CSRS and FERS Retirement Eligibility and Available Options.

FEDERAL EMPLOYEE'S
CSRS / FERS RETIREMENT ELIGIBILITY

Federal Civil Service Retirement Planning and Guidance

There are two primary types of federal retirement, Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS). We discuss both options and show you how to determine your eligibility date. You may or may not be financially, emotionally, or physically prepared to retire on your eligibility date. Each person must evaluate their own unique personal situation before making this critical decision.

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CSRS SYSTEM OVERVIEW

You may retire under the Civil Service Retirement System (CSRS) at the following ages, and receive an immediate annuity, if you have at least the amount of Federal Service shown in the table below:

Type of Retirement	Minimum Age	Minimum Service (Years)	Special Requirements
Optional	62	5	None
	60	20
	55	30
Special Optional	50	20	You must retire under special provisions for air traffic controllers or law enforcement and firefighter personnel. Air traffic controllers can also retire at any age with 25 years of service as an air traffic controller.
Early Optional	Any Age	25	Your agency must be undergoing a major reorganization, reduction-in-force, or transfer of function determined by the Office of Personnel Management. Annuity is reduced if under 55.
Early Optional	50	20
Discontinued Service	Any Age	25	Your separation is involuntary and not a removal for misconduct delinquency.
Discontinued Service	50	20
Disability	Any Age	5	You must be disabled for useful and efficient service in your current position and any other vacant position at the same grade or pay level within your commuting area and current agency for which you are qualified. Must be prior to retirement, or within one year of separation, except in cases of mental incompetence.

FERS SYSTEM OVERVIEW

Most employees hired after December 31, 1983 are in the FERS system. The FERS plan consists of three parts:

     1.       Social Security Benefits
2.       Basic Benefit Plan
3.       Thrift Savings Plan

Employees pay Social Security taxes and contribute to the Basic Benefit Plan. Additionally, your agency contributes an amount equal to 1% of your basic pay into your Thrift Savings Plan (TSP) account. You are able to make tax-deferred contributions to the TSP and a portion is matched by the Government. The maximum employee contribution is currently 14%.

FERS ELIGIBILITY CHART

Eligibility is determined by your age and number of years of creditable service. In some cases, you must have reached the Minimum Retirement Age (MRA) to receive retirement benefits. Use the following chart to figure your minimum retirement age.

Minimum Retirement Age
If you were born	Your MRA is
Before 1948	55
1948	55 and 2 months
1949	55 and 4 months
1950	55 and 6 months
1951	55 and 8 months
1952	55 and 10 months
1953 - 1964	56
1965	56 and 2 monhts
1966	56 and 4 months
1967	56 and 6 months
1968	56 and 9 months
1969	56 and 10 months
1970 and after	57

Immediate - Immediate retirement benefits start within 30 days from the date you stop working. If you meet one of the following sets of age and service requirements, you are entitled to an immediate retirement benefit:

AGE	Years Service
62	5
60	20
MRA	30
MRA	10

If you retire at the MRA with at least 10, but less than 30 years of service, your benefit will be reduced by 5 percent a year for each year you are under 62, unless you have 20 years of service and your benefit starts when you reach age 60 or later.

Early - Refers to special eligibility rules as follows:

The early retirement benefit is available in certain involuntary separation cases and in cases of voluntary separations during a major reorganization or reduction in force. To be eligible, you must meet the following requirements:

AGE	Years Service
50	20
Any Age	25

Deferred - Refers to delayed payment of benefit until criteria are met, as follows:

If you leave Federal service before you meet the age and service requirements for an immediate retirement benefit, you may be eligible for deferred retirement benefits. To be eligible, you must have completed at least 5 years of creditable civilian service. You may receive benefits when you reach one of the following ages:

AGE	Years Service
62	5
60	20
MRA	30
MRA	10

Related Links:

FERS Publications - http://www.opm.gov/retire/pubs/pamphlets/fers.asp
FAQs (Excellent List by OPM) - http://www.opm.gov/retire/faq/faqs.asp
FERS Annuity Calculator - http://fedcalc.com FREE Online Calculator by FedCalc

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	CSRS & FERS Systems
	There are two retirement plans in the federal government. The Civil Service Retirement System (CSRS) and the Federal Employees Retirement Systems (FERS).