Ask The Experts: Retirement

By Reg Jones

Retirement date and special retirement supplement

Bookmark and Share

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.

Comments are closed.