Reply to I am X years old and have X saved in a retirement fund

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Me 43 - 450K
DH 41 - 350K (note - he will also have a govt pension as he has 15+ years)[/quote]
Assuming he works for govt another 15 years he would qualify.[/quote]

What do you mean will qualify if he works 15 more years.  The issue is when you exercise it and what you can exercise when you do retire (in order to take advantage of the health insurance retirement benefits I think you have to retire from an employed state.)  I have 16 years in as a federal employee and am 48.  If I quit my job on Monday I could still retire when I am old enough which is 57 and some period of months and receive the earned percentage of my high three salary.  It obviously becomes more valuable the longer you work and the higher your salary.

[/quote]

I don't think so.  You would qualify for a deferred annuity at age 62 if you quit Monday.  You have to have five years FERS service to be vested in the pension (that doesn't include creditable military service) so you meet the vesting requirement.  You wouldn't meet the age and time in service for a retirement at 57 + some months.  [/quote]

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