Ask The Experts: Retirement

By Reg Jones

Retirement date

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Q. I am a FERS employee and wish to retire on my birthday, Oct. 1, when I reach 56, which is my MRA. This is, however, two months before I reach 32 years of service. Is there an advantage waiting to retire on my job anniversary when I get credit for 32 years of service instead of the 31 years and 10 months of service I would have if I retired on my birthday?

I have FERS and someone told me that I would get full annuity with more than 30 years under my belt if I retire at MRA. Is this true?

A. Because you are a FERS employee, every full month you work is worth 1/12 of 1 percent of your high-3, It’s up to you to decide if it’s worth it to work two more months rather than retiring when you reach your MRA.

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