Reply to “Lifer” feds, did you/are you planning to retire on schedule?

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Reply to "“Lifer” feds, did you/are you planning to retire on schedule?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]For 1% versus 1.1% difference, see:

https://plan-your-federal-retirement.com/fers-retirement-62-and-20-bonus/[/quote]

Thank you. I think they selected a bad example to show the benefits. If you are 61 (as in the example), you better stay one more year to get 1.1%. You'd be a fool not too. If someone is 56 and qualify to retire, would you wait 6 more years? or would you go? This is more interesting example than comparing 61 vs 62+[/quote]

There's a 5% per year penalty for those retiring before a certain age.  This seems to apply even for those who meet the minimum age, I can't be certain.  https://www.fedweek.com/reg-jones-experts-view/avoiding-the-fers-age-reduction-penalty/

The retirement rules are very complicated.  And when you are talking surviving spouse benefits, that adds to the mix of confusion.

Be on the look out for retirement seminars from your fed spouse's agency.  These seminars generally allow spouses to attend.  [/quote]

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