FERS Annuity Calculator 2026

Q: Does unused sick leave count toward FERS retirement?

Yes. 174 hours of unused sick leave = 1 month of additional service credit. 2,000 hours adds ~11.5 months. At a $95,000 High-3, that's roughly $91/month more for life.

Q: What is the FERS 62-and-20 rule?

If you retire at 62 or older with 20+ years of service, your FERS multiplier increases from 1.0% to 1.1% — a 10% boost to your annuity for all service years.

Calculate Your FERS Pension

Based on the official OPM FERS annuity formula. Results are estimates — consult a ChFEBC® advisor for precise figures.

Estimated Monthly FERS Annuity

$0/mo

$0 per year

1.0%

Multiplier Used

Sick Leave Months Added

Enhanced (1.1%) Eligible

Income Comparison: FERS vs. TSP vs. SPIA

TSP Balance (for annuity comparison)

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High-3 × Years × Multiplier = Annual FERS Annuity

1.0% standard — 1.1% if retiring at 62+ with 20+ years of service. Divide by 12 for monthly.

How the FERS Formula Works (5 Steps)

Find Your High-3

Average your highest 36 consecutive months of basic pay, including locality adjustments.

Count Service Years

Total FERS-covered years. 174 hours of sick leave = 1 additional month of credit.

Check Multiplier

Use 1.1% if you retire at 62+ with 20+ years. Otherwise, 1.0%.

Apply Formula

High-3 × Years × Multiplier = Annual FERS Annuity. ÷12 for monthly.

Compare Options

Add TSP annuity or commercial SPIA for supplemental income. SPIA often pays 30–40% more.

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Frequently Asked Questions

What is the FERS annuity formula for 2026?

FERS Annuity = High-3 Salary × Years of Service × 1.0% (or 1.1% if age 62+ with 20+ years). Example: $95,000 × 30 × 1.0% = $28,500/year ($2,375/month). The formula is set by OPM and has not changed — only the High-3 and service year inputs vary by employee.

How much will my FERS pension be?

It depends on your High-3 salary and years of service. A $90,000 High-3 with 30 years = $27,000/year ($2,250/month) at 1.0%, or $29,700/year ($2,475/month) at 1.1% for age 62+ with 20+ years. The retiree's exact amount is determined at retirement by OPM using your final earnings and service computation date.

Is TSP annuity better than a commercial SPIA?

Commercial SPIAs pay 30–40% more per month than the TSP MetLife annuity. On $400,000, that's $400–$600/month more for life. However, the TSP MetLife annuity preserves FEHB eligibility and credits the G fund rate. The right choice depends on your health outlook, income gap, and FEHB needs. Most federal employees benefit from running both side-by-side.

Does unused sick leave count toward FERS retirement?

Yes. 174 hours of unused sick leave converts to 1 month of additional service credit at retirement. 2,000 hours of sick leave adds approximately 11.5 months of service credit. At a $95,000 High-3, that 11.5 months adds roughly $91/month to your annuity — $1,092/year for life, with annual COLA adjustments.

What is the FERS 62-and-20 rule?

If you retire at 62 or older with 20 or more years of creditable service, your FERS multiplier increases from 1.0% to 1.1% for ALL years of service (not just the 20+). This is a 10% boost across your entire annuity. For example, $95,000 × 30 years at 1.1% = $31,350/year ($2,613/month) vs. $28,500/year ($2,375/month) at 1.0% — $238 more per month for life.

Disclaimer: This calculator provides estimates for educational purposes only. Actual FERS annuity is calculated by OPM at retirement and may differ due to specific service credit rules, CSRS offset, or other factors. Always verify with OPM and consult a qualified federal benefits advisor (ChFEBC® or CFP®) before making retirement decisions. Full disclaimer →