“Hello, I am a vested former federal employee with the Naval Shipyard. I left federal employment in 2007 with 7+ years of service and am currently age 59. I am interested to know if making an application for FERS retirement is a simple process or one that would require an advisor. I no longer have physical access to the human resources office since it is located on a secure site nor would I know whom to contact there. Thank you.” – Norman
Let’s start by defining a deferred retirement:
- An annuity (retirement benefit) payable to an employee who left federal service with at least five years of creditable civilian service and before being eligible for an immediate retirement.
- A refund of retirement contributions would void your entitlement to a deferred retirement benefit.
Payable at age: | If you had at least this many years of service: | Reduced for age? |
62 | 5 | No |
60 | 20 | No |
MRA (55 – 57) | 30 | No |
MRA (55 – 57) | 10 | Yes |
Form to apply for deferred retirement: RI 92-19, Application for Deferred or Postponed Retirement
How is a deferred retirement computed?
1% x high-three average salary x years/months of creditable service = unreduced FERS retirement
- High-three average during YOUR CAREER
- Length of service that is CREDITABLE
- Cost of living adjustments after age 62 (diet COLA)
Norman’s example:
- Length of service: 7.5 years (7 years, 6 months of creditable service)
- High-three average from 2005 – 2007 (last three years of his career)
- GS 11, Step 6, Seattle, WA Locality: (daily average and there may have been a promotion, or a step increase or two along the way)
- 2005: $61,503
- 2006: $63,551
- 2007: $64,992
- Average: $63,348
1% x 7.5 x $63,348 = $4,751.10 / 12 = $395.92 / month
Information to contact OPM:
Call OPM if you can’t find an answer to your question on OPM.gov or if you can’t sign in to OPM Retirement Services Online to manage your annuity account. You may also need to call us for special or complex cases, or because we directed you to.
- Phone:1-888-767-6738
TTY: 711 - Hours: Monday thru Friday, 7:40 a.m. to 5:00 p.m. ET
Closed on federal holidays - Our busiest time is between 10:30 a.m. and 1:30 p.m. ET.