retirement age (56 years old) because taking the penalty (2 percent a year for every year under 60) was still better because it would take 18 years to make up the difference if I waited until age 60 to draw the annuity. Does that sound correct to you? I left federal service at age 46.