Federal Retirement Income (FERS) Calculator

FERS Pension Formula:

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

Estimated Annual Pension:

Unit Converter ▲

Unit Converter ▼

From:	To:

1. What is the FERS Pension?

The Federal Employees Retirement System (FERS) pension is one part of a three-part retirement package for federal employees. The pension provides a monthly annuity payment 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:

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

Where:

High-3 Salary — Your average highest salary over any 3 consecutive years
Years of Service — Your total creditable federal service
1% multiplier — Standard FERS multiplier (1.1% if age 62+ with 20+ years)

Explanation: The calculator accounts for basic FERS pension calculations and includes adjustments for early retirement reductions if applicable.

3. Understanding Your FERS Benefits

Details: Your actual FERS retirement benefit consists of three components:

FERS Basic Benefit (calculated here)
Social Security benefits
Thrift Savings Plan (TSP) savings

4. Using the Calculator

Tips:

Enter your highest average salary over any 3 consecutive years
Include all creditable federal service (can include partial years)
For most accurate results, include your retirement age

5. Frequently Asked Questions (FAQ)

Q1: What is considered "High-3" salary?
A: Your highest average basic pay over any 3 consecutive years of creditable service, including locality pay but not bonuses or overtime.

Q2: Are there different multipliers?
A: Yes, if you retire at age 62 or later with 20+ years of service, the multiplier increases to 1.1%.

Q3: What about early retirement reductions?
A: If you retire before age 62 with less than 20 years, your pension is reduced by 5% for each year under 62. If you retire before your Minimum Retirement Age (MRA) with less than 30 years, it's reduced by 5% per year under MRA.

Q4: How does sick leave affect my pension?
A: Unused sick leave is added to your service time for pension calculation (2087 hours = 1 year).

Q5: What's not included in this calculation?
A: This doesn't include survivor benefits reductions, special provisions for law enforcement, or FERS Supplement for those retiring before age 62.