Fed Retirement Calculator

Federal Employee Retirement System (FERS) Annuity Calculator

Estimate your annual and monthly FERS Basic Annuity based on your years of service, high-3 average salary, and retirement age.

function calculateFERSAnnuity() { var yearsOfService = parseFloat(document.getElementById("yearsOfService").value); var high3Salary = parseFloat(document.getElementById("high3Salary").value); var retirementAge = parseFloat(document.getElementById("retirementAge").value); var isSpecialCategory = document.getElementById("isSpecialCategory").checked; var errorMessageDiv = document.getElementById("errorMessage"); errorMessageDiv.innerHTML = ""; // Clear previous errors document.getElementById("resultAnnual").innerHTML = ""; // Clear previous results document.getElementById("resultMonthly").innerHTML = ""; // Clear previous results if (isNaN(yearsOfService) || yearsOfService < 0) { errorMessageDiv.innerHTML = "Please enter a valid non-negative number for Years of Creditable Service."; return; } if (isNaN(high3Salary) || high3Salary < 0) { errorMessageDiv.innerHTML = "Please enter a valid non-negative number for High-3 Average Salary."; return; } if (isNaN(retirementAge) || retirementAge = 62 && yearsOfService >= 20) { multiplier = 0.011; // 1.1% for those retiring at 62+ with 20+ years } else { multiplier = 0.01; // 1.0% for all others } var annualAnnuity = high3Salary * yearsOfService * multiplier; var monthlyAnnuity = annualAnnuity / 12; document.getElementById("resultAnnual").innerHTML = "Estimated Annual FERS Basic Annuity: $" + annualAnnuity.toLocaleString(undefined, { minimumFractionDigits: 2, maximumFractionDigits: 2 }); document.getElementById("resultMonthly").innerHTML = "Estimated Monthly FERS Basic Annuity: $" + monthlyAnnuity.toLocaleString(undefined, { minimumFractionDigits: 2, maximumFractionDigits: 2 }); }

Understanding Your Federal Employee Retirement System (FERS) Benefits

The Federal Employees Retirement System (FERS) is a three-tiered retirement plan for federal civilian employees. It consists of three main components: the FERS Basic Benefit Plan, Social Security, and the Thrift Savings Plan (TSP). This calculator focuses specifically on estimating your FERS Basic Benefit Annuity.

How the FERS Basic Annuity is Calculated

Your FERS Basic Annuity is determined by a formula that takes into account three key factors:

1. Your "High-3" Average Salary: This is the highest average basic pay you earned during any 3 consecutive years of service. It typically occurs at the end of your career.
2. Your Years of Creditable Service: This includes all periods of federal civilian service for which retirement contributions were made, as well as creditable military service.
3. A Multiplier: This percentage is applied to your High-3 salary and years of service. The standard multiplier is 1.0% (0.01) per year of service. However, there are two important exceptions:
   • 1.1% Multiplier: If you retire at age 62 or older with at least 20 years of creditable service, your multiplier increases to 1.1% (0.011) per year of service.
   • 1.7% Multiplier for Special Category Employees: Certain occupations, such as law enforcement officers (LEO), firefighters, and air traffic controllers, are considered "special category" employees. If you meet the criteria for these roles, your multiplier is 1.7% (0.017) for all years of service.

The FERS Basic Annuity Formula:

Annual Annuity = High-3 Average Salary × Years of Creditable Service × Multiplier

Examples:

Let's look at a few scenarios to illustrate how the FERS Basic Annuity is calculated:

Example 1: Standard Retirement

• Years of Creditable Service: 25 years
• High-3 Average Salary: $80,000
• Age at Retirement: 58 (below 62, or less than 20 years if 62+)
• Multiplier: 1.0% (0.01)
• Calculation: $80,000 × 25 × 0.01 = $20,000 per year
• Monthly Annuity: $20,000 / 12 = $1,666.67

Example 2: Retirement with 1.1% Multiplier

• Years of Creditable Service: 25 years
• High-3 Average Salary: $80,000
• Age at Retirement: 62 or older
• Multiplier: 1.1% (0.011)
• Calculation: $80,000 × 25 × 0.011 = $22,000 per year
• Monthly Annuity: $22,000 / 12 = $1,833.33

Example 3: Special Category Employee Retirement

• Years of Creditable Service: 25 years
• High-3 Average Salary: $80,000
• Age at Retirement: 50 (assuming MRA met for special category)
• Special Category Employee: Yes
• Multiplier: 1.7% (0.017)
• Calculation: $80,000 × 25 × 0.017 = $34,000 per year
• Monthly Annuity: $34,000 / 12 = $2,833.33

Important Considerations:

• Social Security: FERS employees also contribute to and receive Social Security benefits. These are calculated separately by the Social Security Administration.
• Thrift Savings Plan (TSP): The TSP is a defined contribution plan similar to a 401(k). Your TSP balance and how you choose to withdraw it will significantly impact your retirement income.
• Minimum Retirement Age (MRA): While this calculator provides an estimate of your basic annuity, retiring before your MRA with insufficient years of service can result in reduced benefits. Consult OPM resources for specific MRA and reduction rules.
• Survivor Benefits: You may elect to provide a survivor annuity to your spouse, which will reduce your own monthly benefit.
• Cost of Living Adjustments (COLAs): FERS annuities are generally subject to annual COLAs, though they may be reduced for retirees under age 62.

This calculator provides an estimate for planning purposes only. For precise figures and personalized advice, always consult with a financial advisor specializing in federal benefits or contact your agency's HR/retirement specialist.