FERS Retirement Calculator

Federal employee pension + TSP projection

$
$
$
7.0%
3.0%10.0%
$

Total Monthly Income

$9,864/mo

Annuity

$1,742/mo

TSP (4%)

$8,123/mo

Replacement

124.6%

Based on 20 years of service with a High-3 of $95,000, your FERS annuity is $1,742/mo. Combined with TSP and Social Security, you replace 124.6% of your salary.

Monthly Income Breakdown

FERS Annuity$1,742
TSP Withdrawal (4%)$8,123
Social Security$2,000

FERS Annuity

$1,742/mo

$20,900/year

TSP at Retirement

$2,436,789

$8,123/mo at 4%

Social Security

$2,000/mo

Starting age 67

Understanding FERS Retirement

FERS provides retirement benefits through three components, often called the "three-legged stool."

01

FERS Basic Annuity

A defined benefit pension based on years of service and your highest three years of salary.

02

Thrift Savings Plan (TSP)

A defined contribution plan similar to a 401(k), with agency matching up to 5%.

03

Social Security

Federal employees under FERS are covered by Social Security and pay FICA taxes.

FERS Annuity Formula

Your FERS basic annuity is calculated as:

Years of Service x Multiplier x High-3 Average Salary

Standard multiplier

1% per year of service

Enhanced multiplier

1.1% per year if you retire at age 62+ with 20+ years

For example, a federal employee with 30 years of service, retiring at age 62 with a High-3 salary of $95,000: 30 x 1.1% x $95,000 = $31,350/year ($2,612.50/month).

FERS Retirement Eligibility

Age Years of Service Notes
MRA (56-57)30Full annuity + FERS Supplement
6020Full annuity + FERS Supplement
625Full annuity (1.1% multiplier if 20+ years)
MRA (56-57)10Reduced annuity (5% per year under 62)

Planning Your Federal Retirement

Use this calculator alongside the Coast FIRE Calculator to see when your combined FERS annuity, TSP, and Social Security might allow you to achieve financial independence. Many federal employees find they can reach Barista FIRE well before their earliest FERS retirement eligibility.

Frequently Asked Questions

What is FERS?
FERS (Federal Employees Retirement System) is the retirement plan for federal civilian employees hired after 1987. It's a three-part system consisting of the FERS Basic Annuity (a defined benefit pension), the Thrift Savings Plan (TSP, similar to a 401k), and Social Security.
How is the FERS annuity calculated?
The FERS basic annuity formula is: Years of Service x Multiplier x High-3 Average Salary. The multiplier is 1% per year of service, or 1.1% if you retire at age 62 or older with 20+ years of service. For example, 30 years x 1.1% x $95,000 = $31,350/year.
What is the High-3 salary?
The High-3 average salary is the average of your three highest-paid consecutive years of federal service. For most employees, this is typically the last three years before retirement. It includes base salary, locality pay, and certain other forms of pay.
What is the FERS Supplement?
The FERS Supplement is an additional payment for employees who retire before age 62 at their Minimum Retirement Age (MRA) with 30 years of service, or at age 60 with 20 years. It's designed to bridge the gap until Social Security begins and is approximately equal to the portion of your Social Security benefit earned during federal service.
What is the Minimum Retirement Age (MRA)?
The MRA for FERS employees ranges from 55 to 57 depending on your birth year. For employees born in 1970 or later, the MRA is 57. You can retire at your MRA with 30 years of service, at age 60 with 20 years, or at age 62 with 5 years.
How much should I contribute to TSP?
At minimum, contribute enough to get the full agency match (5% of salary for a 5% match). The 2026 TSP contribution limit is $23,500, plus an additional $7,500 catch-up contribution if you're 50 or older. Maximizing TSP contributions is one of the best ways to build retirement wealth as a federal employee.
Is FERS a good retirement plan?
FERS is considered one of the better retirement plans available. The combination of a guaranteed pension (annuity), employer-matched TSP, and Social Security provides a strong three-legged stool. Many federal employees can replace 60-80% or more of their pre-retirement income through FERS.
Can I retire early under FERS?
Yes. You can retire at your MRA (56-57) with 30 years of service, at age 60 with 20 years, or at age 62 with 5 years. Early retirement with a reduced annuity is also possible under certain circumstances. The FERS Supplement helps bridge the gap to Social Security for early retirees.

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