By Reg Jones
Q. How is the special retirement supplement calculated? When I reach my minimum retirement age, I will have 25 years of civil service. I believe the eight-plus additional years military buyback only counts for retirement annuity. So what is the formula used to estimate what the supplement amount would be until age 62, when regular Social Security kicks in?
A. Use this formula: Take your Social Security benefit estimate at age 62 provided by the Social Security Administration, multiply it by your total years of FERS service rounded to the nearest whole year, and divide the product by 40.
Comments are closed.