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Federal Employees Benefits Q &A

Do you have questions about your federal employee CSRS or FERS pension/annuity or federal employee retirement planning? Concerns about your Thrift Savings Plan (TSP) account or what about federal employee pay and leave issues?

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The Q&A forum is moderated by Ed Zurndorfer -- an expert on federal employee benefits -- and a Certified Financial Planner, chartered life underwriter and chartered financial consultant in Maryland.

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#1 Posted : Tuesday, April 2, 2019 9:00:30 AM(UTC)

Rank: Newbie

Groups: Registered
Joined: 8/4/2015(UTC)
Posts: 8
United States
Location: New York

I am a FERS Employee at my MRA and with 34 years. I am planning to retire in the next several years (before age 62) and was wondering about postponed retirement. It appears that postponed retirement is for those who retire under MRA+10, but is there such a thing as postponed retirement for those like me who qualify under immediate voluntary retirement? I understand that I would not draw my annuity until age 62 and that I would forgo the supplement, but the advantage of the 1.1 increase in my retirement calculation at age 62 would pay off in about 10 years and from then on I would be ahead of any losses.
Ed Zurndorfer  
#2 Posted : Wednesday, May 22, 2019 1:46:54 PM(UTC)
Ed Zurndorfer

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There is no postponed retirement for those employees who are eligible to retire immediately because they have met the minimum age and service requirement. Since you have reached your MRA and have more than 30 years of service, you can retire immediately. You cannot therefore postpone the start of your annuity until age 62 in order to be eligible for the 1.1 percent accrual factor in the calculation of your FERS annuity. The only way you will be eligible to get the 1.1 percent accrual factor in the calculation of your FERS annuity is to work until you are age 62.
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