Amandamarie29
New member
Does anyone know how long you must be a full time carrier to qualify for your pension? I’ve heard people say both 5 and 10 years. Thanks!
As long as you have 5 years as a regular you could leave the USPS prior to age 62 and defer the retirement.I understand the MRA. I’m asking more as if I wanted to leave the post office before retirement age. How many years do you have to put in to qualify for a pension (understand that the pension wouldn’t amount to much, but you’d at least have one).
Ok thank you. The reason I ask is because I’m finishing my degree and I have 4.5 years in as a full time regular right now. I don’t want to leave the post office and then find out I was close to qualifying for a pension.As long as you have 5 years as a regular you could leave the USPS prior to age 62 and defer the retirement.
If a career employee wanted to quit and get their retirement contributions they can do that anytime. For someone close to the 5 year mark I think that in the long run that would be foolish, better to work the 5 years then quit and get the small retirement annuity at 62 than taking the small lump sum now. If anyone wants to know what that amount is just look at your pay stub on the bottom right it says "retirement" that's the amount you have contributed towards FERS so far. Now that is only updated yearly so it will not include any contributions for the current year, but that's not too hard to guesstimate. Also if you were to quit and request that money as a lump sum refund there are no taxes due on it. You already paid the tax when you earned that money.I may be wrong on this but I think , if you leave you can ask for what you paid in on your retirement ( a manager told me that, so ask for yourself) and roll over your tsp. But it is 5 years and I would advise you to count your time for yourself, if you’re off one day it can affect it. Another thing, when you get within a little while of your 5 years, your manager can run your numbers and give you an idea of what you have accumulated. Remember the number they give you is before taxes. Someone can tell you what that form is.
If a career employee wanted to quit and get their retirement contributions they can do that anytime. For someone close to the 5 year mark I think that in the long run that would be foolish, better to work the 5 years then quit and get the small retirement annuity at 62 than taking the small lump sum now. If anyone wants to know what that amount is just look at your pay stub on the bottom right it says "retirement" that's the amount you have contributed towards FERS so far. Now that is only updated yearly so it will not include any contributions for the current year, but that's not too hard to guesstimate. Also if you were to quit and request that money as a lump sum refund there are no taxes due on it. You already paid the tax when you earned that money.
Sorry, I don't have any idea how that works.Charlie same subject only different topic! I bought back military time and thought that sum would also show on my pay stub but it doesn't. Do you have any knowledge on this topic? Like where did that amount go?
You can check on your Form 50. The military time that you bought back increases your service time. As for the amount, I was sent a form that showed all of my payments and the total amount paid. I think that it is two separate things.Charlie same subject only different topic! I bought back military time and thought that sum would also show on my pay stub but it doesn't. Do you have any knowledge on this topic? Like where did that amount go?
You can check on your Form 50. The military time that you bought back increases your service time. As for the amount, I was sent a form that showed all of my payments and the total amount paid. I think that it is two separate things.
Is that correct? I have read in other places that you could request your contributions back (without earned interest) if you were quitting before 5 years but after the 5 year qualification you were locked in. If you can get it back anytime I may stay a little longer than 5.If a career employee wanted to quit and get their retirement contributions they can do that anytime.
You know until you ask I was certain you could but now, hmm. I am 100% sure that if you quit before the 5 years you can get it and I still think you can after the 5 years but I'm not quite sure about that now. Sounds like you should do a little research at opm.gov. before you make a decision.Is that correct? I have read in other places that you could request your contributions back (without earned interest) if you were quitting before 5 years but after the 5 year qualification you were locked in. If you can get it back anytime I may stay a little longer than 5.