1. What is the FERS Pension?

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

2. How Does the Calculator Work?

The calculator uses the basic FERS pension formula:

Where:

• High-3 Salary — Your highest average basic pay over any 3 consecutive years (usually the last 3 years before retirement)
• Years of Service — Your total creditable federal service (can include partial years)
• 1% — Standard multiplier for most FERS employees (1.1% if retiring at age 62+ with 20+ years)

3. Importance of Pension Calculation

Details: Understanding your potential FERS pension helps with retirement planning. The pension is just one part of the FERS retirement package, which also includes Social Security and the Thrift Savings Plan (TSP).

4. Using the Calculator

Tips: Enter your estimated high-3 average salary in dollars and your total years of federal service (including partial years as decimals). The calculator assumes the standard 1% multiplier.

5. Frequently Asked Questions (FAQ)

Q1: What if I retire at 62 with 20+ years?
A: The multiplier increases to 1.1% for those who meet these criteria.

Q2: How is the high-3 average calculated?
A: It's the average of your highest 3 consecutive years of basic pay (not including bonuses or overtime).

Q3: What's the maximum pension?
A: The maximum FERS pension is 80% of your high-3 average salary.

Q4: Are there reductions for early retirement?
A: Yes, if you retire under the MRA+10 provision (Minimum Retirement Age with 10-30 years service), your pension may be reduced by 5% per year under age 62.

Q5: Does military service count?
A: Military service can count if you pay a deposit to have it credited toward your FERS retirement.