Ask The Experts: Retirement

By Reg Jones

FERS retirement cap

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Q. I am a special provision FERS employee and, with my credited military service, I will have 34 years of creditable service for the annuity computation. With 1.7 percent per year for the first 20 years and 1 percent per year 20 years, my calculation has: 20 years x 1.7 = 34 percent, 14 years x 1 percent = 14 percent.  34 percent + 14 percent = 48 percent of my high-3. Is there a cap on the FERS annuity calculation like there is on CSRS?

A. No, there isn’t. To meet the 80 percent limit applied to earned CSRS annuities, a FERS employee would have to work for nearly 73 years.

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