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Reply to "Thinking about becoming a Fed - tell me about the retirement plan/pensions"
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[quote=Anonymous]For FEHB, my understanding is that you need to either retire from a federal job OR qualify for a postponed retirements (which means you worked until your minimum retirement age (MRA) but opted to postpone receiving your FERS annuity). If you’re doing deferred retirement, which means you’ve left the federal government before reaching your MRA and are waiting to receive your FERS annuity. I found this explainer helpful: https://plan-your-federal-retirement.com/fers-deferred-retirement-vs-fers-postponed-retirement/ I’ve got 20 years of federal service, but would need to work another 10 to reach my MRA. While I would love to have the FEHB benefit, I’m not sure I can stick it out for another decade! FERS is a nice benefit as it offers a defined pension benefit, esp if you’ve got 20+ years of federal service. But you still need a healthy TSP plus SS in order to have a comfortable retirement. [/quote]
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