What Is Creditable Service? You may have heard the term “creditable service,” but what exactly is creditable service, and why does it matter? Creditable service refers to the years of service when your salary was subject to FERS deductions. Which for most Federal employees will be every year of their civilian career. Now, this importantContinue reading “What Is FERS Creditable Service And Why Is It Important?”
What is the MRA? The minimum retirement age (MRA) is the earliest age at which most Federal employees may retire. Why Is It Important? Your MRA will determine when you’re eligible for different types of FERS retirement options. For example, your MRA will determine whether you are eligible for the MRA+ 10 retirement option. YouContinue reading “What Is The FERS MRA?”
In this video, I’ll cover the MRA+ 10 retirement option in under 3 minutes. If you want to learn about the MRA+ 10 option, read this article and if you want to learn about other FERS immediate retirement options, watch this video.
Your FERS pension has a survivor benefit. The survivor benefit allows your spouse (or someone else with an insurable interest) to receive a portion of your pension when you pass away in retirement. If you’re married when you retire, you’ll need to make an election. However, deciding which benefit to select can be challenging asContinue reading “What Happens To Your FERS Pension When You Kick The Bucket?”
In this video, I’ll cover the 5 things you need to know about buying back military time. Use the DFAS Military Buy Back Estimator to get your estimated buy back cost. And if you want to learn more about the FERS pension, read this article.
As a Federal employee, you are not offered short-term disability coverage. However, you do have protection against a long-term disability via the FERS Disability Retirement Option. While many people dismiss the need for disability protection, the Social Security Administration states that 25% of people who are 20 years old today will be disabled for 90Continue reading “The FERS Disability Retirement Option”
Federal employees covered under FERS who separate from service before meeting the requirements for an Immediate retirement might still be eligible for a pension under the Deferred retirement option. This video will review the FERS Deferred retirement in under 3 minutes. To learn more about the other FERS retirement options, read this quick summary ofContinue reading “The FERS Deferred Retirement In Under 3 Minutes (VIDEO)”
Federal employees covered under the FERS retirement system are offered a unique retirement option, the MRA+10. The MRA+10 option allows you to retire at your minimum retirement age (MRA) with as few as 10 years of service. Hence, if you want to retire but aren’t eligible for an immediate unreduced retirement under the standard ageContinue reading “What is the FERS MRA + 10 Retirement?”
If you are covered by FERS and retire before age 62, you may be eligible for a pension supplement called the Special Retirement Supplement (SRS), also known as the FERS Supplement. In this video, I’ll cover four key things you need to know about the SRS. If you want to learn more about the SRS,Continue reading “The 4 Things You Need To Know About The FERS Supplement (VIDEO)”
If you are covered by FERS and retire before age 62, you may be eligible for a pension supplement called the Special Retirement Supplement (SRS), also known as the FERS Supplement. Because Social Security is a key component of your FERS pension, the SRS is designed to bridge the gap between when you retire andContinue reading “The FERS Supplement At A Glance”