Browsing: MRA – minimum retirement age

Q. I’m currently 31 and have 8 ½ years of government service. I’d like to retire as soon as possible, so what is the most practical course of action if you were in my shoes? Working to MRA of 57 (37 years of service), assuming the annuity is enough to support me in retirement, or waiting until 59 ½ to be able to collect the annuity and TSP payments? Or resigning at an earlier age?

Q. I’m a federal employee under FERS with a little bit of 11 years of service. I retired active-duty Army, receiving retirement active-duty annuity and disability pay from the Veterans Health Administration. I have no loans through TSP and will have a balance of about $95,000 when I intend to retire in June of this year at my minimum retirement age of 56. I intend to depend significantly upon TSP, $1,000 plus a month, until I reach the age of 62, when my Social Security will start paying out. What would be the consequences of beginning receiving monthly payments prior…

Q. I am a federal dual-status technician with the LA guard. I am 50 as of March 2018 and will have 28 years federal technician time on Sept. 22, 2018. Can I voluntarily retire and draw my FERS retirement, the supplement and my TSP  without being penalized the 10 percent? My actual minimum retirement age is 56 years and 8 months.

Q. My spouse is a U.S. Marshal retiring at age 51 with 28 years of service retiring next month. The question he has had a hard time getting answers to is transferring his TSP to an IRA and receiving monthly payments. He would like to transfer his TSP to an IRA to maximize his investment options, but is concerned if he takes immediate withdrawals that he will be forced to pay a penalty in addition to taxes. Is TSP the only option to taking immediate withdrawals before age 59.5? Can immediate withdrawals at 51 be made at firms such as…

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