By Reg Jones
Q. Is there a basic FERS retirement scale at each GS level with number of years? Total retirement received by number of years?
A. No, and it wouldn’t make sense to have one. That’s because a FERS annuity is based on a percentage of your highest three consecutive years of average basic pay multiplied by your years and full months of service.
For most employees, the formula is: .01 x high-3 x years and full months of service (including half credit for unused sick leave until Dec. 31, 2013, full credit thereafter). If you retire at age 62 or later with at least 20 years of service, the percentage is increased to .011.
Note: If you meet certain requirements, your annuity will be increased by a special retirement supplement that approximates the amount of Social Security benefit you earned while a FERS employee. That supplement ends at age 62 when you become eligible for a regular Social Security benefit.
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