FERS Retirement age

Civil Service Discussion.

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tacatlin
Posts: 9
Joined: Mon Mar 09, 2020 11:40 am

FERS Retirement age

Post by tacatlin »

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!

tunahound
Posts: 17
Joined: Mon Aug 15, 2011 9:00 pm

Re: FERS Retirement age

Post by tunahound »

I believe you end up with a deferred retirement that starts at age 60. For six moths you collect no salary or annuity.

tunahound
Posts: 17
Joined: Mon Aug 15, 2011 9:00 pm

Re: FERS Retirement age

Post by tunahound »

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.

edguev66
Posts: 10
Joined: Mon Oct 02, 2017 5:40 am

Re: FERS Retirement age

Post by edguev66 »

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.

haywoodkb
Posts: 73
Joined: Mon Aug 18, 2014 9:53 am

Re: FERS Retirement age

Post by haywoodkb »

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.

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