1. What is the FERS Pension?

The Federal Employees Retirement System (FERS) pension is a defined benefit plan for federal employees. It provides a monthly annuity payment in retirement based on your length of service and highest three years of salary.

2. How Does the Calculator Work?

The calculator uses the basic FERS pension formula:

Where:

• High-3 Salary — Average of your highest 3 consecutive years of basic pay
• Years of Service — Total creditable federal service (can include partial years)
• 1% — Multiplier for standard FERS retirement

Special Cases: The multiplier increases to 1.1% if you retire at age 62 or later with 20+ years of service.

3. Importance of Pension Calculation

Details: Understanding your FERS pension helps with retirement planning. It's one of three components of FERS (along with TSP and Social Security).

4. Using the Calculator

Tips: Enter your high-3 average salary in dollars, years of service (can include fractions like 20.5), and optionally your retirement age (for potential early retirement reductions).

5. Frequently Asked Questions (FAQ)

Q1: What counts toward the high-3 salary?
A: Basic pay only - does not include bonuses, overtime, or allowances. Part-time service is prorated.

Q2: How is service time calculated?
A: All creditable federal service, including unused sick leave (converted to days). Military buyback time counts if purchased.

Q3: Are there age reductions?
A: Yes, if you retire under age 62 with less than 20 years service (5% per year under 62).

Q4: What about special categories?
A: Law enforcement, firefighters, and air traffic controllers have different calculations (1.7% multiplier for first 20 years).

Q5: How does survivor benefit affect pension?
A: Electing a survivor annuity reduces your pension by about 10% for a full survivor benefit.