Here is how the SRS is computed for a retiree whose MRA is age 56 and who retires under FERS with 30 years of civilian service and an estimated age 62 Social Security benefit of $1200 a month. 1  The FERS service is divided by 40. 2  The age 62 Social Security benefit is multiplied by the fraction derived above.
The IRS allows you to combine money in a SEP IRA with money in a 401(k) plan, either by moving the SEP IRA money to the 401(k) or the 401(k) money to the SEP IRA.
SEP and SIMPLE IRA plans. These plans use IRAs to hold participantsâ retirement savings. You can withdraw money from your IRA at any time. A 10% additional tax generally applies if you withdraw IRA or retirement plan assets before you reach age 59Â½, unless you qualify for another exception to the tax.