Q. How much will my retirement be when I turn 62?
I rotated back to the states after more than 22 years of federal service. I was effectively terminated from my position due to the five-year rule in Europe. I was under CSRS.
I will not turn 62 for five years, but I would like to know how to get information regarding my CSRS account status.
A. Because you had at least 20 years of full-time CSRS service, you can apply for a deferred annuity at age 60. Assuming you didn’t get a refund of your retirement contributions, your annuity will be computed using this formula: .015 x your highest three consecutive years of average basic pay (your high-3) x 5 years of service, plus .0175 x your high-3 x 5 years of service, plus .02 x your high-3 x all remaining years and full months of service.
If you did get a refund of your retirement contributions, you won’t be entitled to anything.