Three EASY Steps to Calculate Your FERS Pension

In this video, we discuss the three components and the three steps to calculate your FERS Annuity (Retirement Pension).

Do you have questions or concerns about Federal Benefits or Retirement Planning?

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Fedway Financial provides financial planning, investment management, and benefits training to federal employees and retirees. Our goal is to help you understand and maximize your federal benefits program, and make prudent and informed decisions related to every facet of your financial life.

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Disclaimer: All content on this site is for general information purposes only and is not intended to provide any personalized financial advice.

[michellemoss]

This by far was the best explanation on YouTube. He was straight to the point and was able to give real life examples

[Flowersinthesnow]

Amazing, I have gone to a lot of retirement seminars as a federal worker and you have presented the most precise and clear example of the calculation. Excellent

[JohnnyEarlJones]

This video made the calculation simple to figure out.

[deemiles]

Thank you so much, you provided a very good explanation for how FERS pension is calculated.

[jacquelinemccoll]

This video is very helpful!! First I’ve seen that uses years and months in the high-3 salary calculation. My agency’s estimate shows the 36 months of salary based on the date of planned retirement. Unfortunately, because the end of the leave year has gone into the first 12 and 13 days of the following calendar year; it has been difficult to replicate the high-3 salary figure given.

[itzme]

Thank you, good information! I am glad I subscribed 🙂

[nickroberts]

i started at the veterans administration when i was 20yrs old. I quit when i was 33 yrs old. Will I get a pension? Thanks

[irambler]

Assuming my high 3 was a total of 150, 000. I had 16 years at USPS which ended in 2012. In my calculations it would be $666 per month, correct? If I made my claim at age 59 instead of 62 would it be $566 per month? Is there any added from Social Security possible at age 59?

[natedogg]

What about people that's been on owcp since 2009 until 2022, Will opm count the time towards retirement

[shazam]

I'm looking at my MIL's pension statement from the OPM. It shows (average high 3 salary) X 0.011 multiplier X (years and months of service). This all makes perfect sense, to this point, and these 3 numbers are correct. But the kicker is the fourth line in the formula then shows X 0.99 with no explanation or footnote (reducing her benefits by 0.01). Anybody have any idea what the 0.99 is?

[phillylady]

What if you’re under 62 with 30 years of service? Is your multiplier still 1%?

[brentski]

I see nothing about special provision employees who receive a 1.7% multiplier.

[itguru]

Gs-15 with 30 years. Will separate at 62

[brownr]

IS ANYONE astute enough to explain the steps to take to get your pension?

[jimmywalters]

You forgot to tell people about Social Security Supplement income if you are under 62 .. or regular social security begining at 62 which will add additional money to your retirement amount.