Ask the Lawyer received the following question (paraphrased for easier reading and clarity) from a reader on a legal matter that might be of interest to the entire audience.
What are the rules and regulations regarding an organization doing a major reorganization with the possibility of involuntary separation? What are my rights? If I am 50 with over 30 years of experience, should I retire now or find another job until I reach age 55? If my job is abolished under CSRS, would I receive a 2 percent penalty each year until I reach 55?
You ask a lot of questions! And they are good ones. If, as a result of a reduction-in-force or a job abolishment, you are separated or reduced in grade more than five grade levels you qualify for discontinued service, or early retirement. Under CSRS, you do have the 2 percent reduction in your annuity for each year under the age of 55. You have reached your high three; it just may not be the high three you would like to have. Whether you retire now or keep working depends on your personal circumstances, such as whether you could do something outside of the government. I suggest you obtain financial advice on the options you have.
Bill Bransford is managing partner of Shaw, Bransford & Roth, PC.
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