Browsing: Early retirement

Q. I am a 62-year-old FERS employee. Can I retire with my FERS annuity and TSP and wait until my full retirement age of 66. I do not plan to work  after I leave. A. Yes, you can wait until your full retirement age, however, your Social Security benefit will be based on the amount you were entitled to when you retired.

Q. In an article entitled “Calculating CSRS, FERS annuities,” you indicated “that you could also retire early at age 50 with 20 years of service, or, if you have 25 years of service, at any age. I have 27 years and four months of service and I am 50 years old. Am I correct to understand that if I retire now, there would be no age penalty?

Q. Will a VERA/VSIP be offered in 2014? A. If you are asking if they would be offered somewhere in the U.S. and its territories, the answer is yes. If you are asking if they will be offered where you work – and to you – I have no idea.

Q. 1. I left the Fed in November 2011 with 22 years of creditable service (military time buyback included) and, as I am under my MRA of 56, would not be eligible for my retirement benefits without penalty until age 62, correct? 2. Can I work part time (consultant) on an agency’s payroll without affecting my current status, or would that part time add to my benefit? 3. Also, if I came back to the Fed and did three more years of full-time work before age 62, would that reinstate my health benefits?

Q. I’m a rural mail carrier and am wondering if I would qualify for an early out when/if offered. My duty date is April 1984 (29 years), but I was hired as a sub (rural carrier associate) and didn’t become regular until 1990, so my retirement computation date is January 1990 (23 years). But I recently turned 49, so I would need 25 years of service to retire under an early out because I am under age 50. I would have 25 years in if the counting period included my sub years. Are my years of service calculated from when…

Q. I work for the Defense Department, where there is talk about another set of early-out offers due to budget/sequestration cuts.  They say the problem is funding these buyouts.  I remember back in the late 1980s they offered “years” instead of money. Is there any chance they might offer three years to either your age or length of service to encourage people hanging in there trying to max out their retirement benefit to leave early even without the $25,000 buyout.

Q. I am 55 years old and took an early retirement offer with an incentive from the Postal Service in August of last year. I had 26 years of full service. I am considering an opportunity to become re-employed part time with the U.S. Forest Service as a GS4 information receptionist at the local visitor center. This is a seasonal position lasting six months a year. How will this affect my Thrift Savings Plan withdrawals and my special retirement supplement when I turn 56? I retired as an EAS-18 postmaster.

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