Ask The Experts: Retirement

By Reg Jones

Retirement date and special retirement supplement

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Q. I am in FERS, and my service computation date is June 2, 1982. I will be 56 in April 2014. I have three dates for planned retirement: May 31, 2014; June 2, 2014; or June 28, 2014. I hear the special retirement supplement is based upon a full year of service. It appears 31 May 2014 is a good date to retire, but I will miss a full service year by three days if I select this date. I earn $100,000 per year. Which of the three dates would be best?

A. The special retirement supplement is based on the following formula: Your Social Security estimate at age 62 x your total years of FERS service rounded up to the nearest whole year divided by 40.

Therefore, any of those dates you picked would produce the same result.

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