Great job! I took a postponed retirement 2 years ago at 56/6 months. I am now 4 years away from turning my pension on and getting my FEHB back. It's amazing how many people that work in HR in OPM don't really understand the difference between DeFerred and Postpone retirements. Thanks for your video and helping with this topic!!
Great video! My wife will stop working at 50 and have 20 years of service and defer her retirement until 62, or we thought. You confirmed she can defer until 60 since she'll have 20 years. We're not concerned with health insurance since I'm retired military and have Tricare. Thanks for the video!
Given the fact that the current administration is thinking of reducing the size of governemnt. Are there any options for someone who meets the retirement criteria but isn't 62 yet and still wants the 10% increase at 62. For example, you are 60 with 30 years of service and you really want retire at 62. Are there any options that the government offers to separate at 60, delay collection of a pension to 62, and gain the 10% increase then?
A question! At 4:37, when retiring at 58 yold and 15 years of service, you mentioned about 20% reduction...FROM WHAT AMOUNT??? THIS IS NOT CLARIFIED... Is it reduced from the high 3 of the 58, 57, 56 year old salaries, or from the salaries which would have been at 62 prorated with the inflation from when a person was 58 years old upon retirement???
@@ramonmarquez2210no you have to make MRA plus 30 yrs of service or 60 years of age with 20 years of service. Any Postponed or deferred retirement equals no supplement
I am curious how Voluntary Early Retirement (VER) programs affect the retirement rules he is covering. USPS is currently offering incentives to retire earlier but I am unclear about how it would affect pension and insurance benefits. If it is only $15000, but disqualifies you from postponed retirement options it is a poor trade.
makes sense for those who did 5 years and want nothing to do with the government... will probably only get like $300 per month at age 62... not worth it!
If you could, please go over the possibility of FERS being cut. What that exactly means. We have read through as much as we can, but the wording keeps it extremely vague and extremely difficult. The main reason for this is, like they said, when they took away then orginal military retirement, FERS is too lucrative and needs to align more with corporate America.
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Great job! I took a postponed retirement 2 years ago at 56/6 months. I am now 4 years away from turning my pension on and getting my FEHB back. It's amazing how many people that work in HR in OPM don't really understand the difference between DeFerred and Postpone retirements. Thanks for your video and helping with this topic!!
Great video! My wife will stop working at 50 and have 20 years of service and defer her retirement until 62, or we thought. You confirmed she can defer until 60 since she'll have 20 years. We're not concerned with health insurance since I'm retired military and have Tricare. Thanks for the video!
Your videos give great information and advice.
Given the fact that the current administration is thinking of reducing the size of governemnt. Are there any options for someone who meets the retirement criteria but isn't 62 yet and still wants the 10% increase at 62. For example, you are 60 with 30 years of service and you really want retire at 62. Are there any options that the government offers to separate at 60, delay collection of a pension to 62, and gain the 10% increase then?
A question! At 4:37, when retiring at 58 yold and 15 years of service, you mentioned about 20% reduction...FROM WHAT AMOUNT??? THIS IS NOT CLARIFIED... Is it reduced from the high 3 of the 58, 57, 56 year old salaries, or from the salaries which would have been at 62 prorated with the inflation from when a person was 58 years old upon retirement???
My understanding is it would be your “high 3” salary average from when you begin your postponed retirement.
@freedomlineman3105 Thank you, this is what I was expecting, but it is not clearly defined anywhere I try read about it. ..
If you postpone the pension at age 57 with MRA + 10 and restart the pension at age 60 . Are you eligible for the supplement until age 62?
@ That is a very good question?? I do not know
@@ramonmarquez2210no you have to make MRA plus 30 yrs of service or 60 years of age with 20 years of service. Any Postponed or deferred retirement equals no supplement
What if we receive an involuntary separation from the new admin? Do we still have access to our TSP? What happens to our FERS pension?
Great subject & breakdown again. Thanks😊
I am curious how Voluntary Early Retirement (VER) programs affect the retirement rules he is covering. USPS is currently offering incentives to retire earlier but I am unclear about how it would affect pension and insurance benefits. If it is only $15000, but disqualifies you from postponed retirement options it is a poor trade.
I’m curious if you can access your TSP without penalty too??
@ probably not without penalty unless you turn 55 or older in the calendar year you retire. For certain public safety jobs it is 50 years old.
@ I think if you are 50 years or older with 20 years of service you are eligible for a VERA without penalty.
I don't quite get deferred. Seems unfavorable.
makes sense for those who did 5 years and want nothing to do with the government... will probably only get like $300 per month at age 62... not worth it!
I always like videos like this you do. When I'm asked, I just give them the video link and move on.
I have a question.... i will have 37 years at age 57... so does that mean I can take a postponed at age 50 with 30 years and collect at 57?
Yes! And get your FEHB back. Only downside is the high three will likely be based what it was when you left at 50
This sounds like an impossible situation requiring you to get hired at the age of 13!
@@CarlosRodriguez-ox3bg i have10 years right now and I'm 30... 20 more years put me at age 50
@ sorry somehow I misread and thought 37 years at 50!
No, you must work to your MRA to postpone.
If you could, please go over the possibility of FERS being cut. What that exactly means. We have read through as much as we can, but the wording keeps it extremely vague and extremely difficult.
The main reason for this is, like they said, when they took away then orginal military retirement, FERS is too lucrative and needs to align more with corporate America.
Do you get the supplemental still if you take the deferred retirement as long as you have 30 years of service when you retire?