FERS Retirement Options | Immediate vs. Deferred Retirement

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The Federal Employees Retirement System (FERS) has two major ways a federal civilian can retire: Immediate and Deferred. Each of these options has different pension sizes depending on the number of years of service and the age at which the pension is claimed.

#federaljobs #retirementplanning #governmentwork

0:00 - Federal Pension Options For Veterans
0:36 - How to Buy Back Military Service
1:37 - Federal Employees Retirement System
2:28 - How is a Federal Pension Calculated?
3:33 - Does a Federal Pension Include Locality Pay?
4:40 - Can A Federal Employee Retire Early?
6:28 - How Many Years Do You Have To Work For a Federal Government Pension?
7:19 - When Can A Federal Employee Retire?
10:23 - How Much Do Federal Employees Get For Retirement?
14:40 - When Should A Federal Employee Retire?

Note: The views expressed in this video are the presenter's and do not represent the policy or guidance of the Department of Defense or its subordinate elements.
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Thank you for reeling me in immediately when flashing the MRA chart...I was picturing the beach and hearing seagulls! This was a really good video! It is depressing in a way...who can afford to retire?...Thanks!

en.copedawg
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Dept of State and Defense Civilian Intel Personnel System (DCIPS) set overseas locality pay to D.C. rate to protect overseas employees from losing money at retirement.

anthonykaiser
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Ok, so if i decide at age 50 to defer my pension to age 62, ack thr 1.0 multiplier but i also pay a penalty? The other thing idk if u planned to discuss is that one foregoes civilian medical and life insurance with a deferred pension

DruKisimmee
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Also, how does purchasing military time equate to years served under FERs? Is it one for one or some other calculation that feeds pension size versus time accumulated. For example, i have worked an actual 20yrs in civilian job but purchased 11yrs of military service, does that mean i have 31yrs of service? This part is always vague when i inquire.

DruKisimmee
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Grind it out until 62! That’s a big increase.

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