Early separation under FERS

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Q. I’m 52 years old with 31 years of U.S. Postal Service time. I am contemplating leaving my federal job early. I know my minimum retirement age is 56. I would like to keep my health insurance and life insurance for my family. What are my options at this point? Deferred or postponed? Will I be able to still receive my Social Security supplement at 56? What about the money in my TSP and FERS accounts?

A. The vested balance in your TSP account is yours to keep, and you may retain and manage your TSP account for life or until you deplete it, whichever comes first.

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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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