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][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.

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How much time in service do you need to qualify for a pension (however minimal?)[/quote]

It's a combination of years of service and age with year if birth factoring in. This explains it:
http://www.opm.gov/retire/pre/fers/eligibility.asp

Basically, to get full benefits you need 5 years if you wait til you are 62. If you have 20 years, you can get full benefits at age 60. If you have 20 years you can get full benefits at an age that is determined by your birthdate (ranging from 55 to 57). If you have 10 years you can get partial benefits starting at the lower age, but you take a significant cut to the amount you gevt monthly.

You can, however, just defer getting the benefits until you reach the age needed to not take the benefit cut. 
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