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Your basic annuity is computed based on your length of service and “high-3” average salary. To determine your length of service for computation, add all your periods of creditable service, then eliminate any fractional part of a month from the total.
For purposes of the Federal Ballpark E$timate, we calculate an average lifetime replacement rate. What this means is that the FBE will take the number of years you expect to live in retirement and average the replacement rate during that time.
FERS is a retirement plan that provides benefits from three different sources: a Basic Benefit Plan, Social Security and the Thrift Savings Plan (TSP). Two of the three parts of FERS (Social Security and the TSP) can go with you to your next job if you leave the Federal Government before retirement.
Includes projected Federal annuity and Thrift Savings Plan benefits to help you quickly identify approximately how much you need to save to fund a comfortable retirement.
Eligibility is determined by your age and number of years of creditable service. In some cases, you must have reached the Minimum Retirement Age (MRA) to receive retirement benefits. Use the following chart to figure your Minimum Retirement Age.
Federal Ballpark Estimate - You can use the Federal Ballpark Estimate to automatically calculate estimates of future Civil Service Retirement System (CSRS) or Federal Employees Retirement System (FERS) retirement benefits and Thrift Savings Plan account balances. It will also let you know how well you are doing in meeting your savings goal.
You can make a deposit for creditable Federal Employees Retirement System (FERS) service you performed before 1989 during which retirement deductions were not withheld from your pay. The deposit amount is, generally, 1.3% of salary plus interest.
OPM is here to help you transition from serving the American people to enjoying your retirement. These links are useful to new and existing retirees throughout their retirement journey.
If your annuity has a Civil Service Retirement System (CSRS) and a Federal Employees Retirement System (FERS) component, you can still receive an annuity supplement. However, you must have completed one full calendar year of service subject to FERS computation rules.
For service under the Federal Employees Retirement System (FERS), you will get interest on the refund of those contributions if you worked more than one year. Interest is paid at the same rate that is paid for government securities.