Browsing: Postponed retirement

Q. I may separate from federal service (Veterans Affairs Department) at age 62 with approximately 16 years of total service. I am CSRS offset. Am I able to postpone taking the annuity until I retire at age 65 or 66? Is there any advantage to postponing taking the annuity? I have been continuously covered by Federal Employees Health Benefits for six years or so. From what I read, if I am employed outside of the federal system, I can discontinue FEHB coverage until I fully retire, then “rejoin” FEHB at the time I retire. Is this correct?

Q. I am a FERS employee. I am planning to do an immediate retirement (MRA +10). Date of birth: March 1952. Service computation date: February 1996. This gives me 17 years in FERS and well within the minimum retirement age. I would like to postpone the receipt of my annuity until my next birthday (62), eliminating the penalty. This should allow me to use all my sick leave for annuity computation. Is this possible?

Q. I retired from the Air National Guard with 20 years (16 FERS and four active-duty buyback). Under MRA+10, can I apply for my annuity at my minimum retirement age (56 years, four months)? I read that I will be penalized 5 percent for every year I am under 62. Doing the math, it appears that it would take roughly 18 years to make up the difference in retirement pay if I waited until age 62. In other words, am I better off taking a 25 percent penalty at 57 rather than drawing at 60 or 62?

Q. I retired from the military with full retirement in 1995. I think I understand that I cannot buy back any military time without forfeiting retirement pay when I retire from my federal job with the post office. Since the money comes out of my pocket, I have a hard time understanding this. However, I will have 20 years of service with the post office in 2017, when I am 56. If I take retirement, then why will I have a MRA+10 reduction till age 62 if I can retire fully at 60 with 20? Why would it be 30…