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FERS Sick Leave Conversion

The National Defense Authorization Act (HR 2647) was signed by the President that now allows FERS employees similar sickleave benefits as CSRS employees. However, the credit is phased in with a 50 percent credit for those who retire now and full conversion after January 1, 2014. Go to our Sickleave section for complete details and a conversion calculator. More to come.

FERS RETIREMENT ELIGIBILITY

Federal Employee's CSRS & FERS Federal Civil Service Retirement
& Financial Planning Resources

FERS Eligibility Menu

Determine Your Eligibility
FERS Eligibility Charts
FERS Disability Retirement (Links)
Selecting Your Retirement Date - The best date to leave
Early - Refers to special eligibility rules
Deferred
- How to initiate an annuity after leaving federal service
- Deferred annuity questions and answers
  - Impact on benefits
  - 1.1% annuity multiplier
- Survivor guidance (How to initiate an annuity)
Related Links
- Disability Retirement Information
- Creditable Service

Determine Your Eligibility

Most employees hired after December 31, 1983 are in the FERS system. The FERS plan consists of three parts:

Employees pay Social Security taxes and contribute to the Basic Benefit Plan. Additionally, your agency contributes an amount equal to 1% of your basic pay into your Thrift Savings Plan (TSP) account. You are able to make tax-deferred contributions to the TSP and a portion is matched by the Government. The elective deferral limit for 2010 and 2009 is $16,500.

FERS Eligibility Charts

Eligibility is determined by your age and number of years of creditable service. In some cases, you must have reached the Minimum Retirement Age (MRA) to receive retirement benefits. Use the following chart to figure your minimum retirement age.

Minimum Retirement Age
If you were born	Your MRA is
Before 1948	55
1948	55 and 2 months
1949	55 and 4 months
1950	55 and 6 months
1951	55 and 8 months
1952	55 and 10 months
1953 - 1964	56
1965	56 and 2 monhts
1966	56 and 4 months
1967	56 and 6 months
1968	56 and 9 months
1969	56 and 10 months
1970 and after	57

Immediate - Immediate retirement benefits start within 30 days from the date you stop working. If you meet one of the following sets of age and service requirements, you are entitled to an immediate retirement benefit:

AGE	Years Service
62	5
60	20
MRA	30
MRA	10

If you retire at the MRA with at least 10, but less than 30 years of service, your benefit will be reduced by 5 percent a year for each year you are under 62, unless you have 20 years of service and your benefit starts when you reach age 60 or later.

Early - Refers to special eligibility rules.

The early retirement benefit is available in certain involuntary separation cases and in cases of voluntary separations during a major reorganization or reduction in force. To be eligible, you must meet the following requirements:

AGE	Years Service
50	20
Any Age	25

Deferred

Refers to delayed payment of benefit until criteria are met, as follows:
If you leave Federal service before you meet the age and service requirements for an immediate retirement benefit, you may be eligible for deferred retirement benefits. To be eligible, you must have completed at least 5 years of creditable civilian service. You may receive benefits when you reach one of the following ages:

AGE	Years Service
62	5
60	20
MRA	30
MRA	10

How to initiate an annuity after leaving federal service

Many leave federal service for the private sector and often forget about their FERS contributions and annuity. If you worked for the civil service or postal service for at least five years before leaving, and didn't withdraw your funds, you can either collect a FERS annuity at the ages specified in the above chart as early as age 60 with 20 years service or age 62 with 5 years of service or accept a lump sum payment. The annuity is computed as a regular FERS annuity, see: http://www.federalretirement.net/fers_annuity.htm to estimate your monthly payment.

To collect your deferred annuity complete OPM form 1496A and send it to the address listed on the form. Contact OPM directly if you need assistance or to obtain a copy of this form with your service dates. The first part of the form is compelted by OPM and includes a summary of your federal service. To estimate the amount of the FERS annuity and/or the amount of the refund of the retirement contributions go to the FERS annuity page. There is no reason to delay applying for the annuity beyond your eligibility date as determined by your MRA, age 60 or 62. If you withdraw the funds, consider placing the money in a Roth or Traditional IRA with potential for growth. If you decide on the FERS annuity - the annuity will not increase by waiting beyond the date you are first eligibility for the annuity.

How a survivor can initiate a deferred annuity

If a former federal employee dies before collecting the deferred annuity the surviving spouse is eligible to receive 50% of their annuity payable starting on the date the deceased employee attained the age and service requirements for the annuity. Lesser amounts are payable if the surviving spouse wants to collect earlier. Review the process above and contact OPM to initiate your annuity.

For additional information on deferred retirement see:

Questions & Answers (Deferred Annuities)

QUESTION: The annuity section states that employees at 62 and over with 20 years experience use a factor of 1.1% to determine their annuity. Does this mean that if I work 40 years but retire under the age of 62 I am only entitled to use a factor of 1.0%? This seems illogical.
- Answer: You are correct. You must be 62 or older with at least 20 years of service for the 1.1% calculation to apply. Keep in mind that these laws are written by Congress and logic has never been a requirement. However, the difference is likely because the FERS annuity supplement only applies for those who retire younger than age 62. For more information on the FERS annuity supplement see:
QUESTION: If I leave service after 20 years but don't start to collect (i.e.,
defer the collection of my annuity) until 62 would I be entitled to the
1.1% factor?
- Answer: Yes, according to the OPM reference below, you could defer your annuity until you are age 62 to receive the 1.1% calculation. Reference: http://www.opm.gov/retire/pubs/pamphlets/forms/RI90-11.pdf. This may be a great option if you continue working until age 62 in your next career.
QUESTION: I am presently 48 with 23 years service (my MRA would be 56 and 30 years) and I would like to quit and do something outside of the government. Will I lose any retirement benefits and if not, when could or should I start collecting the annuity?
- Answer: If you left federal service, you could apply for a deferred annuity at age 60 or age 62. For more information: http://www.opm.gov/retire/pubs/pamphlets/forms/RI90-11.pdf.
QUESTION: I have 30 years service at age 52 and would like to retire. How will this impact my benefits.
- Answer: Unfortunately, you are not eligible to retire until you reach the minimum retirement age (MRA). If you leave prior to your MRA with 30 years of service, you would be eligible to apply for a deferred retirement when you reach the MRA, but with a deferred retirement you will not be eligible for the FERS supplement, life insurance or health benefits. Another factor to consider is that that you would not receive an annual COLA until you actually start your deferred retirement.
  
  If you wait to retire at your MRA, and you have had Federal Employee Health Benefit (FEHB) coverage for the past five years, then you can continue FEHB into retirement at the same rate paid by federal employees.

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