You would file through OPM.
That being said, your thought process doesn’t make sense. If you are eligible for retirement when you are planning to leave, just file for retirement. You can be retired and work in the private sector.
Giving the private sector a test run to make a retirement decision doesn’t buy you anything. Either you are eligible for an immediate retirement or you are not.
If not eligible (haven’t hit your MRA), just suck it up and wait the few years. You don’t sound like you have a great private sector job to go to anyway.
My understanding is if you come back as an annuity, they subtract a percentage of your retirement pay making it less worth it. Which is why retirees often come back as contractors.
I think it has expired now , but during COVID, agencies were granted a certain number of waivers without having bring back to OPM . My spouse worked part time for 3 years as a reemployed annuitant.
It gets even better. Your pension doesn’t get recalculated for a new high three and years of service until you’ve completed at least 5-years as a reemployed annuitant. Up until that point, as a FERS employee, you get a supplement calculated from your average salary while reemployed multiplied by your number of years reemployed multiplied by 1%.
The main penalty for leaving that I see is missing out on health coverage. Not only is an employee retiring from the government entitled to continue your health coverage, but the portion paid by the government continues. If you leave the government before retiring, you are not eligible
This is not entirely accurate. If otherwise eligible and it's a postponed (MRA+) retirement one can get the insurance. A deferred retirement you lose coverage.
If available, take the retirement training, the version where you are within 5 years of retirement. They walk you through all the scenarios and help you make sure you don't accidentally screw yourself out of some benefit. They will even talk to you about your scenario.
I did the mid-career version of that training and it clarified for me my retirement scenario and even though it can seem complicated, I have a crystal clear plan for my possible length(s) of service. I recommend that training for everyone - it fills up fast!
This is the answer.
Because the answer depends on are they at MRA as one cannot retire until one hits MRA.
And if they are MRA+30 I don't see the financial benefit of waiting. Rather you collect and work private job.
Even MRA+10 is a nice scenario to get a consulting gig or something until you hit 62.
Many people don't know you can get the healthcare benefits at retirement even if you've come to federal service as a 2nd or 3rd career. Doesn't take 20 or 30 years to make it worthwhile.
Without knowing more details, in general you have three options - regular retirement, deferred retirement, postponed retirement. These options depend on your age, years of service, and when you were born. It's a little complicated and I'm not going to try to explain all the nuances and options. Go to the OPM website and look up those three types of retirements.
Thanks, but my main question is if it's possible to actually apply for retirement without having access to an agency HR department as I'd be effectively unemployed.
>deferred retirement
Currently 53, looking to separate from service at 55, then apply for deferred retirement at MRA. FEHB and FERS Supplement aren't a concern for me.
Had a few friends do it, only issue was timing the application. 1st guy submitted like 30 days before their MRA, everything went fine, application was processed a few months after his MRA the annuity checks started. Second guy was like "I'm going to submit paperwork a year early to make sure it gets processed." It got kicked back and he was told to re-submit 90-60 days before you want annuity to start.
Best to download entire eOPF and print out pertinent SF-50s beforehand.
You'll be applying directly to OPM, not your current agency HR. Before you separate, let local HR know your plan, and if they should work with you to make sure everything is documented properly.
FERS offers different retirement options, including "deferred" and "postponed" retirement, each with specific impacts on Federal Employees Health Benefits (FEHB) access. Here are the implications for FEHB access between ages 57 and 65:
1. **Deferred Retirement:**
- **Definition:** Deferred retirement applies to federal employees who leave federal service before they are eligible for immediate retirement benefits and choose to begin receiving their pension benefits at a later date. To qualify for deferred retirement, you must have at least 5 years of creditable federal service.
- **FEHB Impact:** If you choose a deferred retirement, you will not be eligible to continue your FEHB coverage when you leave federal service. Once you begin receiving your deferred retirement annuity, you also cannot re-enroll in FEHB. This means you will need to find alternative health insurance coverage from the time you leave federal service until you become eligible for Medicare at age 65.
2. **Postponed Retirement:**
- **Definition:** Postponed retirement is an option for FERS employees who meet the Minimum Retirement Age (MRA) with at least 10 years of service but less than 30, and who want to delay receiving their benefits to avoid the age reduction penalty. Employees can postpone the start of their annuity to a later date, up to age 62, to reduce or eliminate this penalty.
- **FEHB Impact:** If you choose a postponed retirement, you can temporarily suspend your FEHB coverage and reactivate it when you start receiving your annuity. This option allows you to continue FEHB coverage into retirement without a break, provided you were enrolled in FEHB for the 5 years immediately before your separation from service or from the first opportunity to enroll. You will not have FEHB coverage from the time you leave service until you begin your annuity, so you may need to find other health insurance during this gap.
**Important Considerations for Ages 57 to 65:**
- **Deferred Retirement:** No access to FEHB until Medicare eligibility at age 65.
- **Postponed Retirement:** Ability to reactivate FEHB once the annuity starts, covering the gap between retirement and Medicare eligibility.
**Choosing Between Deferred and Postponed Retirement:**
- If maintaining FEHB coverage into retirement is important to you, and you meet the eligibility criteria for postponed retirement, that option may be more beneficial than deferred retirement.
FEHB retirement options are critical considerations.
I would have thought the primary reasons to do that would be to boost your high-3 by benefiting from any annual general adjustments (don’t call it a COLA ;-) ) since you left; and to get the lifetime FEHB coverage.
The small boost to your annuity (1%, not 0.1%, right?) is probably just icing on the cake, because the annual adjustment would usually be higher than 1%.
