WHEN | Are we there yet?
Exiting from the Career Highway into retirement is an exciting adventure, but you must be careful to follow all the rules for an immediate retirement under the Federal Employees Retirement System (FERS).
There are two eligibility requirements you must meet to receive a lifetime monthly payment from FERS:
- The right number of birthdays (age)
- The right amount of time (years of creditable service)
The age requirement is easy to understand, but the creditable service has a few more twists and turns to it.
WHAT | This vs. that
Let’s start by defining two Office of Personnel Management (OPM) terms that can be confusing: eligibility vs computation.
Step 1. Eligibility—first, only two types of creditable service are added together to meet this requirement:
- Federal covered service, that is, service in which the individual’s pay is subject to FERS retirement deductions
- Military service with deposit
Step 2. Computation—next, all three types of creditable service are added together to calculate the FERS pension:
- Federal covered service, that is, service in which the individual’s pay is subject to FERS retirement deductions
- Unused Sick Leave
- Military service with deposit
HOW MUCH | Age + Creditable Service for Eligibility
The eligibility requirements are dependent upon age at retirement—the younger you are, the more years of creditable service you’ll need to get a full FERS pension:
- Minimum Retirement Age (MRA) + 30 Years of Creditable Service
You also receive the FERS supplement, a separate payment, until you reach your 62nd birthday (See MRA chart below) - Age 60 + 20 Years of Creditable Service
You also receive the FERS supplement, a separate payment, until you reach your 62nd birthday
- Age 62 + 5 Years of Creditable Service
There is one more retirement eligibility option, but it is for a reduced FERS pension:
- Minimum Retirement Age (MRA) + 10 Years of Creditable Service
FERS pension is permanently reduced by 5% for every year you retire under age 62
| If you were born | Your MRA is |
| Before 1948 | 55 |
| In 1948 | 55 and 2 months |
| In 1949 | 55 and 4 months |
| In 1950 | 55 and 6 months |
| In 1951 | 55 and 8 months |
| In 1952 | 55 and 10 months |
| In 1953-1964 | 56 |
| In 1965 | 56 and 2 months |
| In 1966 | 56 and 4 months |
| In 1967 | 56 and 6 months |
| In 1968 | 56 and 8 mo |
| In 1969 | 56 and 10 mont |
| In 1970 and after | 57 |
WHAT ABOUT | FERS Special Provisions
Public Safety Officers who retire under FERS Special Provisions have a different set of eligibility requirements and a mandatory retirement age.
- Age 50 + 20 Years of Covered Service
You also receive the FERS supplement, a separate payment, until you reach your 62nd birthday
- Any Age + 25 Years of Covered Service
You also receive the FERS supplement, a separate payment, until you reach your 62nd birthday
- Mandatory Retirement Age
Law Enforcement Officer—Age 57
Air Traffic Controller—Age 56
Firefighter—Age 57
WHAT ELSE | Make Sure of This
Your creditable service will be tabulated with information from your Official Personnel Folder (OPF) and recorded on the FERS Immediate Retirement Application. It’s imperative that you know ahead of time if your personnel records are complete, accurate and up to date, otherwise the information that OPM uses to calculate your FERS benefits may be wrong.
