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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]62 is the best time because in addition to the COLA's the formula is 1.1 instead of 1% for each year of work.  But those aren't the only concerns.  What is in your TSP, taxable accounts, will you have a mortgage, kids to put through college, etc?  [/quote]

The 1.1% vs. 1% of high three isn't based on being 62.  It's based on having 20 yrs of service vs. having less than 20 yrs of service.  If you have 20 yrs of service at age 59, you still get 1.1% of your high three.   [/quote]

This is so not true. I am 60 with 36 years of service, still can't get 1.1%. [/quote]

You are correct.... you have to be 62 AND 20 yrs to get the 1.1%.  I learned that you cannot separate at 60, defer receiving your fers pension until 62 AND then get the 1.1% multiplier even if you have completed 20 yrs at age 60 and defer.

So, PP is correct, you have to keep working until 62 (plus the 20 yrs) to get the 1.1% multiplier.  I thought that having the 20 yrs was good enough to qualify for the 1.1%.  That was not enough.[/quote]

What about postponed retirement?  That is different from deferred and at least provides a way to retain health insurance.  It is true that you can only get 1.1% at 62 with an immediate benefit, but the health insurance flexibility is nice if you want to do something outside of gov't before 62.[/quote]

This is only relevant for people at minimum retirement age with less than 20 years in. Op already has completed 20 years so gets a much better deal.[/quote]

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