Browsing: MRA – minimum retirement age

Q. I was born Jan. 21, 1980, so I’m currently 37. I turn 57 (my minimum retirement age) in 2037. I have 10 years of AD service, from June 1998-May 2008. I joined the civil service a week after leaving the military and now have roughly nine years of service. I have bought back all 10 years of military service but am still in the Air Guard. The Guard position is not linked to my FERS position. If I retire at age 57, do I suffer any penalties or taxes for pulling before age 59½? Or do I need to follow…

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?

Q. I am a recent FERS retiree with 32 years of credited government service and retired at the minimum retirement age of 56 (I was born in 1959). I thought that I can withdraw my TSP at the MRA without incurring early withdrawal penalties. However, in reviewing my 2015 1099-R from TSP, box 7 indicates a (2), which I understand is an early distribution. Is this information correct?

Q. I turn 56 in February 2016. I plan to resign from the government, and, then, request and draw my retirement with federal health benefits when I reach my minimum retirement age at age 60. I was reading your post regarding FERS formula and saw this: You would only receive a refund of your retirement contributions if you resigned from the government and asked for one. If you did, you’d cancel all future entitlement to an annuity. I am “NOT” going to request a refund of my retirement contributions, but I am going to resign from the federal government. Will my resignation cancel all…

Q. I am 56 years old and meet my MRA with 31+ years of service for USPS. I’m looking at retiring in February 2016. I went to a retirement seminar, where I was told that I could request a one-time in-service withdrawal prior to separation. There would be 20 percent withholding for taxes. Form 75 states that I must be 59.5 for this to take place, or I could request a hardship withdrawal. If I can take a withdrawal, what form number is it, and where do I find it? Can I take this withdrawal? And what evidence is required to…

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