When am I eligible for FERS retirement?

You are eligible for FERS retirement at your Minimum Retirement Age (MRA) with 30 years of service, at age 60 with 20 years, or at age 62 with just 5 years. MRA is 57 for most federal employees. You can also retire at age 62 with 20+ years and qualify for the enhanced 1.1% multiplier. Deferred retirement (separating before eligibility and claiming later) is available at age 62 with 5 years of service. There is no mandatory retirement age for most federal positions.

What is the FERS annuity formula at a glance?

FERS Annuity = High-3 Average Salary × Years & Months of Creditable Service × Multiplier. Multiplier is 1.0% for standard retirement, 1.1% if you retire at age 62+ with 20+ years, 1.7% for Law Enforcement Officers, Firefighters, and air traffic controllers (LEO/FF/ATC). Divide the annual result by 12 for the monthly payment. Worked example: $95,000 High-3 × 30 years × 1.0% = $28,500/year ($2,375/month). Same employee at 1.1% = $31,350/year ($2,613/month). 1.7% LEO/FF = $48,450/year ($4,038/month). Source: 5 U.S.C. § 8415, OPM Retirement Handbook.

Who is eligible for the FERS Special Retirement Supplement (SRS)?

FERS SRS eligibility: (1) MRA+30 — retire at Minimum Retirement Age (57 for most) with 30 years; (2) Age 60 with 20+ years; (3) VERA — Voluntary Early Retirement Authority during agency downsizing; (4) Law Enforcement Officer (LEO), Firefighter (FF), or Air Traffic Controller (ATC) retirement at age 50 with 20+ years; (5) DSR — Deferred Special Retirement for discontinued service. 2026 earnings limit while receiving SRS is $24,480/year (yearly indexed). Excess earnings reduce SRS $1 for every $2 over the limit, with the first year of reduction waived. SRS ends at age 62 when actual Social Security begins. Roughly 30,000 federal retirees receive SRS annually.

FERS Annuity Calculator 2026 — Free, OPM-Formula, 60-Second Estimate

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.

Q: How is FERS annuity calculated?

FERS is calculated using the official OPM formula: High-3 average salary × years of creditable service × the multiplier (1.0% standard, or 1.1% if you retire at age 62 or older with 20+ years). Divide the annual result by 12 for your monthly payment. Worked example: $95,000 High-3 × 30 years × 1.0% = $28,500 per year, or $2,375 per month for life, with annual COLA adjustments.

Q: What is the FERS supplement?

The Special Retirement Supplement (SRS) is a bridge payment for FERS retirees aged 57 to 62 who retire with an immediate, unreduced pension. It approximates the Social Security benefit you would have earned at age 62, minus a FERS pension offset. The SRS ends when you turn 62 and become eligible for actual Social Security. It is not a cost-of-living adjusted benefit and is taxed like wages, not Social Security. Roughly 30,000 federal retirees receive the SRS each year.

FERS Annuity Quick Answers

How is FERS annuity calculated?

FERS annuity = High-3 average salary × years of creditable service × multiplier (1.0% standard, or 1.1% if you retire at age 62+ with 20+ years). Divide the annual result by 12 for your monthly payment.

What is the FERS supplement?

The FERS Special Retirement Supplement (SRS) approximates your Social Security benefit from age 57 (MRA) to age 62. Only FERS retirees with an immediate, unreduced pension qualify (MRA+30, age 60+ with 20 years, VERA, or LEO/FF/ATC).

What is SRS?

SRS — Special Retirement Supplement — is the FERS-only bridge payment that approximates your Social Security benefit from age 57 (MRA) to age 62. It ends when you turn 62 and start actual Social Security. SRS is only paid to retirees with an immediate, unreduced FERS pension (MRA+30, age 60+ with 20 years, VERA, or LEO/FF/ATC). Roughly 30,000 federal retirees receive SRS annually.

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.

FERS Multiplier Table

The FERS multiplier applies to every year of creditable service. Use 1.1% only if you retire at age 62 or older with at least 20 years of service — otherwise the standard 1.0% rate applies.

Service Years	Multiplier (Default)	Multiplier (Age 62+ with 20+ Years)
0–20 years	1.0%	1.0% (must reach 20 years first)
20–41 years	1.0% per year	1.1% per year (10% boost across all years)
Catch-up / Sick Leave	Service credit: 174 hrs = 1 month	Same credit (eligibility for 1.1% still requires 20 actual years)

Worked example: $95,000 High-3 × 30 years × 1.1% = $31,350/year ($2,613/month). Same employee at 1.0% would get $28,500/year ($2,375/month) — a $238/month difference for life.

FERS Monthly Annuity by Years of Service — GS-13 Step 5 High-3 ($131,964)

Worked example using Rest-of-US GS-13 Step 5 high-3 of $131,964 (2026 OPM pay scale, no locality). Use the calculator above to plug in your actual high-3.

Years of Service	Multiplier 1.0% — Monthly	Multiplier 1.0% — Annual	Multiplier 1.1% — Monthly	Multiplier 1.1% — Annual
10	$1,100	$13,196	not eligible (need 20 yrs)	—
15	$1,650	$19,795	not eligible (need 20 yrs)	—
20	$2,199	$26,393	$2,419	$29,032
25	$2,749	$32,991	$3,024	$36,290
30	$3,299	$39,589	$3,629	$43,549
35	$3,849	$46,187	$4,234	$50,808
40	$4,399	$52,786	$4,839	$58,068

Source: 5 U.S.C. § 8415; OPM 2026 GS pay scale. Your actual high-3 will vary by locality. Plug yours into the calculator above.

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.

FERS SRS Eligibility at a Glance — Special Retirement Supplement

The SRS is a FERS-only bridge payment that approximates Social Security until age 62. Eligibility requires an immediate, unreduced FERS retirement under one of the paths below.

Retirement Path	Minimum Age	Minimum Service	SRS Eligible?
MRA+30 (standard)	57 (most)	30 years	Yes
Age 60+ retirements	60	20 years	Yes
VERA (agency offer)	50	20 years (varies)	Yes, during VERA window
LEO / Firefighter / ATC	50	20 years	Yes
DSR (discontinued service)	Varies	Varies	Per agency offer

2026 SRS earnings limit: $24,480/year. Excess wages reduce SRS $1 for every $2 over the limit. SRS ends at age 62. Not COLA-adjusted. Taxed as wages, not Social Security.

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 →

FERS Annuity Calculator 2026

FERS Annuity Quick Answers

Calculate Your FERS Pension

Income Comparison: FERS vs. TSP vs. SPIA

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FERS Multiplier Table

FERS Monthly Annuity by Years of Service — GS-13 Step 5 High-3 ($131,964)

How the FERS Formula Works (5 Steps)

Find Your High-3

Count Service Years

Check Multiplier

Apply Formula

Compare Options

FERS SRS Eligibility at a Glance — Special Retirement Supplement

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Frequently Asked Questions

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FERS Annuity Calculator 2026

FERS Annuity Quick Answers

Calculate Your FERS Pension

Income Comparison: FERS vs. TSP vs. SPIA

Want a personalized SPIA quote?

FERS Multiplier Table

FERS Monthly Annuity by Years of Service — GS-13 Step 5 High-3 ($131,964)

How the FERS Formula Works (5 Steps)

Find Your High-3

Count Service Years

Check Multiplier

Apply Formula

Compare Options

FERS SRS Eligibility at a Glance — Special Retirement Supplement

Want a personalized FERS + Social Security + TSP strategy?

Frequently Asked Questions

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