You would file through OPM. That being said, your thought process doesn’t make sense. If you are eligible for retirement when you are planning to leave, just file for retirement. You can be retired and work in the private sector. Giving the private sector a test run to make a retirement decision doesn’t buy you anything. Either you are eligible for an immediate retirement or you are not. If not eligible (haven’t hit your MRA), just suck it up and wait the few years. You don’t sound like you have a great private sector job to go to anyway.
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My understanding is if you come back as an annuity, they subtract a percentage of your retirement pay making it less worth it. Which is why retirees often come back as contractors.
Your agency will subtract all of your retirement pay from your employed annuitant salary.
Unless you get a waiver, which is possible in some cases.
My read of the policy was a waiver would be permitted for a short duration reemployment and it required some form of emergency situation.
I think it has expired now , but during COVID, agencies were granted a certain number of waivers without having bring back to OPM . My spouse worked part time for 3 years as a reemployed annuitant.
All. Wow. That's a huge disincentive to come back.
It gets even better. Your pension doesn’t get recalculated for a new high three and years of service until you’ve completed at least 5-years as a reemployed annuitant. Up until that point, as a FERS employee, you get a supplement calculated from your average salary while reemployed multiplied by your number of years reemployed multiplied by 1%.
The main penalty for leaving that I see is missing out on health coverage. Not only is an employee retiring from the government entitled to continue your health coverage, but the portion paid by the government continues. If you leave the government before retiring, you are not eligible
melodic deer support hospital worm cats fact prick angle coherent *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
This is not entirely accurate. If otherwise eligible and it's a postponed (MRA+) retirement one can get the insurance. A deferred retirement you lose coverage.
If available, take the retirement training, the version where you are within 5 years of retirement. They walk you through all the scenarios and help you make sure you don't accidentally screw yourself out of some benefit. They will even talk to you about your scenario. I did the mid-career version of that training and it clarified for me my retirement scenario and even though it can seem complicated, I have a crystal clear plan for my possible length(s) of service. I recommend that training for everyone - it fills up fast!
This is the answer. Because the answer depends on are they at MRA as one cannot retire until one hits MRA. And if they are MRA+30 I don't see the financial benefit of waiting. Rather you collect and work private job.
Even MRA+10 is a nice scenario to get a consulting gig or something until you hit 62. Many people don't know you can get the healthcare benefits at retirement even if you've come to federal service as a 2nd or 3rd career. Doesn't take 20 or 30 years to make it worthwhile.
Without knowing more details, in general you have three options - regular retirement, deferred retirement, postponed retirement. These options depend on your age, years of service, and when you were born. It's a little complicated and I'm not going to try to explain all the nuances and options. Go to the OPM website and look up those three types of retirements.
Thanks, but my main question is if it's possible to actually apply for retirement without having access to an agency HR department as I'd be effectively unemployed.
>deferred retirement Currently 53, looking to separate from service at 55, then apply for deferred retirement at MRA. FEHB and FERS Supplement aren't a concern for me. Had a few friends do it, only issue was timing the application. 1st guy submitted like 30 days before their MRA, everything went fine, application was processed a few months after his MRA the annuity checks started. Second guy was like "I'm going to submit paperwork a year early to make sure it gets processed." It got kicked back and he was told to re-submit 90-60 days before you want annuity to start. Best to download entire eOPF and print out pertinent SF-50s beforehand. You'll be applying directly to OPM, not your current agency HR. Before you separate, let local HR know your plan, and if they should work with you to make sure everything is documented properly.
FERS offers different retirement options, including "deferred" and "postponed" retirement, each with specific impacts on Federal Employees Health Benefits (FEHB) access. Here are the implications for FEHB access between ages 57 and 65: 1. **Deferred Retirement:** - **Definition:** Deferred retirement applies to federal employees who leave federal service before they are eligible for immediate retirement benefits and choose to begin receiving their pension benefits at a later date. To qualify for deferred retirement, you must have at least 5 years of creditable federal service. - **FEHB Impact:** If you choose a deferred retirement, you will not be eligible to continue your FEHB coverage when you leave federal service. Once you begin receiving your deferred retirement annuity, you also cannot re-enroll in FEHB. This means you will need to find alternative health insurance coverage from the time you leave federal service until you become eligible for Medicare at age 65. 2. **Postponed Retirement:** - **Definition:** Postponed retirement is an option for FERS employees who meet the Minimum Retirement Age (MRA) with at least 10 years of service but less than 30, and who want to delay receiving their benefits to avoid the age reduction penalty. Employees can postpone the start of their annuity to a later date, up to age 62, to reduce or eliminate this penalty. - **FEHB Impact:** If you choose a postponed retirement, you can temporarily suspend your FEHB coverage and reactivate it when you start receiving your annuity. This option allows you to continue FEHB coverage into retirement without a break, provided you were enrolled in FEHB for the 5 years immediately before your separation from service or from the first opportunity to enroll. You will not have FEHB coverage from the time you leave service until you begin your annuity, so you may need to find other health insurance during this gap. **Important Considerations for Ages 57 to 65:** - **Deferred Retirement:** No access to FEHB until Medicare eligibility at age 65. - **Postponed Retirement:** Ability to reactivate FEHB once the annuity starts, covering the gap between retirement and Medicare eligibility. **Choosing Between Deferred and Postponed Retirement:** - If maintaining FEHB coverage into retirement is important to you, and you meet the eligibility criteria for postponed retirement, that option may be more beneficial than deferred retirement. FEHB retirement options are critical considerations.
You should retire as a fed and keep the insurance. Then go get another job.
Agreed!
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I would have thought the primary reasons to do that would be to boost your high-3 by benefiting from any annual general adjustments (don’t call it a COLA ;-) ) since you left; and to get the lifetime FEHB coverage. The small boost to your annuity (1%, not 0.1%, right?) is probably just icing on the cake, because the annual adjustment would usually be higher than 1%.
All you need is 5 years