Ask The Experts: Retirement

By Reg Jones

Retirement penalty?

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Q. I am FERS employee. I am 60 and this September I will have 29 years of service. Will I be penalized if I retire before I turn 62 and with only 29 years?

A. No, you won’t. You can receive an immediate, unreduced annuity at age 60 with as few as 20 years of service.

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