Should I Retire Now to Take the Supplemental Payment?

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By on June 5, 2017 in Q&A, Retirement with 0 Comments

Woman thinking looking up towards words that say 'now' and 'later'

Q: I meet requirements for immediate retirement from Federal service at 56 this October (MRA + 30). One thing I don’t want to lose is the supplemental payment until 62. Should I panic? Retire now? What do you know about all this?

A: You may delay your panic for a while.

  1. It’s not certain they will do away with the supplement.
  2. In the past, for less onerous changes, there has been enough warning for folks to act.
  3. If it were to happen, I bet there would be some type of grandfathering; after all, it would affect Congress too.

Having said all that – you should continue to pay attention to potential changes and be ready to act if necessary.

Agencies can request to have John Grobe, or another of Federal Career Experts' qualified instructors, deliver a retirement or transition seminar to their employees. FCE instructors are not financial advisers and will not sell or recommend financial products to class participants. Agency Benefits Officers can contact John Grobe at [email protected] to discuss schedules and costs.

© 2019 John Grobe. All rights reserved. This article may not be reproduced without express written consent from John Grobe.

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About the Author

John Grobe is President of Federal Career Experts, a consulting firm that specializes in federal retirement and career transition issues. He is also affiliated with TSP Safety Net. John retired from federal service after 25 years of progressively more responsible human resources positions. He is the author of Understanding the Federal Retirement Systems and Career Transition: A Guide for Federal Employees, both published by the Federal Management Institute. Federal Career Experts provides pre-retirement seminars for a wide variety of federal agencies.

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