David1961
Thinks s/he gets paid by the post
- Joined
- Jul 26, 2007
- Messages
- 1,085
Has anybody received the FERS supplement ? This applies to federal employees. Was wondering what the process is.
The supplemental amount will be reduced if you earn money--take another job. It works like social security.
The supplemental amount will be reduced if you earn money--take another job. It works like social security.
Zinger, that is one thing I am concerned about.
Where is a good source to learn about the status?
Zinger, that is one thing I am concerned about.
Where is a good source to learn about the status?
for me, FERS supplement was only a 'carrot' the govt used to entice me to retire early. I chose to work until 62 and so glad I did! At 56, I would have NEEDED to take another job to make ends meet (and lost my fers supplement). working until 62, I was able to pay off everything and retire debt free, amass a huge savings account, and build up my TSP. and my fers retirement percentage also bumped up. 6 more years of me working and i'm set for life!!!! My buddy, however, retired at 56 and couldn't make it on fers plus supplement...He has been retired now for 6 years, and still working a 3 days a week job.
Also my agency needs more young engineers. We have good paying jobs but the work involves lots of travel to not so nice places and long days in the field. Enticing older folks to retire will open up more opportunities for the younger ones.
for me, FERS supplement was only a 'carrot' the govt used to entice me to retire early. I chose to work until 62 and so glad I did! At 56, I would have NEEDED to take another job to make ends meet (and lost my fers supplement). working until 62, I was able to pay off everything and retire debt free, amass a huge savings account, and build up my TSP. and my fers retirement percentage also bumped up. 6 more years of me working and i'm set for life!!!! My buddy, however, retired at 56 and couldn't make it on fers plus supplement...He has been retired now for 6 years, and still working a 3 days a week job.
I haven't worked in 3 years...he will work forever...that was the point!So you worked full time from age 56 to 62 and your good buddy has so far worked three days/week from age 56 to 62? I think your buddy won