Reply to Retiring from the Feds at 57

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Under standard Fers- no, you can’t collect health benefits while deferring pension and yes if you retire at 57 with only 15 years of service it will be a lifetime penalty of ~25% of your total pension (you get 5% less  for each year that you retire before 62) also keep in mind you will not be eligible for COLA adjustments until you reach 62.[/quote]

Is there a difference between 15 years of service and 20?[/quote]

Correct me if I'm wrong, but retiring at 57 with 20 years wouldn't have made a difference regarding the penalty.

In general, as long as you're 62 and have a minimum of 5 years, you get to retire.  The number of years naturally factors in how much you get.

[/quote]

Eligibility Information
Age	Years of Service
62	5
60	20
MRA	30
MRA	10
If you retire at the MRA with at least 10, but less than 30 years of service, your benefit will be reduced by 5 percent a year for each year you are under 62, unless you have 20 years of service and your benefit starts when you reach age 60 or later.

In general getting to 20 years allows a 60 year retirement, but OP just happens to hit 20 at 62 so no bueno. 
[/quote]

If I’m at 30 years before 62, do I avoid the penalty?  (I’ll be there at 59.). I confess I find this remarkably confusing.[/quote]

MRA+30 means no penalty so yes you can retire at 59 with no penalty.  [/quote]

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