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 formula:

Where:

• High-3 salary — Your highest average basic pay over any 3 consecutive years
• Years of service — Your total creditable federal service
• 1% multiplier — Standard multiplier (1.1% if retiring at age 62+ with 20+ years)

Note: The calculator applies a simplified version of the MRA (Minimum Retirement Age) reduction if you enter your retirement age.

3. Understanding Your Pension

Details: Your FERS pension is one part of a three-part retirement package that also includes Social Security and the Thrift Savings Plan (TSP). The pension provides a guaranteed lifetime benefit.

4. Using the Calculator

Tips: Enter your high-3 average salary in dollars, years of service (can include partial years), and optionally your retirement age for MRA reduction estimates.

5. Frequently Asked Questions (FAQ)

Q1: What's included in high-3 salary?
A: Basic pay only - doesn't include bonuses, overtime, or allowances. Can be from any 3 consecutive years.

Q2: How is part-time service calculated?
A: Part-time service counts but is prorated based on actual hours worked versus full-time schedule.

Q3: When can I retire with full benefits?
A: Depends on your Minimum Retirement Age (MRA) and years of service. Common combinations are MRA with 30 years, age 60 with 20 years, or age 62 with 5 years.

Q4: Are there cost-of-living adjustments?
A: Yes, but only after age 62 (with exceptions for disability/survivor benefits).

Q5: How does early retirement affect my pension?
A: Retiring before age 62 with less than 20 years results in a 5% reduction for each year under 62.