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Eligibility for Your Retirement

To be eligible to retire you need to have the required years of creditable service and the age.

Yes, it seems like it takes forever to get there. You are wondering how long you can continue to work with that colleague, supervisor, rules, SOPs, work schedule, travel, etc…..Here is where you want to keep your long range goals in mind i.e., a guaranteed income the rest of your life, survivor benefits, and the ability to continue coverage of health benefits with the government continuing to pay a large portion of the premiums.

You need to have both the age and years of creditable service to be eligible to retire under the Basic Benefit portion of FERS. This provides you a monthly income for the rest of your life. You will also have the opportunity to elect a surivov benefit which provides a monthly income for your survivor for the rest of their life after you pass away.

Immediate Retirement What does this mean?

Deferred Retirement How is this different from Immediate?

You may also be able to continue your insurance in an immediate retirement. You will also be eligible for the full Cost-of-Living-Adjustment (COLA) usually paid annually. Your first COLA will be prorated. COLAs are effective December 1 and reflected in the January annuity payment.

What else do I need to know to determine if I am ready to retire?

  • 5-year test for FEHB and FEGLI

  • Service credit updated and deposits understood

  • Military deposits paid

  • Can I afford to retire?

  • Have I discussed this plan with those who will be impacted by my decision to retire?

    • Spouse

    • Boss

    • Coworkers

    • HR Specialist

ON the charge below, you can learn more about Voluntary, Early (voluntary and involuntary), Disability, Special Provisions, Deferred. Each one of these options has its own specific rules

When will I be eligible for an immediate FERS retirement benefit?

What is early retirement?

What if I resign before I’m eligible?

I’m a federal law enforcement officer, firefighter (etc), how are the rules different for me?

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