This Handbook provides an overview of federal laws affecting the elderly and retirement issues. Information discussed includes age discrimination in employment, elder abuse & exploitation, power of attorney & guardianship, Social Security and other retirement and pension plans, Medicare, and much more in 22 pages of materials.
Premature Retirement Rules For Central Government Employees In Nevada
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US-001HB
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In the event you earn the years of service necessary to receive a retirement benefit but have not reached the age required for an unreduced benefit, you may retire at any age with your benefit reduced by 4% for each full year you retire early.
A worker can choose to retire as early as age 62, but doing so may result in a reduction of as much as 30 percent. Starting to receive benefits after normal retirement age may result in larger benefits. With delayed retirement credits, a person can receive his or her largest benefit by retiring at age 70.
Your agency head must also request the U.S. Office of Personnel Management (OPM) issue a Voluntary Early Retirement Authority (VERA). You can qualify for early retirement at any age with 25 years of service or age 50 with 20 years of service. Otherwise, you typically qualify when you reach age 62.
Employees under CSRS can technically retire at any time. However, the earliest you can retire under CSRS without reducing your retirement benefits is 55. This low age is achievable only if you have 30 years of service. CSRS employees with more than 20 years of service of a minimum retirement age of 60.
Calculating the retirement age depends on your year of birth. If you were born before 1948, then you can retire at 55. If you were born in 1970 or later, you can enjoy minimum retirement at 57. And if you were born between 1948 and 1970, your minimum retirement age will be between 55 and 2 months and 56 and 10 months.
Early Retirement | You are eligible for an early retirement Social Security benefit at 62.
You can retire at age 55 with at least five years of service credit. Members under CalSTRS 2% at 60 also have the option to retire at age 50 with at least 30 years of service credit. In addition, if you took a refund and then reinstated, you must have performed at least one year of service after the most recent refund.
In that case, the government might offer you an early retirement with benefits. If you worked for the government for at least 20 years, you can receive this offer at age 50. If you worked for the government for at least 25 years, you can receive this offer at any age.
A worker can choose to retire as early as age 62, but doing so may result in a reduction of as much as 30 percent. Starting to receive benefits after normal retirement age may result in larger benefits. With delayed retirement credits, a person can receive his or her largest benefit by retiring at age 70.
