.1% “bonus” annuity if I work as a reemployed annuitant until 62?

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I am a 60 year old with 31 years under FERS. I am considering retiring and becoming half time reemployed annuitant. Would I get the additional .1% “bonus” annuity if I work as a reemployed annuitant until I am 62?

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Asked on August 27, 2018 8:57 pm
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If you retire at age 60 with 31 years of service, your retirement would be calculated at the rate of 1% for your 31 years or 31% of your high-3 average salary. In order for a supplemental annuity to be payable the final period of reemployment must consist of at least 1 year of actual continuous full-time and/or part-time (equivalent to at least 1 year of full-time employment) service and then the computation of the supplemental annuity, FERS service is credited at the rate of 1 percent of the average salary per year of service. Part-time FERS reemployed annuitant service is computed using the part-time formula. The 1.1 percent of average salary per year of service applicable to annuities of people who retire at least age 62 with at least 20 years of service does not apply in computing a supplemental annuity.

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Posted by (Questions: 0, Answers: 296)
Answered on August 27, 2018 9:33 pm