Ask The Experts: Retirement

By Reg Jones

Early retirement’s effects on pension

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Q. I am a 55-year-old city mail carrier with 18-plus years of service. How much of a reduction from my full retirement funds would result if I retired at 57 with 20 years of service?

A. Since you’d be retiring under the MRA+10 provision, your annuity would be reduced by 5 percent for every year you were under age 62. In addition, you wouldn’t be entitled to the special retirement supplement.

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