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!
FERS Retirement age
Moderator: Aitrus
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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