Need Advice: Fed w/ 24+ years and just reached MRA. Don't know what I should do

[Anonymous]

I reached my minimum retirement age today (not even sure what this really means). I'll be 57 in October. My agency is about to begin a RIF.

What should I do? Be looking out for? Or, should I just sit still?

Thanks in advance.

[Anonymous]

Retire.

[Anonymous]

Anonymous wrote:Retire.

OP is not eligible to retire immediately without a reduction in benefits. MRA + 30 years or 60 + 20 are the next goal posts. https://www.opm.gov/retirement-center/fers-information/eligibility/

Or defer retirement and self fund health insurance for a few years.

[Anonymous]

Work until you are 70.

[Anonymous]

You need to attend retirement training, you can’t retire at 57 with only 24 years and retain your health insurance.

[Anonymous]

there is supposedly a VERA offer coming soon that will add two years to people close to retirement. Wait for that and then get out

[Anonymous]

Anonymous wrote:You need to attend retirement training, you can’t retire at 57 with only 24 years and retain your health insurance.

What? Yes, you can if MRA is 57.

[Anonymous]

Anonymous wrote:there is supposedly a VERA offer coming soon that will add two years to people close to retirement. Wait for that and then get out

Really? Has this been reported somewhere or just rumor at your agency?

[Anonymous]

Anonymous wrote:there is supposedly a VERA offer coming soon that will add two years to people close to retirement. Wait for that and then get out

I wouldn’t count on that.

Op MRA +27 is not enough. You need at least 30 years for immediate retirement. In 3 years you will be 60/30 with 2 years away from 10% bump. My guess is that you will be there at least until 62. I’d hang on.

[Anonymous]

Thanks, everyone. Very helpful.

[Anonymous]

I'd stay. There is a discontinued service option if youre RIFed (similar to VERA), so you'd still get retirement.

[Anonymous]

If RIF happens and you are RIF’d, you would qualify for Discontinued Service Retirement (DSR).

Read here, https://www.opm.gov/retirement-center/publications-forms/csrsfers-handbook/c044.pdf.

For most people at MRA and less than 30 years, DSR during RIF is best option unless VERA is offered. If a VERA is offered there will be info sessions. But if you can stand it, wait for VERA or the actual RIF.

[Anonymous]

I’m in a similar spot. I’m better off with RIF>DSR than MRA retirement because it will not have the penalty. Health ins available either way. VERA may be an option, depending on what is offered. At least that’s what a think after talking with HR

[Anonymous]

If you get RIF’d, your severance will buy you another year.

I’ll wait until I have 30.

Update your résumé in your LinkedIn just in case.

[Anonymous]

Anonymous wrote:

Anonymous wrote:there is supposedly a VERA offer coming soon that will add two years to people close to retirement. Wait for that and then get out

I wouldn’t count on that.

Op MRA +27 is not enough. You need at least 30 years for immediate retirement. In 3 years you will be 60/30 with 2 years away from 10% bump. My guess is that you will be there at least until 62. I’d hang on.

Id calculate this 10% bump for me. It really wasn’t that much money.

If you’re a GS 1510, ends up being less than $400 a month. That’s if you’re the highest paid person in the government for most it’s gonna be around $200.

Two years of your life, you don’t want $200 a month.