1. What is FERS VA Retirement Pay?

The FERS (Federal Employees Retirement System) VA retirement pay is a basic annuity calculated based on years of service and the high-3 average salary. It provides retirement benefits for eligible federal employees.

2. How Does the Calculator Work?

The calculator uses the FERS retirement formula:

Where:

• \( Annuity \) — Annual retirement pay (USD)
• \( YS \) — Years of service (years)
• \( H3 \) — High-3 average salary (USD)

Explanation: The formula calculates 1% of the high-3 average salary multiplied by years of service to determine the annual retirement annuity.

3. Importance of Retirement Planning

Details: Accurate retirement planning helps federal employees prepare for financial security after their government service. Understanding the annuity calculation is essential for making informed decisions about retirement timing and financial planning.

4. Using the Calculator

Tips: Enter years of service (including partial years as decimals) and the high-3 average salary in USD. Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the high-3 average salary?
A: The high-3 average salary is the average of your highest 3 consecutive years of basic pay, typically your last 3 years of federal service.

Q2: Are there different percentages for more years of service?
A: Yes, for employees with 20+ years of service, the percentage increases to 1.1% for each year over 20.

Q3: What age requirements apply to FERS retirement?
A: Minimum retirement age varies from 55 to 57 depending on birth year, with different requirements for early retirement and deferred retirement.

Q4: Does this include other FERS benefits?
A: No, this calculator only estimates the basic annuity. FERS also includes Social Security benefits and the Thrift Savings Plan (TSP).

Q5: How is partial year service calculated?
A: Partial years are converted to decimals (e.g., 6 months = 0.5 years) and included in the total years of service calculation.