Retirement calculation for 30+ years of service

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Q. I am a FERS employee. I have 18 years of civil service and five years of Air Force service that I bought back for a total of 23 creditable years. I will reach my 30-year service mark long before my minimum retirement age of 57½. How is retirement calculated if I decide to go past the 30 years putting me at 38½ years of civil service and the MRA of 57½? I have heard that for each year over 30 you get additional percentage points.

A. You heard wrong. The formula is .01 x your-high-3 x your years of service unless you retire at age 62 or later with at least 20 years of service. Then the multiplier is increased to .011.

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  1. There is no limit on the years of service. You receive 1% of your high-3 for each year of service, including any over 30.

    If you retire at 62 with 20 or more years of service you receive 1.1% of your high-3 for each year of service, including any over 30.

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