Voluntary

• Age and Service Requirements for Voluntary Retirement
• MRA (Minimum Retirement Age) + 10 Retirement
• Computation of Annuity

Age and Service Requirements for Voluntary Retirement

Eligibility is based on your age and the number of years of creditable service and any other special requirements.  If you meet one of the following sets of requirements, you may be eligible for a voluntary immediate retirement benefit.   An immediate annuity is one that begins within 30 days after your separation.

Type of Retirement	Minimum Age	Minimum Service	Special Requirements
Voluntary (Optional)	62	5	None
	60	20	None
	MRA*	30	None
	MRA*	10	None (Note: Annuity is reduced by 5% for each year the employee is under age 62.)
	Any age	25	You must retire under special provisions for air traffic controllers, law enforcement or firefighter personnel.
	50	20
	Any age	25	OPM must have determined that your agency is undergoing a major reorganization, reduction-in-force, or transfer of function.
	50	20

*Determine Your MRA

If your year of birth is…	Your Minimum Retirement Age is…
Before 1948	55 years
1948	55 years, 2 months
1949	55 years, 4 months
1950	55 years, 6 months
1951	55 years, 8 months
1952	55 years, 10 months
1953 to 1964	56 years
1965	56 years, 2 months
1966	56 years, 4 months
1967	56 years, 6 months
1968	56 years, 8 months
1969	56 years, 10 months
After 1969	57 years

MRA (Minimum Retirement Age) + 10 Retirement

Age Reduction
If you have 10 or more years of service and are retiring at the Minimum Retirement Age, your annuity will be reduced for each month that you are under age 62.   The reduction is 5% per year (5/12 of a percent per month).  However, your annuity will not be reduced if you completed at least 30 years of service, or if you completed at least 20 years of service and your annuity begins when you reach age 60.  You can reduce or eliminate this age reduction by postponing the beginning date of your annuity.

Postponing the Beginning Date of Annuity to Reduce or Avoid the Age Reduction

You can reduce or eliminate the age reduction if you choose to have your annuity begin at a date later than the Minimum Retirement Age (MRA).  You can choose any beginning date between your MRA and 2 days before your 62nd birthday. However, you cannot begin your annuity while you are reemployed.

If you postpone the beginning date of your annuity, you should be aware of the following—

Life Insurance
You cannot continue your life insurance coverage unless you are receiving an annuity.  Therefore, if you
Postpone the beginning date of your annuity, your life insurance enrollment will terminate. When your annuity begins, the life insurance coverage you had when you separated from your employment will resume.

Health Insurance
If you postpone the beginning date of your annuity, you will be eligible to temporarily continue your health benefits coverage for 18 months from the date of separation from your employing agency; however, you must contact your agency within 60 days and pay the total premium, plus a 2% administrative charge.  When your annuity payments begin, you will again have the opportunity to enroll in a health benefits plan under the regular Federal Employees Health Benefits Program, and OPM will pay the Government share of the premium.

Long Term Care Insurance
If you already have Long Term Care Insurance Coverage when you separate for retirement, but postpone the commencing date of your annuity, your coverage will continue as long as you continue to pay premiums. If you are not enrolled in the Long Term Care Insurance Program when you separate for retirement, you can apply for enrollment anytime after your separation, even if you postpone the commencing date of your annuity.

COLAs
If you delay your annuity beginning date, your annuity rate will not include any cost-of-living adjustments (COLAs) that occur before you begin to receive the annuity. Once your annuity begins, you will be entitled to COLAs on any portion of your annuity which was computed under CSRS rules. However, you will not receive COLAs on the FERS part of your benefit until you are 62.

Survivor Benefits
If you defer receipt of your annuity and die before you begin to receive it, your spouse can still receive FERS survivor benefits.

Computation of Annuity

Go to the Computation Page to see how an annuity is calculated.