FERS Retirement age
Moderator: Aitrus
FERS Retirement age
If somebody under FERS had 20 years at age 59 1/2, how would you calculate the difference, if any, by waiting until age 60? Does that six months to reach 60 buy the person retiring under FERS anything?
Thanks!
Thanks!
Re: FERS Retirement age
I believe you end up with a deferred retirement that starts at age 60. For six moths you collect no salary or annuity.
Re: FERS Retirement age
To clarify....that is if you left at 59 1/2. Under FERS you would pick up 1/2 of 1% annuity for six months service.
Re: FERS Retirement age
i think the biggest issue is that if you retire at 60 you qualify for the social security supplement for 2 years, plus obviously your .5 years towards your annuity.
Re: FERS Retirement age
You can calculate your projected annuity and TSP benefits by using the Ballpark estimator:
https://www.opm.gov/retirement-services ... estimator/
You can change your retirement date and see how your income would change. This is only an estimate but is surprisingly accurate.
https://www.opm.gov/retirement-services ... estimator/
You can change your retirement date and see how your income would change. This is only an estimate but is surprisingly accurate.
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