Q. I have a FERS disability annuity (I have not reached my minimum retirement age). It is taxed as ordinary income, but is it considered as earned income for purposes of contributing to an IRA?
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’m considering deferring retirement. Is it possible and/or advisable to roll my TSP into a self-directed 401(k)? I will need access to cash until I reach my minimum retirement age in 2018.
Q. I am 46 years old. My minimum retirement age is 57. I am covered under FERS. At what age can I start my FERS annuity without penalty? If I retire at age 55 with 33 years of service, can I access my TSP without penalty? If yes, how?
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 am thinking about retiring July 2016 at 56 years old. This is my minimum retirement age (MRA), but I will only have 28 years federal service. Will I be penalized if I start TSP withdrawals before age 59½?
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…