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Retirement and You. Retirement and You What You Need To Know! Meyer J. Persow, US Office of Personnel Management. 55 years old with 30 years of service 60 years old with 20 years of service 62 years old with 5 years of service Also known as immediate or optional retirement. “Early Out”

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Retirement and you

Retirement and You

Retirement and You

What You Need To Know!

Meyer J. Persow, US Office of Personnel Management


Eligibility for federal retirement benefits csrs

55 years old with 30 years of service

60 years old with 20 years of service

62 years old with 5 years of service

Also known as immediate or optional retirement

“Early Out”

50 years old with 20 years of service

Any age with 25 years of service

Other types include disability, discontinued service, and deferred

Eligibility for Federal Retirement Benefits - CSRS


Eligibility for federal retirement benefits fers minimum retirement age

If you were born

Before 1948

In 1948

In 1949

In 1950

In 1951

In 1952

In 1953 through 1964

In 1965

In 1966

In 1967

In 1968

In 1969

In 1970 and after

Your MRA is

55

55 and 2 months

55 and 4 months

55 and 6 months

55 and 8 months

55 and 10 months

56

56 and 2 months

56 and 4 months

56 and 6 months

56 and 8 months

56 and 10 months

57

Eligibility for Federal Retirement Benefits – FERSMinimum Retirement Age


Five years before retirement
Five Years before Retirement

  • Important because you must have health benefits and life insurance coverage for 5 years immediately before retirement in order to keep it after retiring.

  • You may also need some preliminary information to make decisions about when you can afford to retire and make any necessary payments to get credit for military or FICA service or repay any retirement contribution refunds.

  • In order to keep health benefits after retiring you must:

    • be covered when you retire

    • have been continuously covered by FEHB, TRICARE or CHAMPUS for 5 years immediately prior to retirement or during all of your Federal employment since your first opportunity to enroll

    • OPM can waive the five-year requirement under certain circumstances


Five years before retirement1
Five Years before Retirement

  • In order to keep life insurance coverage after retiring you must:

    • be covered when you retire

    • have not converted your coverage to an individual policy

    • your annuity must begin within 30 days, or if you are retiring under the MRA+10 provision of FERS, your coverage is suspended until your annuity begins

    • you were insured for life insurance for the five years immediately preceding retirement or the full periods of service when coverage was available

    • You can keep your optional life insurance in retirement if all of the following conditions are met:

      • you were eligible to continue your basic coverage; and

      • you were covered by the optional life insurance for the five years immediately preceding retirement


Five years before retirement2
Five Years before Retirement

Other Important Things to Do

  • Review you OPF to make sure that all of your service has been verified

  • Make any deposits for military service performed after 1956

  • Make any deposits for any Federal service in which retirement contributions were not withheld from your salary

  • Make any redeposit of any funds that were refunded to you if you had a break in service

    And most important


One year before retirement
One Year Before Retirement

  • Confirm when you will be eligible to get a retirement benefit

  • Decide when you want to retire

  • Get information on other benefits you may be eligible for (TSP, SSA, IRA, pensions from private industry

  • Tell your supervisor about your plans

  • Attend a pre-retirement counseling seminar

  • Review your OPF

  • Contact OPM’s Retirement Operations Center in Boyers, PA to ensure that all of your Individual Retirement Records (SF 2806) are on file. NOTE: The ROC will only have an IRR if you changed agencies during your career or your payroll is being cross serviced by a different agency such as GSA or NFC


Six months before retirement
Six Months Before Retirement

  • Resolve any financial indebtedness to your agency. Examples of causes for indebtedness include: outstanding travel advances, overpayments of salary, advanced leave.

  • If you are receiving military retired pay, decide on whether you want to waive it in order to receive credit for your military service in your annuity.

  • Start looking for that warm, sunny place to call home.


Two months before retirement
Two Months Before Retirement

  • If you haven’t already done so, choose your exact retirement date. Your benefit can be estimated based on the exact date.

  • Complete an application for retirement (SF-2801) which is available for the OPM website or your HR office.

  • If you made a deposit for military service, check with your payroll office to ensure that they forwarded the correct information to OPM.

  • Make sure someone is planning a huge retirement party for you!


Important contacts
Important Contacts

  • US Office of Personnel Management, Retirement Operations Center, Boyers PA 16017 or via email at retire@opm.gov

  • www.opm.gov/retire

  • DFAS, Cleveland Center, Retired Pay Operations, P.O. Box 99191, Cleveland OH 44199-1126

  • Local Social Security Office (to check on Medicare eligibility)