Q. I am a FERS employee and have 30 years of federal service. I’m 58 years old. How much should I expect for my retirement? My high-3 is $42,000.
A: Here’s the formula for calculating a regular FERS annuity: .01 x your high-3 x all years and full months of service. Plugging your numbers into that formula would produce an annuity of $12,600.
2 Comments
The annuity you replied is $12,600, does that mean it’s the gross income for a retirement?
thanks, Evita
Yes.