Minimum possible age at retirement

[kyounge1956]

Public employees, including military: in your system, what is the minimum age at which an employee can retire and start drawing a retirement benefit?

In SCERS, it's possible to retire at any age with thirty years of service. With less than thirty years, you have to be at least 52 and have 20 years of service. Except 30-year employees, if you are either under 52 or under 20 years, you are not eligible for retirement benefits.

Please don't vote in the poll unless you are now or have been in the past, employed by local, state or federal government, including military.

 

[Nords]

I'm sure that a few young teenagers have talked their way past the military recruiters to get in their 20 years. I'd have to check on "celebrities" like Hackworth.

 

[kyounge1956]

I'm sure that a few young teenagers have talked their way past the military recruiters to get in their 20 years. I'd have to check on "celebrities" like Hackworth.

ISTM I read somewhere that one of the last surviving World War 1 veterans lied his way into the Navy at age 16.

Who's Hackworth?

 

[oneils]

I work for the Canadian government. So maybe not a lot of people will be interested to know some of our pension rules.

Minimum age to get an "immediate annuity" is 50. However there is a substantial penalty - 5% for every year you are under the age for 55.

Practically speaking, the minimum requirement for an unreduced annuity is 55 yrs old and 30 years service. You get 2% of your pay for every year of service to a max of 70% of the average of your best 5 years.

Another option to retire with an unreduced pension is to retire at 60. You can retire at 60 with an unreduced annuity, regardless of years in. So with 20 yrs in, a 60 year old can retire with 40% of the average of his best 5 years.

Hope this makes sense!

 

[Lisa99]

I voted before I read the requirements of the voter at the bottom of the first post (military, state, local, federal govt). Might want to put that stipulation in the header.

 

[Bimmerbill]

My minimum retirment age in the federal FERS system is 56 years and 4 months (for my age group). That comes with significant "early retirment" penalties and frozen COLA until age 62.

 

[Nords]

ISTM I read somewhere that one of the last surviving World War 1 veterans lied his way into the Navy at age 16.
Who's Hackworth?

Well, OK, you made me look up his enlistment age: he was 14 years old.

David Hackworth - Wikipedia, the free encyclopedia

COL "Hack" Hackworth USA (RET) was one of America's most decorated combat veterans, utterly lacking in social grooming or tact, an outspoken critic of the Vietnam War (after four tours there), and a pretty fair writer. He was also the military journalist who determined that CNO Admiral Boorda was wearing decorations to which he was not entitled, which may have been one of several factors causing Boorda to commit suicide.

 

[WhoDaresWins]

My agency requires that one be 55 with 20 years of service in order to retire. Military time can be purchased and count toward years of service.