FERS Annuity Calculator

Enter your current high-3 estimate, service years already earned, current age, and planned retirement age. If you are still working, the calculator projects additional service from your current age to retirement. It can also project a future high-3 using current salary and salary growth. Check that this projection matches your intended interpretation: the result may differ from your actual creditable service or salary history.

The birth year is used to estimate your minimum retirement age (MRA). The calculator also asks for a survivor-benefit percentage, life expectancy, and cost-of-living adjustment (COLA) assumption. Those last inputs affect the modeled net payment and cumulative projection, not necessarily the amount OPM will ultimately pay.

The default example uses a current age of 50, retirement age of 62, 25 service years already entered, a $115,000 high-3, and a $105,000 current salary. With 12 years until retirement, the model counts 37 total service years.

The standard FERS basic-annuity formula generally uses 1% of high-3 for each year of service. A 1.1% multiplier generally applies if you retire at age 62 or later with at least 20 years of service. This calculator applies the 1.1% multiplier when both conditions are met; otherwise it uses 1.0%.

The precomputed default result uses a 1.1% multiplier and reports a projected high-3 of $130,571, total service of 37 years, an annual annuity of $53,142, and a monthly annuity of $4,429. The exact displayed annual result can differ by $1 from recomputing with the rounded high-3 and service figures shown: $130,571 × 1.1% × 37 is approximately $53,143. The result card’s $53,142 is the supplied screen result; small differences can arise from intermediate rounding or implementation details. Use the live result and official estimate for a binding planning figure.

This basic annuity is distinct from the FERS annuity supplement, which may provide a temporary bridge for some retirees before age 62. It is also separate from your TSP savings and Social Security benefit. Estimate those components independently, including with the Social Security calculator.

FERS eligibility depends on age and service, and different retirement paths have different rules. The calculator recognizes several general combinations, including age 62 with at least 5 years, age 60 with at least 20 years, and MRA with at least 30 years. Eligibility can also depend on whether your separation is immediate, deferred, or otherwise subject to special provisions. Review OPM’s FERS retirement information and confirm your individual case.

Under the calculator’s logic, an annuity may be reduced when retirement occurs at or after MRA but before age 62 with at least 10 and fewer than 30 years of service, unless the age-60-and-20-years condition applies. The model reduces the annuity by 5/6 of 1% for each month below age 62. That is equivalent to 5% per year. The reduction can be substantial, so compare the reduced immediate benefit with alternatives such as working longer or taking a deferred benefit.

The calculator’s MRA depends on birth year. MRA ranges from age 55 to 57 depending on birth year, and the calculator derives an estimate from the entered year. Check the official MRA table rather than relying only on a calculator field. Special provisions for some occupations may use different rules.

A survivor benefit can provide continuing income to an eligible spouse after the retiree’s death, but it reduces the retiree’s annuity. In this calculator, selecting a 25% survivor option reduces the modeled annuity by 5%; selecting a 50% option reduces it by 10%. The default is 0%, so the default result does not include a survivor reduction.

These are the calculator’s assumptions, not a substitute for reviewing OPM’s survivor election rules, eligibility requirements, or the consequences of a specific election. Consider the surviving spouse’s own pension, Social Security, savings, insurance, and household expenses before comparing options.

The COLA input affects projected payments after retirement. FERS COLA rules are not a simple promise that every annuity receives the same inflation adjustment: eligibility and statutory formulas vary, including differences for retirees under age 62 and the “diet COLA” rule when inflation is above 2%. The calculator applies the entered COLA rate as a simplified projection. For context on inflation and purchasing power, see the Social Security Administration’s COLA explanation.

First, the calculator estimates total service by adding service already entered to the years between current age and retirement age. If retirement is later than the current age and salary growth is positive, it projects salary for the final three modeled years and averages those amounts to estimate a high-3.

Total service at retirement =
service already earned + (retirement age - current age)

The multiplier is 1.1% if retirement age is at least 62 and total service is at least 20 years; otherwise it is 1.0%.

Annual basic annuity =
projected high-3 salary × multiplier × total service years

For the default example, the calculator reports $53,142 per year and $4,429 per month. The monthly amount is the annual result divided by 12 and rounded: $53,142 ÷ 12 = $4,428.50, which rounds to $4,429.

Monthly annuity =
annual annuity ÷ 12

If a survivor option is selected, the model applies the specified reduction after calculating the basic annuity. The lifetime estimate then sums projected annual payments through the chosen life expectancy, applying the COLA assumption in the calculation. It is a nominal total, not a guaranteed present value or inflation-adjusted amount.

The default result includes a 41% replacement rate and a projected lifetime annuity of $2,061,500 through age 90. The replacement rate compares the annuity after any modeled survivor reduction with the projected high-3; it is not a percentage of take-home pay and excludes other retirement income.

Run the calculator again after changing only one input. That shows whether the result is driven mostly by service, high-3, retirement age, survivor election, or the COLA assumption. A separate FERS Pension Calculator can be useful as a cross-check, while the FERS annuity supplement calculator models a different benefit.

Confirm service credit, high-3 salary, retirement eligibility, and survivor options with your agency or OPM. Then estimate the separate FERS pieces: use the FERS High-3 Calculator to inspect salary projections and the FERS annuity supplement calculator to test the temporary bridge benefit. Include your TSP and Social Security in the overall plan.

For a wider view, estimate how long your savings may need to cover expenses using the how long will my money last calculator, and compare pension income with retirement withdrawals using the retirement withdrawal calculator. Treat the calculator as a planning estimate; verified benefit records determine the final annuity.