Financial Disclaimer: This calculator is for informational purposes only. It is not financial advice. Consult a licensed financial advisor or your agency HR office before making retirement decisions.
Enter Your FERS DetailsFree · Instant
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How the FERS Retirement Calculator Works
FERS uses a straightforward three-factor formula. The 1% multiplier increases to 1.1% if you retire at 62 or later with at least 20 years of service. That 10% bonus on a $90,000 High-3 with 30 years adds $2,700 per year for life.
FERS Pension Formula
Standard: High-3 × Years × 1.0% Age 62+ with 20+ yrs: High-3 × Years × 1.1% After survivor election: Annual Pension × (1 − reduction %) SRS (until 62): (FERS Years ÷ 40) × estimated SS at 62
Key FERS Facts
High-3 is the average of your three consecutive highest-earning years of basic pay
Unused sick leave at retirement converts to service credit (2,087 hours = 1 year)
FERS COLAs start at age 62 and are tied to CPI-W with a cap
Part-time service counts proportionally toward years of service
Who Is This Calculator For?
Federal employees
Anyone covered by FERS who wants to know what their pension will pay at retirement.
Mid-career planners
Employees 10-15 years from retirement modeling income in detail before deciding when to leave.
Couples planning together
Spouses weighing the survivor benefit cost and protection trade-off before the election deadline.
Early retirement candidates
Employees considering retirement before 62 who want to see the SRS amount and its end date.
How to Use the Calculator
1
Find your High-3
Average your three consecutive highest annual basic pay salaries from your SF-50 history. Usually your final three years.
2
Enter years of creditable service
Total years of federal service counting toward your FERS benefit. Check your SF-50 or Personal Benefits Statement for this figure.
3
Set ages and retirement date
Enter your current age and planned retirement age. The multiplier adjusts automatically to 1.1% if you meet the age-62/20-year threshold.
4
Choose survivor benefit election
Full election reduces your pension by 10% and gives your spouse 50% of your annuity. Partial election reduces by 5% for 25% survivor coverage.
5
Enter TSP balance and return
Your TSP is separate from the pension. Enter the current balance and an expected return rate to see its projected value at retirement.
Example Calculation
James is a GS-13 employee with a $112,000 High-3, 28 years of service, retiring at age 58 with a full survivor benefit.
Basic annuity ($112,000 × 28 × 1.0%)$31,360/yr
Full survivor reduction (10%)-$3,136/yr
Pension after election$28,224/yr ($2,352/mo)
SRS estimate (until age 62)~$980/mo
Total monthly income before 62~$3,332/mo
TSP ($350k at 6% for 11 yrs)~$664,000
James draws $3,332/month from pension and SRS until 62, then transitions to Social Security and TSP distributions. His survivor election costs $262/month and protects his spouse for life.
Common Mistakes to Avoid
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Using current salary instead of High-3
Your pension is based on the average of your three highest consecutive years, not your current pay. A demotion or pay freeze in recent years can make a meaningful difference.
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Forgetting that part-time service counts less
Years worked part-time are credited proportionally. One year at 50% time gives 0.5 years of service credit and reduces the final annuity.
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Waiving survivor benefit without discussion
Waiving the survivor benefit requires your spouse's notarized consent. Many spouses learn about this trade-off only during benefits review, sometimes too late to reconsider.
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Counting sick leave late
Unused sick leave at retirement is added to your service years. Each 2,087 hours equals one year. Check your leave balance before picking a retirement date.
Frequently Asked Questions
The formula is: High-3 average salary × years of service × 1% (or 1.1% if you retire at 62 or older with 20+ years). A $90,000 High-3 with 28 years gives $90,000 × 28 × 0.01 = $25,200 per year, or $2,100 per month.
OPM CSRS / FERS Handbook, Chapter 50: Computation of Annuity
Source for the 1% and 1.1% multiplier rules, High-3 definition, part-time credit, and sick leave conversion to service credit.
2
OPM: Special Retirement Supplement (RI 90-8)
Source for SRS eligibility, the (FERS years / 40) formula, the 62-year cutoff, and the earnings test rules.
3
5 U.S.C. Chapter 84: Federal Employees Retirement System
The governing statute for FERS benefits including survivor annuity elections and COLA provisions.
K
Kevin Marsh, CFP
Certified Financial Planner, specializes in federal employee benefits and TSP strategy
Kevin advises federal workers on TSP allocation, FERS pension optimization, and retirement timing. He reviewed the OPM formula logic and SRS calculation on this page.
Reviewed: April 2025OPM rules: 2025
FERS Formula
Standard multiplier
1.0%
62+ with 20+ yrs
1.1%
Full survivor reduction
10%
Partial survivor reduction
5%
Sick leave (1 yr = 2087 hrs)
Yes
COLAs begin at
Age 62
Minimum Retirement Age (MRA)
Birth Year
MRA
Before 1948
55
1948-1952
55-56
1953-1964
56
1965-1969
56-57
1970+
57
Pro Tip
Retiring on Dec 31 vs Jan 1 can cost you an entire year of service credit. OPM processes retirements on the last day of a month, so Dec 31 = full-year credit and your first check arrives Feb 1.