Immediate Reduced Retirement vs Postponed MRA + 10 Retirement

Kahlid wants to know if there's any benefits to delaying retirement past age 62 given that he was 56 at the time of his separation from the federal government. Tammy takes the time to explain MRA + 10 Retirement and whether it would be beneficial for him.

If you have more questions about planning your federal retirement, leave us a comment below and we'll try to answer it in a future episode.

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Micah Shilanski, CFP®
#PlanYourFederalRetirement #FERS

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[lostcausel]

If I postpone my retirement after my MRA and collect it at 60 yrs old with 20 years do I get the supplement?

[joec]

Does salary include overtime? Is it total gross annual pay or annual base pay?

[korswe]

Question 1: If you retire at MRA age of 57 with 20 years of federal service and elect to receive ERS benefit right away, do you get hit with a 5% reduction penalty for 3 years of receiving FERs earlier than 60 (as MRA+20 years has been met) or a 5% reduction penalty for 5 years for receiving FERS earlier than 62?

Question 2: Same retirement at MRA+20 years of fed service as above, but you elect to postpone receiving FERs until 60. Do you get FEHB when you retire at MRA or when you start receiving FERS at 60?

[overdotyonder]

So regarding the submission of the RI 92-19, you are saying that the RI 92-19 is submitted about 2 months before you wish to receive your annuity; which at 62 years of age may be several years after you have "retired". So what is submitted prior to a persons retirement who desires to select a Postponed or Deferred retirement? I get the impression that the employee would just submit two weeks notice and quit. Then after that period of time simply submit the RI 92-19 to start the annuity payments. Am I off base? Thank you.

[Baseball]

The bottom line in either case, FERS sucks. I'm amazed how much YouTube videos and talk there is in relation to FERS. Yes, it's a retirement and people need to know, but it's peanuts. Just imagine, you would have to serve 50 years to get 50%! It's all sold by 3 legs of a ladder, FERS, TSP and Social Security.

[ritagamron]

Hello My name is Brian and I worked at the VA Hospital and I HAD to retire for medical reasons and I worked there from Nov 1992 and had to retire in September of 2003 I was Born with Cerebral palsy and that played in to that fact. What I would like to know is what is the best way to go about receiving my Pension. I am receiving my Social Security ( *Social Security Disability.* ) I do not currently receive my Pension I am ONLY 50 years young and I visited the VA Hospital on March the 14 to visit the Human Resources and while I was there they informed me that they Human Resources part of that hospital was relocated to a different physical building and address then I visited the kitchen and told them about my Thrift Savings Plan