TSP Center

Do any retiree’s on here know how much Social Security will fill in when the FERS Supplement stops at 62?

It's my understanding that the FERS Supplement is roughly 75% of what you are estimated to get if you were to claim Social Security at 62. Upon reaching 62, the supplement stops entirely, regardless of whether or not you claim Social Security. The normal rules for Social Security apply when you reach 62, meaning that you can claim it at that point, or wait to your full SS retirement age, or postpone claiming it after your full retirement age to get the extra bonus amount.

Aitrus wrote:It's my understanding that the FERS Supplement is roughly 75% of what you are estimated to get if you were to claim Social Security at 62. Upon reaching 62, the supplement stops entirely, regardless of whether or not you claim Social Security. The normal rules for Social Security apply when you reach 62, meaning that you can claim it at that point, or wait to your full SS retirement age, or postpone claiming it after your full retirement age to get the extra bonus amount.

the rough formula if one is eligible is

divide the number of years of service by 40 then multiply that with what your SS payments are estimated to be. so the more years of service and the more SS payment amount the higher. technically if you put in 40 years of service you will get the same amount as your SS would be minus taxes etc.

Ah, that's what the formula means in real terms. I'd been wondering about that. Thank you, bloobs.

Aitrus wrote:Ah, that's what the formula means in real terms. I'd been wondering about that. Thank you, bloobs.

That was the missing information I needed to run my estimates and it looks like I'll get at least as much from Social Security as the FERS Supplement. I know this is the way the system was designed but it's nice to see the numbers.

Thanks Bloobs and Aitrus!

TSPBuilder,

I answered your question at http://tspcenter.com/forums/viewtopic.p ... =15#p79147