1. What is the VA Physician Pension Calculator?

The VA Physician Pension Calculator estimates the annual retirement annuity for VA physicians under the Federal Employees Retirement System (FERS). It calculates pension benefits based on years of service and high-3 average salary.

2. How Does the Calculator Work?

The calculator uses the FERS pension formula for VA physicians:

Where:

• \( YS \) — Years of service
• \( H3 \) — High-3 average salary (average of highest 3 consecutive years of basic pay)
• \( 0.01 \) — 1% multiplier for each year of service

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

3. Importance of Pension Calculation

Details: Accurate pension calculation helps VA physicians plan for retirement, understand their expected benefits, and make informed decisions about retirement timing and financial planning.

4. Using the Calculator

Tips: Enter years of service (including partial years as decimals) and 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 average of your highest 3 consecutive years of basic pay (excluding bonuses, overtime, or other special payments).

Q2: Are there different multipliers for more years of service?
A: For FERS employees with 20+ years of service, the multiplier increases to 1.1% for years over 20.

Q3: When can VA physicians retire under FERS?
A: Minimum retirement age varies (55-57 depending on birth year) with 30 years service, or 60 with 20 years, or 62 with 5 years.

Q4: Are cost-of-living adjustments included?
A: FERS pensions receive limited COLAs, but this calculator provides the base annuity amount without adjustments.

Q5: How does part-time service affect the calculation?
A: Part-time service is prorated in the pension calculation based on the proportion of full-time equivalent service.