Retirement & Separation – EconSys

: FERS retirees who have profits from earnings or self-employment might have their Special Retirement Supplement decreased or stopped by the Social Security profits test (see Social Security).

Your basic annuity is calculated based upon your length of service and "high-3" typical wage. To determine your length of service for calculation, include all your durations of reputable service, then eliminate any fractional part of a month from the total. Read This -3 Typical Wage Your "high-3" average pay is the greatest typical basic pay you made during any 3 consecutive years of service.

Your standard pay is the fundamental salary you earn for your position. It includes increases to your salary for which retirement deductions are withheld, such as shift rates. It does not consist of payments for overtime, rewards, and so on (If your overall service was less than 3 years, your average income was figured by averaging your fundamental pay throughout all of your durations of reputable Federal service).

1 percent of your high-3 average income for each year of service Your advantage was calculated differently, if you retired under among the provisions listed below Special Arrangement for Air Traffic Controllers, Firefighters, Law Enforcement Officers, Capitol Police, Supreme Court Authorities, or Nuclear Products Couriers 1. 7% of your high-3 typical wage multiplied by your years of service which do not exceed 20, 1% of your high-3 average salary increased by your service exceeding twenty years Member of Congress or Congressional Worker (or any combination of the two) must have at least 5 years of service as a Member of Congress and/or Congressional Staff Member 1.

1 percent of your high-3 typical wage for each year of service Computation of CSRS Part Period, Solution First 5 years of CSRS service 1. 5% of your high-3 average income for each year of service 2nd 5 years of CSRS service 1. 75% of your high-3 typical wage for each year of service All years of CSRS service over 10 2% of your high-3 average salary for each year of service If retired under the unique arrangement for firemens, police officers, or nuclear material couriers 2.