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We also use cookies to personalize your experience on our websites, including by Working with a qualified financial planner will assist you in making the best decision based on your particular situation. This benefit was designed to bridge the gap between when some federal employees retire and when they are first eligible for Social Security at 62. Therefore we would not be able to track your activity through the The annuity supplement portion of your monthly payment is subject to an annual earnings test. At what age should you start drawing Social Security? will not hand over your personal information to any third parties. If you are entitled to receive this benefit, it is included with the FERS basic retirement benefit, which is administered by OPM. Closed on federal holidays. web. The FERS Supplement: The Ultimate Guide - YouTube This picture shows the formula. We do not allow you to opt-out of our certain cookies, as they are necessary to Executive Order your earnings after expenses. The supplement applies only to certain FERSnot CSRSretirees who retire on an immediate annuity not reduced for age or who retire involuntarily before attaining minimum retirement age (55-57, depending on year of birth) or voluntarily because of a major reorganization, reduction in force, or an early retirement. The FERS Supplement is subject to the earnings test, which means for every $2 you earn above the annual limit ($18,240 for 2020), your FERS Supplement is reduced by $1. The supplement pays until Social Security eligibility (age 62), but it doesnt mean you have to start collecting your Social Security benefits. After reaching the minimum retirement age until the supplement ends at 62, an earnings test is applied by the Office of Personnel Management that can cause a reduction or elimination of the supplement. You cannot opt-out of our First Party Strictly Necessary There is no application for the FERS supplement. So if someone retires at 57 then they will receive the FERS supplement for 5 years while a 61 year old retiree will only receive the benefit for 1 year. As of now, FERS is still available and every person available to receive it will receive it.