FERS MRA+10 Age Reduction

[dtech77]

I would like to retire before 60 under the FERS MRA+10 option. However, I will be hit with the 5% per year under age 62 annuity reduction. I seem to recall having read some literature that if I have more than 20 years of service(which I have), then the age reduction would be 5% per year under age 60. Is this still true?

Thank you.

Apologize if this is a repeated post. For some reason, my previous post did not appear on the forum.

 

[exnavyew]

I would like to retire before 60 under the FERS MRA+10 option. However, I will be hit with the 5% per year under age 62 annuity reduction. I seem to recall having read some literature that if I have more than 20 years of service(which I have), then the age reduction would be 5% per year under age 60. Is this still true?

Thank you.

Apologize if this is a repeated post. For some reason, my previous post did not appear on the forum.

FWIW: :smile:

https://www.fedweek.com/retirement-financial-planning/the-flexible-mra10-retirement-option/

 

[dtech77]

Thanks for the link. I was hoping to find some confirmation on whether the reduced annuity will be the number of years under age 60. Maybe the rule has change.

 

[exnavyew]

Thanks for the link. I was hoping to find some confirmation on whether the reduced annuity will be the number of years under age 60. Maybe the rule has change.

I would suggest contacting your payroll and/or HR dept. for your specific numbers. Good luck!