Fers Retirement Ppt – Cute766

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1 percent of your high-3 typical income for each year of service Calculation of CSRS Part Duration, Formula First 5 years of CSRS service 1. 5% of your high-3 average wage for each year of service Second 5 years of CSRS service 1. 75% of your high-3 average income for each year of service All years of CSRS service over 10 2% of your high-3 typical wage for each year of service If retired under the unique arrangement for firefighters, law enforcement officers, or nuclear material couriers 2.

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2% of the remaining years of service times the high 3 average wage. If retired under the unique provision for Members of Congress or Congressional Personnel 2. 5% of your high-3 typical wage increased by your years and months of service as a Member of Congress and/or Congressional Staff member, your military service while on a leave of lack as a Member and up to 5 years of other military service, 1.

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

If you hold off the start date of your annuity, the age decrease will be reduced or eliminated.  Another Point of View  uses to both the Civil Service Retirement System and the Federal Worker Retirement System parts of your annuity, if you transferred to FERS and part of your annuity is computed under the CSRS provision.

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The reduction is 1/6 of 1% (2% annually) for every single month that you are under age 55 at the time of retirement. Survivor Benefits If you are wed, your advantage will be minimized for a survivor benefit, unless your partner consented to your election of less than a complete survivor annuity.