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.
Fund Prices2024-04-16
Fund | Price | Day | YTD |
G | $18.19 | 0.01% | 1.24% |
F | $18.58 | -0.32% | -3.33% |
C | $79.08 | -0.21% | 6.34% |
S | $76.95 | -0.41% | -0.18% |
I | $40.73 | -0.98% | 1.37% |
L2065 | $15.67 | -0.50% | 3.66% |
L2060 | $15.67 | -0.50% | 3.67% |
L2055 | $15.68 | -0.50% | 3.67% |
L2050 | $31.50 | -0.44% | 2.93% |
L2045 | $14.38 | -0.41% | 2.81% |
L2040 | $52.59 | -0.38% | 2.72% |
L2035 | $13.91 | -0.35% | 2.60% |
L2030 | $46.37 | -0.32% | 2.50% |
L2025 | $12.95 | -0.18% | 1.90% |
Linc | $25.31 | -0.14% | 1.64% |