Browsing: Special retirement supplement

Q. I would like to know if I retire under FERS on December 29, 2017, and have 30 years and 11 months service and am 56 years old, will they calculate my supplement as having 30 years or 31 years? That would make a difference from 75 percent with 30 years and 77.5 percent with 31 of my Social Security at 62. Would I need to go an extra month to get the 77.5 percent? It says to the nearest whole number.

Q. If someone resigns at their minimum retirement age of 56 with 24 years of credible Postal Service and postpones taking their annuity until right after their 60th birthday, is it true they fall under the age 60 with 20 years of service and will qualify for the FERS special retirement supplement and zero reduction of their FERS annuity? And are they entitled to reapply for Federal Employees Health Benefits?

In April, the Republican budget proposal included a provision that would eliminate the special retirement supplement. The SRS bridges the day you retire and age 62, when you’ll first be eligible for a Social Security benefit. The SRS is based on your years of actual FERS service. It doesn’t include any other Social Security-covered employment, such as work in the private sector or active duty service in the armed forces, even if you made a deposit to the retirement system to get credit for that time.

Q. I’m retiring soon at the mandatory age for firefighters at 57 years old after 30 years of service. I understand the Social Security Administration supplement will be paid out until age 62. Can the supplement continue past 62 if I choose to wait to elect collecting Social Security until age 67, the full-retirement age? I’m staying at the fire department until the last possible day before the mandatory age requirement kicks in, but I’m concerned of a potential five-year gap and/or not receiving the supplement between ages 62-67. If the supplement stops entirely at 62, then I’d feel a bit…

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