{
  "id": "fers-retirement",
  "version": "74ac4278baa7",
  "status": "published",
  "name": "FERS Retirement Calculator",
  "question": "What will my FERS retirement pay?",
  "summary": "Estimates the FERS basic annuity for a federal employee from the high-3 salary, years of service, unused sick leave, age at retirement and survivor election, with the MRA+10 reduction.",
  "category": "finance",
  "subcategory": "retirement",
  "url": "https://www.acalculator.org/finance/fers-retirement-calculator",
  "markdown": "https://www.acalculator.org/finance/fers-retirement-calculator.md",
  "kind": "function",
  "method": "yearly annuity = high-3 × multiplier × (service months counted ÷ 12) × (1 − age reduction) × (1 − survivor reduction); multiplier 1.1% at 62 or older with 20 years counted, else 1%; age reduction 5/12% per month under 62 for MRA+10 only; survivor reduction 10% full, 5% partial.",
  "assumptions": [
    "Regular FERS employees only: special provisions (law enforcement, firefighters, air traffic controllers), disability and deferred retirement are not included.",
    "Unused sick leave converts at 2,087 hours a year (hours × 12 ÷ 2,087 months) and is added to service before the fractional month is dropped. OPM’s chart works in days, so it can differ by a month.",
    "The FERS supplement, cost-of-living adjustments, taxes and health insurance premiums are not included.",
    "Arithmetic is exact on the typed decimals; money shows to the cent, halves up."
  ],
  "inputs": {
    "$schema": "https://json-schema.org/draft/2020-12/schema",
    "type": "object",
    "properties": {
      "high3": {
        "title": "High-3 average salary",
        "description": "Your highest average basic pay over any 3 years in a row, per year.",
        "type": "number",
        "x-unit": "USD",
        "exclusiveMinimum": 0,
        "maximum": 10000000
      },
      "years": {
        "title": "Years of service",
        "description": "Whole years of creditable federal service when you retire.",
        "type": "integer",
        "minimum": 0,
        "maximum": 60
      },
      "months": {
        "title": "Plus months",
        "description": "Extra whole months of service beyond the years.",
        "type": "integer",
        "minimum": 0,
        "maximum": 11
      },
      "sick": {
        "title": "Unused sick leave (hours)",
        "description": "Your unused sick leave hours at retirement. They add to service for the amount, not for eligibility.",
        "type": "number",
        "minimum": 0,
        "maximum": 20000
      },
      "age": {
        "title": "Age at retirement",
        "description": "Your age in whole years on the day you retire.",
        "type": "integer",
        "minimum": 40,
        "maximum": 90
      },
      "agemonths": {
        "title": "Plus months of age",
        "description": "Whole months of age beyond the years on the day you retire.",
        "type": "integer",
        "minimum": 0,
        "maximum": 11
      },
      "born": {
        "title": "Year you were born",
        "description": "Your year of birth. It sets your minimum retirement age (MRA), from 55 to 57.",
        "type": "string",
        "enum": [
          "2010",
          "2009",
          "2008",
          "2007",
          "2006",
          "2005",
          "2004",
          "2003",
          "2002",
          "2001",
          "2000",
          "1999",
          "1998",
          "1997",
          "1996",
          "1995",
          "1994",
          "1993",
          "1992",
          "1991",
          "1990",
          "1989",
          "1988",
          "1987",
          "1986",
          "1985",
          "1984",
          "1983",
          "1982",
          "1981",
          "1980",
          "1979",
          "1978",
          "1977",
          "1976",
          "1975",
          "1974",
          "1973",
          "1972",
          "1971",
          "1970",
          "1969",
          "1968",
          "1967",
          "1966",
          "1965",
          "1964",
          "1963",
          "1962",
          "1961",
          "1960",
          "1959",
          "1958",
          "1957",
          "1956",
          "1955",
          "1954",
          "1953",
          "1952",
          "1951",
          "1950",
          "1949",
          "1948",
          "1947",
          "1946",
          "1945",
          "1944",
          "1943",
          "1942",
          "1941",
          "1940",
          "1939",
          "1938",
          "1937",
          "1936",
          "1935",
          "1934",
          "1933",
          "1932",
          "1931",
          "1930"
        ]
      },
      "survivor": {
        "title": "Survivor benefit",
        "description": "The survivor annuity you elect for a spouse: none, partial (25% of your annuity, costs 5%) or full (50%, costs 10%).",
        "type": "string",
        "enum": [
          "none",
          "partial",
          "full"
        ]
      }
    }
  },
  "outputs": {
    "monthly": {
      "label": "Your FERS annuity per month",
      "description": "The yearly annuity ÷ 12, before tax and cost-of-living increases.",
      "format": "money"
    },
    "yearly": {
      "label": "Per year",
      "description": "The basic annuity after the age and survivor reductions.",
      "format": "money"
    },
    "basic": {
      "label": "Basic annuity before reductions",
      "description": "High-3 × multiplier × service counted (in years and months).",
      "format": "money"
    },
    "multiplier": {
      "label": "Multiplier",
      "description": "1.1% if you retire at 62 or older with 20 or more years counted, else 1%.",
      "format": "percent"
    },
    "service": {
      "label": "Service counted",
      "description": "Your service plus unused sick leave, in years and whole months.",
      "format": "text"
    },
    "ageReduction": {
      "label": "Age reduction",
      "description": "5/12% for each full month under 62, for an MRA+10 retirement only.",
      "format": "percent"
    },
    "survivorCost": {
      "label": "Survivor reduction",
      "description": "The cut for the survivor benefit: 5% partial, 10% full, 0% none.",
      "format": "percent"
    },
    "mra": {
      "label": "Your MRA",
      "description": "Your minimum retirement age from your year of birth.",
      "format": "text"
    },
    "kind": {
      "label": "Retirement type",
      "description": "Which immediate retirement rule you meet.",
      "format": "text"
    }
  },
  "defaultAnswer": {
    "inputs": {
      "high3": 100000,
      "years": 30,
      "months": 0,
      "sick": 0,
      "age": 62,
      "agemonths": 0,
      "born": "1966",
      "survivor": "none"
    },
    "outputs": {
      "monthly": 2750,
      "yearly": 33000,
      "basic": 33000,
      "multiplier": 1.1,
      "service": "30 years",
      "ageReduction": 0,
      "survivorCost": 0,
      "mra": "56 years, 4 months",
      "kind": "Immediate, no age reduction"
    },
    "text": "Retiring at 62 with 30 years of service on a $100,000.00 high-3 pays about $2,750.00 a month ($33,000.00 a year)."
