How to Calculate Your FERS Pension in Under 5 Minutes

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[@glasshalffull2930]

The low amount of your pension is why it is ‘critical’ that you max out your TSP contributions during your career!!!

[@arequina]

If you are military that retired as Active Duty (AD), and work for the government, do NOT buy back your time. You will get less. If you did not retire as AD, you should really buy back your time. It will add more to your retirement. For example (using my experience), I did 20 years of federal service and I had almost 14 years of total AD time as a Navy reservist, I bought back my AD years. This is what I was able to do: retire at Minimum Retirement Age (MRA); served a total of over 31 years. I retired at 56.5 years of age. For those that are wondering, 20 + 14 does not equal 31 years. It's because I was recalled as a reservist (3 times) while working for the government. Those recalled years do not count toward your government service. It's considered double dipping. The best part is this: I also get my military retirement (retired as a reservist) pay separate from my FERS. As many has previously mentioned, you have to take out Vision, Dental, and Health insurance from your estimated FERS pension to give you a good estimate of what your pension is.

[@bigtime37ja]

Thank you for continuing to clarify this, as it can be a bit confusing.

[@jonmariejacobs8887]

The details are important. Your insurance premium, taxes, and survivor benefit will come out of this. The number you get by doing this calculation will be nowhere near what you see in your account.

[@reidloscidem3562]

To help bring things in perspective, I would help calculate my colleagues projected FERS monthly funds, then put it in the inflation calculator and then ask the question: Would it be enough if that was your only retirement fund?

[@paulettepierre6758]

This informative video is one of the many reasons both my wife and I (both federal employees) plan on making an appointment with your firm in the next year!

[@zenawarrior7442]

Thank you Dallen. Such easy to understand and valuable info always😊

[@DB-vc3xn]

As usual Dallen shares great info!

[@creativestudio-101]

Thanks so much for this video. You explained this so well. I'm glad I stumbled on your channel a few months ago. Receiving information in bits and pieces makes it so much easier to digest. I'm sharing this channel with my co-workers!!!!

[@davidpippin3460]

EBIS has a retirement calculator where you can play with the numbers

[@charleswatkins6402]

How about phased retirement?

[@jeffpadilla9891]

Do all government employees have access to GRB? I use the retirement calculator there.

[@comptroller39]

Hello Mr. Haws. Do you go out and visit organizations to explain their government benefits to them?

[@Cancer3686]

Do you have any videos on medical retirement?

[@bonnieweakley7405]

Are we going to use our base pay average or the adjusted base pay?

[@bridgetb2022]

It was not clear in video. Does the years of service include only years you paid into FERS vs temporary time or time without pension?

[@Ron-px2sv]

Does locality pay during the average high 3 years get removed when calculating my FERS pension?

[@edons1]

How does it work if you have 15 years special provision and 15 years normal provision? So 30 years total. I get 1.7 for all time spent overseas and normal for stateside duties. So when I retire I will have 15 years at 1.7 but I do not know how the rest would be calculated. So it would be $145,000 X 1.7 X 15 for half and 145,000 X 1.0 or 1.1 X 15 for 30 years of service? I have been trying to find this out for a while now.

[@goththicus]

Is your monthly gross pension taxed after deducting FEHB?

[@asandrik3124]

What has me more concerned is can Congress take away our pensions? What protects them? A war on government employees is coming how much can we depend on our Base Annuities????😢