Fers Calculator Retirement

FERS Retirement Pension Calculator

Regular Employee Law Enforcement / Firefighter / ATC

Your Estimated FERS Benefit

Annual Pension

Monthly Pension

Multiplier Applied

Total Creditable Service

function calculateFERS() { var high3 = parseFloat(document.getElementById('highThreeSalary').value); var age = parseFloat(document.getElementById('retirementAge').value); var years = parseFloat(document.getElementById('serviceYears').value) || 0; var months = parseFloat(document.getElementById('serviceMonths').value) || 0; var group = document.getElementById('specialGroup').value; if (!high3 || !age || (years === 0 && months === 0)) { alert('Please enter valid High-3 salary, age, and years of service.'); return; } var totalServiceInYears = years + (months / 12); var multiplier = 0.01; // Default 1% if (group === 'regular') { if (age >= 62 && totalServiceInYears >= 20) { multiplier = 0.011; // 1.1% } } else { // Special Group: 1.7% for first 20 years, 1% for years after if (totalServiceInYears > 20) { var annual = (high3 * 0.017 * 20) + (high3 * 0.01 * (totalServiceInYears – 20)); displayResults(annual, totalServiceInYears, "1.7% for first 20, 1% after"); return; } else { multiplier = 0.017; } } var annualPension = high3 * totalServiceInYears * multiplier; displayResults(annualPension, totalServiceInYears, (multiplier * 100).toFixed(1) + "%"); } function displayResults(annual, service, multText) { document.getElementById('fersResult').style.display = 'block'; document.getElementById('annualPension').innerText = '$' + annual.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('monthlyPension').innerText = '$' + (annual / 12).toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('multiplierUsed').innerText = multText; document.getElementById('totalServiceOutput').innerText = service.toFixed(2) + " Years"; }

Understanding Your FERS Retirement Calculation

The Federal Employees Retirement System (FERS) is a retirement plan that provides benefits from three different sources: a Basic Benefit Plan, Social Security, and the Thrift Savings Plan (TSP). This calculator focuses on the Basic Benefit Plan, often referred to as your FERS pension.

Key Components of the FERS Formula

Your FERS annuity is calculated based on a specific formula that considers your length of service and your "High-3" average salary.

• High-3 Average Salary: This is the highest average of your basic pay during any three consecutive years of service. This usually occurs during your final three years of federal employment.
• Length of Service: Your total years and months of "creditable service." This includes time spent as a federal employee and can also include unused sick leave and military service "buy-backs."
• The Multiplier: This is the percentage applied to your salary. For most employees, it is 1%. However, if you are 62 or older and have at least 20 years of service, the multiplier increases to 1.1%.

Example Calculation

Suppose a federal employee retires at age 63 with 25 years and 6 months of service. Their High-3 average salary is $90,000.

Scenario:

• Salary: $90,000
• Service: 25.5 years
• Multiplier: 1.1% (because they are over 62 and have 20+ years service)
• Calculation: $90,000 × 25.5 × 0.011 = $25,245 per year
• Monthly Benefit: $2,103.75

Special Provisions

Certain occupations, such as Law Enforcement Officers (LEO), Firefighters, and Air Traffic Controllers, fall under "Special Provision" rules. These employees contribute more to their retirement but are entitled to a more generous formula: 1.7% of the High-3 for the first 20 years of service, plus 1% for every year after that.

When Can You Retire?

Eligibility for an immediate unreduced annuity depends on reaching your Minimum Retirement Age (MRA), which ranges from 55 to 57 depending on your birth year. Generally, you need:

• Age 62 with 5 years of service
• Age 60 with 20 years of service
• MRA with 30 years of service
• MRA with 10 years of service (Reduced benefit)

Note: This calculator provides an estimate for educational purposes only. It does not account for survivor benefit elections, health insurance premiums, or tax withholdings. Consult with your HR office or the OPM for official retirement counseling.