Social Security for Feds: The Special Retirement Supplement

Understanding Social Security for Feds: learn about the Special Retirement Supplement for some feds who retire before age 62.

Eligible FERS works that retire prior to reaching age 62 have an extra benefit that is designed to supplement social security payments. The Special Retirement Supplement (SRS) may contain features similar to social security retirement benefits, but despite a prominent misconception, it is not paid, administrated, or otherwise related to the Social Security Administration (SSA). OPM handles all of the operational procedures involved and is funded by FERS.

Our Special Provisions webinars are designed specifically for federal firefighters, LEOs, and ATCs!

Here’s how it works: The SRS acts as a bridge for those who retire from federal service before the age of 62, which is the youngest age someone can claim social security retirement benefits. Unlike benefits paid by the SSA, the SRS amount isn’t raised by any COLAs. And unless you are a special provisions employees who has not reached their minimum retirement age (MRA), the SRS payments are subject to the earnings test, which can reduce or eliminate the supplement. The MRA is between ages 55 and 57 depending on the year of birth and is structured similarly to the FRA (full retirement age) used for social security benefits.

Who is Eligible for the FERS Supplement?

First off, it is important to remember that the SRS is only available if you are collecting an immediate retirement. Those who take a deferred, postponed, or disability retirement cannot collect income from the SRS. With that in mind, here are the eligibility requirements for the SRS:

Have at least 30 years of service + have reached the applicable MRA.
Have at least 20 years of service + be at least 60 years old.
Under special provisions for Law Enforcement Officers (LEOs), Federal Firefighters, and Air-Traffic controllers.
If retiring under VERA/VSIP (voluntary separation incentive).

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Until Next Time,

**Written by Benjamin Derge, Financial Planner, ChFEBC℠ The information has been obtained from sources considered reliable but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Benjamin Derge and not necessarily those of RJFS or Raymond James. Links are being provided for information purposes only. Expressions of opinion are as of this date and are subject to change without notice. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors.