By Reg Jones
November 13th, 2012 | Uncategorized
Q. With the possibility of reductions in force in the Department of Justice starting in February, what are law enforcement’s early retirement options (VERA)? I am 58 with only 15 years’ law enforcement and 19 years’ government service. Will I get any credit for law enforcement years?
A. Although you are age 58, you only have 19 years of service; therefore, you wouldn’t be eligible to retire under the Voluntary Early Retirement Authority. However, you would be able to retire under the MRA+10 provision (minimum retirement age with between 10 and 29 years of service). If you did that, your annuity would be computed using the standard formula. No extra credit would be given for your years of law enforcement service. Further, your annuity would be reduced by 5 percent for each year you were under age 62 (5/12 of 1 percent per month), unless you postponed the receipt of your annuity.