How to Calculate the FERS Basic Annuity

The 7-Minute Rule for Calculators - Military Compensation

1 percent of your high-3 typical income for each year of service Computation of CSRS Component Duration, Formula First 5 years of CSRS service 1. 5% of your high-3 average income for each year of service Second 5 years of CSRS service 1. 75% of your high-3 average salary for each year of service All years of CSRS service over 10 2% of your high-3 average wage for each year of service If retired under the special provision for firemens, law enforcement officers, or nuclear product carriers 2.

Your High-Three Estimate in our FERS Calculator - Retirement Benefits  InstituteRetirement Benefits Institute

2% of the remaining years of service times the high 3 average wage. If retired under the unique arrangement for Members of Congress or Congressional Employees 2. 5% of your high-3 average income multiplied by your years and months of service as a Member of Congress and/or Congressional Staff member, your military service while on a leave of lack as a Member and up to 5 years of other military service, 1.

5% service, do not go beyond 10 years, 2% of your high-3 typical salary multiplied by your years of other service in excess of ten years Decreases in Non-Disability Annuity Age If you retire under the MRA +10 provision If you have 10 or more years of service and retire at the Minimum Retirement Age (MRA), your advantage will be minimized by 5/12 of 1% for each full month (5% per year) that you were under age 62 on the date your annuity began.

If you hold off the start date of your annuity, the age reduction will be lowered or removed.  Check it Out  uses to both the Civil Service Retirement System and the Federal Worker Retirement System elements of your annuity, if you transferred to FERS and part of your annuity is computed under the CSRS arrangement.

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The reduction is 1/6 of 1% (2% annually) for every month that you are under age 55 at the time of retirement. Survivor Benefits If you are wed, your advantage will be reduced for a survivor benefit, unless your spouse granted your election of less than a complete survivor annuity.