Home
Back
FERS Retirement Formula:
| From: | To: |
The VA Federal Employee Retirement Calculator estimates retirement benefits for VA employees under the Federal Employees Retirement System (FERS). It calculates the basic annuity based on years of service and high-3 average salary.
The calculator uses the FERS basic annuity formula:
Where:
Explanation: The formula calculates 1% of the high-3 average salary for each year of service. For employees with 20+ years of service at age 62 or older, the multiplier increases to 1.1%.
Details: Accurate retirement calculation helps VA employees plan for retirement, understand their expected benefits, and make informed decisions about retirement timing and financial planning.
Tips: Enter years of service (including partial years as decimals) and high-3 average salary in USD. Both values must be positive numbers.
Q1: What is the high-3 average salary?
A: The average of your highest 3 consecutive years of basic pay (not including bonuses, overtime, or allowances).
Q2: Are there different multipliers for different situations?
A: Yes, employees with 20+ years of service who retire at age 62 or older receive 1.1% instead of 1% per year of service.
Q3: What other benefits are included in FERS?
A: FERS includes Social Security benefits, Thrift Savings Plan (TSP), and basic annuity. This calculator only estimates the basic annuity portion.
Q4: How is part-time service calculated?
A: Part-time service is prorated based on the number of hours worked compared to full-time employment.
Q5: When can VA employees retire under FERS?
A: Minimum retirement age (MRA) with 30 years of service, age 60 with 20 years, or age 62 with 5 years of service, with varying requirements for immediate vs. deferred retirement.