FERS Retirement Calculator
Estimate your FERS basic annuity using the standard formula with the 1.1% multiplier rule (age ≥ 62 and ≥ 20 years). Optional survivor election and MRA+10 early reduction are included. Enter annual High-3, service, age, and options.
2087 hours ≈ 1 year.
5% × (62 − age).
Result
Gross Annual Pension (Base)
Base = High-3 × Factor × ServiceYears.
Net Annual Pension (After Elections)
Net Monthly Pension
FERS Supplement (Approx., if age < 62)
Monthly ≈ (ServiceYears/40) × PIA. Paid only until age 62 if eligible.
- Multiplier: 1.0% normally; 1.1% if you retire at age ≥ 62 with ≥ 20 years of creditable service (includes sick leave).
- Early (MRA+10) reduction: 5% per year (pro-rated monthly) under age 62. Do not apply if you meet an unreduced rule (e.g., MRA+30, age 60+ with 20, or age 62+ with 5).
- Survivor election: Typical FERS reductions are 5% (25% survivor) or 10% (50% survivor). This calculator applies the chosen reduction to your annuity.
- Unused sick leave: 2087 hours ≈ 1 year; it increases the service used in the annuity formula.
- FERS supplement: Very rough estimate and eligibility rules apply; actual payment depends on OPM and earnings tests.
- This tool is an educational estimate and omits many nuances (special categories, deposits/redeposits, COLAs, FEHB premiums, taxes).
What is a FERS Retirement Calculator?
A FERS Retirement Calculator helps U.S. federal employees project their pension under the Federal Employees Retirement System (FERS). It combines your high-3 average pay, credible years of service, and eligibility rules to estimate your annual and monthly annuity, optional survivor benefits, and (if applicable) the FERS Annuity Supplement before Social Security begins. By presenting transparent formulas and intermediate steps, it clarifies how changes in age, service time, or survivor elections affect lifetime income.
About the FERS Retirement Calculator
For most employees, the basic annual annuity is
Here \(Y_s\) is total creditable service (including sick leave conversion, where \(2087\) hours \(\approx\) one year). If you retire before age-62 and are eligible, a FERS Annuity Supplement may approximate part of your age-62 Social Security:
where \(\text{SS}_{62}\) is your projected Social Security at 62 and \(Y_{\text{FERS}}\) is FERS service. Cost-of-living adjustments (COLAs) generally begin at age 62 (certain special categories excepted). Survivor elections reduce the retiree annuity in exchange for a continuing benefit to a spouse.
Display these formulas responsively with MathJax; use math.js to evaluate intermediate values while preserving the same equations on screen.
How to Use this FERS Retirement Calculator
- Enter your high-3 pay \(\overline{H3}\) and creditable service \(Y_s\) (include sick leave hours/2087).
- Select age at retirement and eligibility category; the tool sets the multiplier \(M\) accordingly.
- Optionally input projected Social Security at 62 to estimate the FERS Supplement.
- Choose a survivor election (none/25%/50%); the annuity is reduced by the corresponding factor.
- View annual and monthly pension, any supplement, and an estimated COLA start age and impact.
Examples (using the same formulas)
Example 1 — Standard case:
\(\overline{H3}=\$92{,}000,\ Y_s=28,\ \text{age }60\Rightarrow M=0.01.\)
$$\text{Annuity}=92{,}000\times 0.01\times 28=\$25{,}760\ \ (\$2{,}146.67\ \text{per month}).$$
Example 2 — Enhanced multiplier (62+/20+):
\(\overline{H3}=\$110{,}000,\ Y_s=22,\ \text{age }63\Rightarrow M=0.011.\)
$$\text{Annuity}=110{,}000\times 0.011\times 22=\$26{,}620.$$
Example 3 — Supplement & survivor election:
From Example 1, \(\text{SS}_{62}=\$20{,}000,\ Y_{\text{FERS}}=28\). Supplement:
$$\approx \frac{28}{40}\times 20{,}000=\$14{,}000.$$
If a 50% survivor is elected (10% reduction):
$$\text{New annuity}=25{,}760\times(1-0.10)=\$23{,}184.$$
FAQs
Q1: What is “high-3” and does overtime count?
High-3 is the highest average basic pay over any 36 consecutive months; overtime and most differentials generally do not count.
Q2: Do I get COLAs before age 62?
Typically no (exceptions exist for special categories). COLAs often begin at 62 for regular FERS retirees.
Q3: How is sick leave credited?
Unused sick leave converts to service time for annuity computation (about 2087 hours per year), but not for meeting eligibility.
Q4: Is the FERS Supplement guaranteed?
It’s subject to eligibility and earnings tests; earned income above limits may reduce the supplement before Social Security begins.
Q5: Can I model survivor benefits accurately?
Yes—apply the chosen reduction to your annuity and show the survivor percentage on the continuing benefit for your spouse.