Browsing: SRS

Q. If I retire at age 56 in January 2017 with 20 years’ federal law enforcement service with the Federal Bureau of Prisons, will there be a cap on the amount of money I can earn in 2017 and each year after while drawing the FERS supplement along with my pension? Also, if I draw out a one-time lump sum from my TSP to build a small cabin, is that considered earned income and will it cause me to lose my FERS supplement? What will be the tax rate for the TSP lump sum withdrawal at age 56? Will I…

Q. I’m planning to retire from federal service at age 59 with 26 of federal service. Will I be eligible for the SRS at this time, or would I have to wait until I’m 60 years old?