March 29, 2010 at 3:24 pm #96157
I am wondering if anyone can help me understand the difference between early retirement and optional retirement in the government. Thoughts?
March 29, 2010 at 5:39 pm #96167
There are several differences.
First, An early retirement can only be taken when one has been offered by the employing agency, usually because there is a major reorganiztion, a reduction-in-force, or a transfer of function.
When an early retirement is offered, the “eligibility rules” are different:
– age 50 and 20 years service or
– any age with 25 years service.
If the retiree is under age 55, there is also a reduction in the annuity.
For an optional retirement (meaning the employee chooses to retire, under normal circumstances) the eligibility requirements include:
– age 62 and 5 years, or
– age 60 and 20, or
– age 55 and 30.
Check this site: http://www.opm.gov/retire/faq/pre/faq11.asp
March 30, 2010 at 1:19 pm #96165
I agree with Marie, but she failed to mention that her eligibility rules were for CSRS only. FERS employees also can go at 62 with 5 yrs, 60 and 20, MRA (55-57) and 30. There is NO reduction to the annuity for early out under FERS.
March 30, 2010 at 2:28 pm #96163
I’m a CSRS’er and forgot about my FERS brethren!
March 30, 2010 at 3:07 pm #96161
April 7, 2010 at 2:45 pm #96159
Thank you, all!
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