  },
  "examples": [
    {
      "given": {
        "high3": 100000,
        "years": 30,
        "age": 62,
        "born": "1966",
        "survivor": "none"
      },
      "expect": {
        "multiplier": 1.1,
        "basic": 33000,
        "yearly": 33000,
        "monthly": 2750
      },
      "source": "OPM, FERS computation (https://www.opm.gov/retirement-center/fers-information/computation/): 1.1% × 100,000 × 30 = 33,000"
    },
    {
      "given": {
        "high3": 80000,
        "years": 25,
        "months": 6,
        "age": 57,
        "born": "1970",
        "survivor": "none"
      },
      "expect": {
        "multiplier": 1,
        "basic": 20400,
        "ageReduction": 25,
        "yearly": 15300
      },
      "source": "OPM, FERS computation (https://www.opm.gov/retirement-center/fers-information/computation/) and OPM, FERS eligibility and MRA table (https://www.opm.gov/retirement-center/fers-information/eligibility/): MRA 57 for 1970; 1% × 80,000 × 25.5 = 20,400; 60 months under 62 × 5/12% = 25%; 20,400 × 0.75 = 15,300"
    },
    {
      "given": {
        "high3": 90000,
        "years": 19,
        "sick": 2087,
        "age": 63,
        "born": "1962",
        "survivor": "full"
      },
      "expect": {
        "multiplier": 1.1,
        "basic": 19800,
        "yearly": 17820,
        "monthly": 1485
      },
      "source": "OPM, FERS computation (https://www.opm.gov/retirement-center/fers-information/computation/); OPM BAL 18-103, unused sick leave counts toward 20 years for the 1.1% multiplier (https://www.opm.gov/retirement-center/publications-forms/benefits-administration-letters/2018/18-103.pdf): 2,087 hours = 1 year, so 19 + 1 = 20 years; 1.1% × 90,000 × 20 = 19,800; less 10% = 17,820"
    },
    {
      "given": {
        "high3": 70000,
        "years": 32,
        "age": 57,
        "born": "1968",
        "survivor": "partial"
      },
      "expect": {
        "basic": 22400,
        "ageReduction": 0,
        "yearly": 21280
      },
      "source": "OPM, FERS eligibility and MRA table (https://www.opm.gov/retirement-center/fers-information/eligibility/): MRA 56 and 8 months for 1968, so 32 years at 57 is MRA+30 with no age reduction; 1% × 70,000 × 32 = 22,400; less 5% = 21,280"
    }
  ],
  "sources": [
    "U.S. Office of Personnel Management, FERS computation (1% and 1.1% formulas, MRA+10 reduction, survivor reductions). https://www.opm.gov/retirement-center/fers-information/computation/",
    "U.S. Office of Personnel Management, FERS eligibility (immediate retirement rules and the minimum retirement age table). https://www.opm.gov/retirement-center/fers-information/eligibility/",
    "U.S. Office of Personnel Management, Benefits Administration Letter 18-103, FERS unused sick leave and the 1.1% annuity formula. https://www.opm.gov/retirement-center/publications-forms/benefits-administration-letters/2018/18-103.pdf",
    "U.S. Office of Personnel Management, CSRS/FERS Handbook, chapter 50, Computation of annuity (2,087-hour sick leave chart). https://www.opm.gov/retirement-center/publications-forms/csrsfers-handbook/c050.pdf",
    "5 U.S.C. 8415, Computation of basic annuity. https://www.law.cornell.edu/uscode/text/5/8415"
  ],
  "related": [
    "retirement",
    "retirement-income",
    "401k"
  ],
  "changelog": []
}