Fers Retirement Calculator

FERS Retirement Annuity Calculator

Average of your highest 3 consecutive years of basic pay.

Total years including unused sick leave conversion.

Your age at the time of retirement.

Your Estimated FERS Benefit

Annual Annuity: $0.00

Monthly Payment: $0.00

Pension Multiplier applied: 1.0%

function calculateFERS() { var high3 = parseFloat(document.getElementById('high3Salary').value); var years = parseFloat(document.getElementById('yearsOfService').value); var age = parseFloat(document.getElementById('retirementAge').value); var resultDiv = document.getElementById('fers-result'); if (isNaN(high3) || isNaN(years) || isNaN(age) || high3 <= 0 || years < 0 || age = 62 && years >= 20) { multiplier = 0.011; } var annual = high3 * years * multiplier; var monthly = annual / 12; document.getElementById('annualPension').innerText = '$' + annual.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('monthlyPension').innerText = '$' + monthly.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('multiplierUsed').innerText = (multiplier * 100).toFixed(1) + '%'; resultDiv.style.display = 'block'; resultDiv.scrollIntoView({ behavior: 'smooth' }); }

Understanding Your FERS Retirement Calculation

The Federal Employees Retirement System (FERS) is a defined benefit plan providing a "pension" for federal employees. Your retirement annuity is based on a specific formula that considers your length of service and your salary history.

The Three Key Components

• High-3 Average Salary: This is the highest average of your basic pay over any three consecutive years of service. It typically occurs during your final years of employment.
• Years of Creditable Service: This includes your total years and months of federal service. You can also add credit for unused sick leave, which can increase your total service time for calculation purposes.
• The Multiplier: For most FERS employees, the multiplier is 1%. However, if you retire at age 62 or older with at least 20 years of service, the multiplier increases to 1.1%, significantly boosting your lifetime benefit.

Calculation Example

If an employee retires at age 63 with 25 years of service and a High-3 average salary of $100,000, the calculation would look like this:

$100,000 (High-3) x 25 (Years) x 1.1% (Multiplier) = $27,500 per year

Because this employee is over 62 with more than 20 years of service, they qualified for the 1.1% multiplier rather than the standard 1% multiplier.

Important Considerations

Note that this calculator provides an estimate of your gross annuity. Your actual take-home pay in retirement will be lower due to deductions for:

• Federal and State Income Taxes
• Federal Employees Health Benefits (FEHB) premiums
• Federal Employees' Group Life Insurance (FEGLI)
• Survivor Benefit elections for your spouse

Additionally, FERS retirees may be eligible for a Social Security Supplement if they retire before age 62, provided they have reached their Minimum Retirement Age (MRA) and have 30 years of service, or are age 60 with 20 years of service.