Federal Retirement Annuity (FERS) Calculator

FERS Annuity Formula:

\[ \text{Pension} = \text{High-3 Salary} \times \text{Years of Service} \times 1\% \]

Estimated Annual Pension:

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1. What is FERS Annuity?

The Federal Employees Retirement System (FERS) annuity is a defined benefit pension for eligible federal employees. It's calculated based on your high-3 average salary and years of creditable service.

2. How the Calculation Works

The basic FERS annuity formula:

\[ \text{Annual Pension} = \text{High-3 Salary} \times \text{Years of Service} \times 1\% \]

Where:

High-3 Salary — Your highest average basic pay over any 3 consecutive years
Years of Service — Total creditable federal service (can include partial years)
1% — Basic multiplier (1.1% if age 62+ with 20+ years service)

3. Special Cases and Adjustments

Special Provisions:

Law enforcement, firefighters, and air traffic controllers use 1.7% for first 20 years, then 1%
Early retirement reductions may apply if retiring before minimum retirement age
Survivor benefits reduce the annuity by about 10%

4. Using the Calculator

Tips:

Enter your highest 3-year average salary in dollars
Enter total years of service (can include fractions like 20.5 years)
For age 62+ with 20+ years, multiply result by 1.1

5. Frequently Asked Questions (FAQ)

Q1: What counts toward high-3 salary?
A: Basic pay only - does not include bonuses, overtime, or allowances.

Q2: How is part-time service calculated?
A: Part-time service counts fully but may affect high-3 calculation.

Q3: What about unused sick leave?
A: Unused sick leave converts to additional service time (174 hours = 1 month).

Q4: How does early retirement affect the annuity?
A: Reductions of 5% per year under age 62 (unless you have 30+ years).

Q5: Are there cost-of-living adjustments?
A: Yes, COLAs begin at age 62 (except for disability retirees).