Working for Civil Service
I have always thought that working for the US Government as a civil servant, would be the way for some people to take early retirement. It sure worked out well for my cousin Tom. Both of my aunts were nurses and one worked for the veteran’s hospital and the other worked for the county hospital.
Differences between Government and Municipal Service
The aunt who worked for the vetern’s hospital was a true government civil servant. The other aunt who worked for the county had a job that had a lot of the same benefits and retirement as a civil servant, but she was not a true government civil servant. She was just like my cousin Tom. She worked for a municipality but she was not a governement worker in the true sense of the word.
If you entered Federal Service prior to January, 1987, you were covered under a plan known as CSRS or Civil Service Retirement System. These people do not contribute to Social Security and they don’t gvet any at age 66 or whenever.
Questions People Ask About Early Retirement
- Who is eligible for early retirement?
The Office of Personnel Management (OPM) has authorized the agency to offer early retirement to eligible employees. The agency may exclude employees in certain jobs that are critical to the agency’s operation. The agency may revise the list of eligible employees before the early retirement window closes. Unless you are excluded, you are eligible for early retirement as follows:
If you are under the Civil Service Retirement System (CSRS), you must have served in a position covered by the CSRS for at least l year out of the 2 years immediately before retirement. If you are under the Federal Employees Retirement System (FERS), this rule does not apply.
You must be at least 50 with 20 years of service or have 25 years of service at any age. At least 5 years must be civilian service, whether you are retiring under CSRS or FERS.
You must be serving under other than a temporary appointment. Continue reading US Government Civil Service Early Retirement