FERS question after quitting FAA

[Sloppycobb13]

I quit the FAA.

Are you able to transfer the money contributed to FERS into another retirement account?

 

[Dolan]

Yes you are able to get your contributions out. Be warned that is a one way street with no means of ever getting it back in should you get rehired

 

[MJ]

you can also get partial payments at retirement

 

[TowerDonkey]

you can also get partial payments at retirement

I had questions about this also. Do you happen to have a resource for this info?

 

[MJ]

I had questions about this also. Do you happen to have a resource for this info?

Types of Retirement

Welcome to opm.gov

www.opm.gov

 

[Sloppycobb13]

Yes you are able to get your contributions out. Be warned that is a one way street with no means of ever getting it back in should you get rehired

Taking your FERS and putting it into an IRA means I will never get hired by the government again. OR taking my FERS means I'll never get hired as ATC again, because I'm 1000 percent okay with that. I just don't want to eliminate all federal jobs.

 

[MJ]

Taking your FERS and putting it into an IRA means I will never get hired by the government again. OR taking my FERS means I'll never get hired as ATC again, because I'm 1000 percent okay with that. I just don't want to eliminate all federal jobs.

Oh, yeah you can't roll it over into anything. Your contributions just gets paid out, with interest.

And it doesn't mean you can't work a federal position again, but you just start over from zero if you take the payout.