SEPARATION FROM EMPLOYMENT

FEDERAL EMPLOYEES' RETIREMENT
(See Section V, Subject C, Page 16, Personnel Policies and Procedures Manual)

When You May Retire:

Eligibility requirements for immediate retirement are determined by age and years of service. You are eligible for voluntary/optional retirement at age sixty-two (62) with five (5) years of service, age sixty (60) with twenty (20) years of service, or age fifty-five (55) with thirty (30) years of service. Discontinued service retirement may be offered at any age with twenty-five (25) years of service or age fifty (50) with at least twenty (20) years of service. An employee with at least five (5) years of creditable service, who as a result of disease or injury and can no longer perform useful and efficient service in his/her position, may retire on disability.

Retirement Benefits:

A retiring employee may elect an annuity with no survivor benefits or a reduced annuity with survivor benefits. The amount of an employee's basic annuity is based on total years and months of service and the high-3 average salary. Contact the Extension Personnel Office for further information or estimates.

Death Benefits:

Death benefits are payable upon the death of any retiree or employee with at least eighteen (18) months of creditable service. Death benefits usually are paid as a monthly annuity to eligible survivors. Contact the Extension Personnel Office for further information or claim forms.

Retiree Survivor Benefits:

A federal employee may elect a reduced annuity to leave a Survivor Benefit. The maximum Survivor Benefit is fifty-five percent (55%) of the maximum annuity. If the spouse predeceases the retiree, then the retiree may revert back to the maximum annuity by contacting the Office of Personnel Management (OPM). For those retirees that have federal health insurance, a minimum of $3,600 must be used for calculating Survivor Benefits for the spouse to maintain health benefits after the retiree's death. Additional information may be obtained by contacting the Extension Personnel Office.

Withdrawal of Federal Employee's Retirement Contributions:

A federal employee may receive a refund of his or her contributions if separated from federal service for a period of thirty-one (31) days or more and is not eligible for an immediate annuity or deferred annuity within thirty-one (31) days of separation. Contact Personnel, Payroll and Benefits for proper forms.