Ask The Experts: Retirement

By Reg Jones

Severance pay and deferred annuity

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Q. If a FERS employee is eligible for a deferred retirement (30 years qualifying service but not yet at minimum retirement age) but is involuntarily separated (instead of resigning) and receives severance pay upon separation, can he still file for and receive a deferred retirement later upon attaining his MRA?

Also, is it true that a deferred annuity is not subject to reduction if applied for at MRA when the employee had at least 30 years of service?

A. Yes and yes.

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