Many people have been considering early retirement in light of news about the IRS shutdown. But what are the rules?
An employee can retire early if he/she has 20 years of service and has reached the age of 50. If an employee has 25 years of service, he/she can retire early at any age!
Now, that does not mean you will necessarily be able to live on the amount of retirement money you will get! Checking with a retirement specialist can let you know what the amount of your pension will be when you retire.
In addition to pension, some employees may be eligible for Social Security at age 62. Some can qualify for a Social Security supplement even earlier than that.
When you retire from the IRS, you can get three pay checks. One is your pension. The second is Social Security. The third is the money that is in your Thrift Savings plan.
NTEU73 suggests that you make an appointment with United Benefits when they are here! They are experts on Federal Retirement and can even walk you through the process.
It can be a difficult decision for some to quit work. But there are resources available to help make your decision easier.