Loans at retirement


Q. I plan on retiring in August with 31 years FERS service at MRA. I have an outstanding loan of $15,000. I know they will report it as income earned. Will I have to pay a penalty since I will only be 56 on the balance I owe? A. No penalty will be assessed.


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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 and view his blog at

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