Ask The Experts: Retirement

By Reg Jones

Annuity computation

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Q. I worked for the House of Representatives for 17 years under FERS) and have worked for the Department of Labor for five years. I plan on retiring in April, when I will be 60. In calculating my retirement, will my 17 congressional years be calculated at the higher rate (1.7 percent), and my DOL service at the 1 percent rate, even if I don’t retire directly from the House?

A. Yes. Your years of congressional service will be computed using the higher multiplier, and the rest using the standard one.

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