Q. I am 56 1/2 years old with 27 years of federal service. How does this Voluntary Early Retirement Authority (VERA) actually work? I will not have 30 years of service until November 2018. If I were offered a VERA, does this mean that they will give me the additional three years and that would be how they would calculate my retirement amount? A. No, it doesn’t. If you are eligible for a VERA, your annuity would be based on your actual length of creditable service when you retire. Because you are a FERS employee, the following formula would be…
Browsing: Retirement date
Q. I will have 30 years with the United States Postal Service next year and plan on retiring September 30, 2016. I had to take leave without pay this year because my daughter was injured. How does LWOP affect my retirement next year?
Q. I will be turning 57 next year with 26 years of service, and I believe my organization will be offering Voluntary Early Retirement Authority (VERA)/ Voluntary Separation Incentive Payment (VSIP). Would it be worth it for me to retire? Will early retirement count against me?
Q. I am currently 60 years old. I want to start drawing my federal retirement at age 62. If I leave federal service before age 62 — because I am offered a job in the private sector or as a contractor with the federal government — what is the proper federal retirement paperwork to file to ensure I start getting my FERS retirement annuity at age 62?
Q. I am 57 with 35 years in CSRS and planning to retire at the end of the year. Can I retire on a holiday, Friday Jan. 1, 2016, or on Saturday, Jan. 2, 2016? If so, then would I get paid for the holiday and still get my annuity payment on Feb. 1, 2016?
Q. I am under FERS with 28 years of service, more than 65-years-old and want to retire at the end of this year (Dec. 31, 2015). However, I am unsure if it would be a good financial decision for me to wait until Jan. 9, 2016, which is the end of leave for the year. What is the best day to retire?
Q. You show the best date in June 2015 to retire (FERS) as June 27. If I want my first annuity check to be paid in August, wouldn’t I have to retire June 30? I’m afraid if I retire on June 27, even though that would gain me the leave accrual for that pay period, I’d be postponing my first annuity check by another month.
Q. I was born in 1959, so my MRA age is 56 with 30+ years of service. I turn 56 on Oct. 10, 2015 (which is a Saturday) and I will have 31 years with the USPS (FERS). My master file says I’m eligible to retire on Oct. 9. What is the correct date of retirement? I don’t want to retire on that Friday, Oct. 9, only to find out I retired one day too early.