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MRA + 10, let's clear this up (no AI slop)
This is for "regular FERS". Special Category Employees (SCE) "don't have" MRA + 10 (see note at bottom).MRA + 10 retirement requires that you reach MRA AND have 10 years of service before separation. If you leave before you reach MRA, and/or before you have 10 years of service, it's deferred retirement (if you have at least 5 years of FERS service, you can apply for a deferred retirement later, but it's pension only, no other benefits. Deferred = "don't have the age" or "don't have the years". That's as far as I'll get into deferred retirement here.)As long as you have at least 5 years of qualifying FERS service, you can add any military time you bought back to get you to that 10 years.MRA + 10 comes with the usual FERS benefits except the supplement. So, yes, you can keep FEHB (if you met the 5 year requirement), FEGLI (it would get expensive, but it's an option), and sick leave conversion (time added to service time after you retire).However, MRA + 10 has some issues:There is no 1.1% multiplier with MRA + 10 retirement.There is no supplement with MRA + 10 retirement.Like other (regular-FERS) retirement options, there is no COLA on the FERS pension until after you've hit age 62.You can either select an immediate retirement or a postponed retirement.Immediate retirement option:Immediate pension, no gap in FEHB coverage, but, you're going to get hit with an age penalty. The age penalty is 5% for every year you are under age 62 at the time you begin collecting your FERS pension. The 5% is prorated by month. So, if you retire right at 57, it's a permanent 25% reduction.This "under age 62" applies even if you have 20 years of service, unless you wait until age 60 to collect your MRA + 10 retirement.So that leads us to...Postponed retirement option:You are allowed to postpone your retirement in order to reduce, or eliminate, your 5%/year age penalty.If you have at least 20 years of service, you would be able to start your postponed pension at age 60, eliminating the age penalty.If you have less than 20 years of service, you would need to wait until no more than 2 days before age 62 to collect your pension with a reduced/eliminated pension. Why not wait until after age 62? Because you will lose the ability to restart FEHB in retirement if you don't start your postponed pension at least 2 days before your 62nd birthday*.There is no FEHB coverage while the pension is postponed (some people may try to use Temporary Continuation of Coverage, fed's version of COBRA, to narrow that gap).Sources (because you want to verify all this, right?):https://www.opm.gov/retirement-center/publications-forms/pamphlets/ri92-19a.pdf(*the 2 days before requirement is found on page 4 of the above pamphlet. This requirement can be difficult to find elsewhere.)https://www.opm.gov/forms/pdf_fill/ri92-19.pdfhttps://www.opm.gov/retirement-center/publications-forms/csrsfers-handbook/ (Chapter 42)And because the FERS/CSRS can have some things that are out of date, you want to follow up with the current laws/regulations, which are cited in the handbook to help make it easier to find what you're looking for.)SCE note: MRA + 10 retirement generally does not apply to special category employees, due to their mandatory retirement age. However, I suppose it's possible that someone gets an age waiver, and then for some reason does not complete the required service time to hit full retirement options.
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