How to Calculate the FERS Basic Annuity

5% service, do not exceed 10 years, 2% of your high-3 typical salary multiplied by your years of other service in excess of ten years Reductions in Non-Disability Annuity Age If you retire under the MRA +10 arrangement If you have 10 or more years of service and retire at the Minimum Retirement Age (MRA), your advantage will be minimized by 5/12 of 1% for each full month (5% per year) that you were under age 62 on the date your annuity started.

If you postpone the start date of your annuity, the age decrease will be decreased or gotten rid of. The age decrease applies to both the Civil Service Retirement System and the Federal Employees Retirement System components of your annuity, if you transferred to FERS and part of your annuity is calculated under the CSRS arrangement.

The decrease is 1/6 of 1% (2% per year) for every month that you are under age 55 at the time of retirement. Survivor Benefits If you are married, your benefit will be decreased for a survivor benefit, unless your partner granted your election of less than a complete survivor annuity.

If the overall equals 25%, the reduction is 5%. A Good Read or Refunded Service If you have a CSRS element in your annuity: The CSRS portion of your benefit will be reduced by 10% of any deposit owed for CSRS non-deduction service performed before October 1, 1982, unless the deposit was paid prior to retirement.

Alternative Annuity Your benefit may be lowered if you chose a lump amount payment equal to your retirement contributions and a lowered month-to-month annuity, frequently called an alternative annuity. Only non-disability annuitants who have a lethal affliction or other vital medical condition can elect this choice. Special Needs Retirement Computation FERS disability advantages are computed in various ways depending upon the annuitant's age and amount of service at retirement.