FERS Pension Calculator

FERS (Federal Employees Retirement System) is the retirement system for most federal employees hired after 1983. It provides three sources of retirement income:

1. Basic Benefit Plan: A defined benefit pension based on your salary and years of service
2. Social Security: Standard Social Security benefits
3. Thrift Savings Plan (TSP): A defined contribution plan similar to a 401(k) with agency matching

The FERS basic annuity formula is: High-3 Average Salary × Years of Creditable Service × Coefficient

The coefficient is typically 1% for most retirees, or 1.1% if you retire at age 62 or older with at least 20 years of service.

For example, with a $80,000 high-3 and 30 years of service retiring at age 62: $80,000 × 30 × 1.1% = $26,400 per year or $2,200 per month.

Your High-3 average salary is the highest average basic pay you earned during any 3 consecutive years of federal service (or 36 consecutive months). It includes:

• Base salary
• Locality pay

It excludes bonuses, overtime, allowances, and other special payments. Most employees' High-3 occurs during their final 3 years before retirement when their salary is highest.

FERS retirement eligibility depends on your age and years of service. The most common combinations are:

• Age 62 with at least 5 years of service - See our guide on retiring at 60 vs 62
• Age 60 with at least 20 years of service
• Minimum Retirement Age (MRA) with at least 30 years of service - Find your MRA in our MRA guide
• MRA with at least 10 years of service (benefit reduced by 5% per year under age 62) - Learn about MRA+10 options

Your MRA ranges from 55 to 57 depending on your birth year. For detailed planning, read our guides on retiring at 50, retiring at 55 (MRA), or use our Early Retirement Calculator.

Unused sick leave is converted to additional service credit when you retire. This increases your total years of service, which directly increases your annuity using the formula: High-3 × (Years + Sick Leave Credit) × Coefficient.

The conversion rate is approximately 174 hours = 1 month of service credit. For example, 2,088 hours of unused sick leave would add about 1 year to your service record.

This can result in hundreds or even thousands of dollars in additional annual pension benefits. Use our Sick Leave Calculator to see exactly how much your unused sick leave is worth.

Buying back military service time can significantly increase your FERS pension. The cost is typically 3% of your military basic pay plus interest.

The benefit is that each year of military service adds to your total federal service years, increasing your annuity. For most employees, the break-even point is 3-5 years after retirement.

If you're a veteran, read our complete guide on veteran FERS benefits and use our Military Buyback Calculator for a detailed ROI analysis.

Cost-of-Living Adjustments (COLAs) help protect your pension from inflation. However, FERS COLAs work differently than CSRS:

• If inflation is 2% or less: You receive the full COLA
• If inflation is between 2% and 3%: You receive 2% plus half the excess
• If inflation is over 3%: You receive 1% less than the full COLA

You don't receive COLAs until age 62 (unless you're disabled or a survivor). Project future COLAs with our COLA Estimator or read our guides on how FERS COLA works and historical COLA rates.

Your spouse may be eligible for survivor benefits. When you retire, you must elect either:

• Full Survivor Annuity: Your spouse receives 50% of your annuity after your death (reduces your annuity by ~10%)
• Partial Survivor Annuity: Your spouse receives 25% of your annuity (reduces your annuity by ~5%)
• No Survivor Annuity: Requires spousal consent

Estimate survivor benefits with our Survivor Benefit Calculator. For more information, see our guide on retirement planning checklist.