Review the Federal Employees Group Life Insurance (FEGLI) Handbook
Answering your questions about Healthcare and Insurance
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Your basic annuity is computed based on your length of service and “high-3” average salary. To determine your length of service for computation, add all your periods of creditable service, then eliminate any fractional part of a month from the total.
Your “high-3” average pay is the highest average basic pay you earned during any 3 consecutive years of service. These three years are usually your final three years of service, but can be an earlier period, if your basic pay was higher during that period. Your basic pay is the basic salary you earn for your position. It includes increases to your salary for which retirement deductions are withheld, such as shift rates. It does not include payments for overtime, bonuses, etc. (If your total service was less than 3 years, your average salary was figured by averaging your basic pay during all of your periods of creditable Federal service).
At time of transfer, had at least 5 years of creditable civilian service covered by either:
(but not both-excludes service during which partial CSRS deductions were withheld)
Annuity will have 2 components:
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If you retire under the MRA+10 provision
If you retire under the discontinued service or early optional retirement provision with a CSRS Component
If you are married, your benefit will be reduced for a survivor benefit, unless your spouse consented to your election of less than a full survivor annuity. If the total of the survivor benefit(s) you elect equals 50% of your benefit, your annuity is reduced by 10%. If the total equals 25%, the reduction is 5%.
If you have a CSRS component in your annuity:
Your benefit may be reduced if you elected a lump sum payment equal to your retirement contributions and a reduced monthly annuity, commonly called an alternative annuity. Only non-disability annuitants who have a life-threatening affliction or other critical medical condition can elect this option.
FERS disability benefits are computed in different ways depending on the annuitant’s age and amount of service at retirement. In addition, FERS disability retirement benefits are recomputed after the first twelve months and again at age 62, if the annuitant is under age 62 at the time of disability retirement.
You receive your “earned” annuity based on the general FERS annuity computation, as follows
60% of your high-3 average salary minus 100% of your Social security benefit for any month in which you are entitled to Social Security benefits.
However, you are entitled to your “earned” annuity, if it is larger than this amount.
40% of your high-3 average salary minus 60% of your Social Security benefit for any month in which you are entitled to Social Security disability benefits.
If your actual service, plus the credit for time as a disability annuitant equals less than 20 years:
If your actual service, plus the credit for time as a disability annuitant equals 20 or more years:
Total Service used in the computation will be increased by the amount of time you have received a disability annuity.
Average Salary used in the computation will be increased by all FERS cost-of-living increases paid during the time you received a disability annuity.
If you are married, your benefit will be reduced for a survivor benefit, unless your spouse consented to your election of less than a full survivor annuity.
If you have a CSRS component in your annuity, the CSRS portion of your benefit will be reduced by 10% of any deposit owed for CSRS non-deduction service performed before October 1, 1982, unless the deposit was paid before retirement.
Your annuity will be increased for cost-of-living adjustments, if:
FERS retirees under age 62 who do not fall into one of the categories above, are not eligible for cost-of-living increases until they reach age 62.
If you’ve been receiving retirement benefits for less than 1 year and are eligible for a cost-of-living adjustment, you’ll get a percentage of the cost-of-living increase. The percentage depends on how long you were receiving your annuity before the effective date of the increase.