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Frequently Asked Questions

How do you calculate retirement FERS?

FERS (Immediate or Early) FERS annuities are based on high-3 average pay. Generally, the benefit is calculated as 1 percent of high-3 average pay multiplied by years of creditable service. For those retiring at age 62 or later with at least 20 years of service, a factor of 1.1 percent is used rather than 1 percent.

What is the FERS minimum retirement age?

You need to know your FERS MRA to find out if you are eligible for different types of FERS retirement. Your Minimum Retirement Age will range between 55 and 57, depending on the year you were born. Take a look at the list below to find your MRA for FERS Retirement…. Choose the year you were born to find your MRA.

What is the average FERS retirement?

What is the total retirement rate for FERS? The average government employee who retired in the 2016 financial year was 61.5 years old and served 26.8 years of federal service. The total monthly payment for employees who have resigned from CSRS in 2018 is $ 4,973. Retired workers under FERS have received an average monthly salary of $ 1,834.

How much income will my FERS pension provide in retirement?

System (FERS) benefit In general, your FERS benefit is 1% of your “high 3” average salary multiplied by the number of years and months of service. If you were at least 62 years old on leaving and at least 20 years old, your annuity is 1.1% of your “high 3” average salary multiplied by the number of years and months of service.

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