Ask The Experts: Retirement

By Reg Jones

CSRS annuity

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Q. My service computation date is Oct. 15, 1979, and I was eligible for my CSRS annuity on Sept. 23, 2008 (60 years old; 29 years of service). My plan is to retire Sept. 30. This will give me 34 years, one month and 23 days of service, counting sick leave. Is my retired pay based on my age now (65 years old, five years or 10 percent over the 60/20 requirement) or my years of service (34 — four over the required 30 years or 8 percent over the requirement)?

A. I have no idea what logic you are using to create those possibilities and am unwilling to take the time to find out. Instead, I’ll make life easier for both of us by telling you that your CSRS annuity will be computed in exactly the way it is for anyone who isn’t a special category employee. Here’s the formula:

.015 x your high-3 x 5 years of service, plus

.0175 x your high-3 x 5 years of service, plus

.02 x your high-3 x all remaining years and full months of service.

Note: Any days that don’t add up to a full month are dropped.

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