Music as a federal employee, whether you are SERS or FERS, you already know that one huge benefit of working for the federal government is that after meeting eligibility, you'll receive a retirement pension. - FERS employees who retire on an immediate unreduced annuity before reaching age 62 are also entitled to receive a FERS special retirement supplement, or SRS. This payment is received in addition to your federal pension and is designed to help fill the gap between when you retire at age 62, which is when you can begin drawing Social Security benefits. - First, let's talk about who is eligible for an immediate unreduced annuity. You must retire at age 60 with 20 years of service at your minimum retirement age, or MRA, or with 30 years of service at your MRA. Even voluntarily retiring, for example, due to a RIF, or at your MRA if retiring under the voluntary early retirement Authority, or VERA. A special note: federal employees who retire under the MRA Plus 10 provision, deferred retirees, and disability retirees are typically not eligible for the SRS. - Now let's talk about how to estimate your SRS. First, take your Social Security benefit estimate at age 62, then multiply it by your total years of FERS service rounded to the nearest whole number. Finally, divide that number by 40. The SRS is a fixed amount that is established on the day you retire. It is not increased by any cost-of-living adjustments and it ends when you actually reach age 62 and become eligible for Social Security benefits. - Here's the great part: the SRS does not affect your Social Security benefits at all. Many people don't know this, but the SRS is paid by OPM, not by Social Security. However, like Social Security, it...
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Immediate retirement fund Sf 2801 loophole Form: What You Should Know
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