November 26, 2013
NOTE: Each month, narfe magazine publishes a wide range of Questions & Answers from members. Don’t miss an issue. Keep your membership current!
 

FERS Annuity
 

QUESTIONMy wife was under the Federal Employees Retirement System (FERS) and left federal service after 10 years. Is she eligible for a pension and, if so, at what age? Is her annuity based on the high-three years and length of service?

ANSWERBecause your wife had at least five years of creditable service and left her contributions in the retirement fund, she will be eligible for a deferred annuity at minimum retirement age (MRA). If her MRA is under age 62, her annuity would be reduced by 5 percent for each year under age 62. Her annuity would be based on her length of service and her high-three years of average salary on the day she left government. You can estimate what it would be using this formula: 0.01 x high-3 x all years and full months of service. Or you can go to www.fedbens.us and use the online calculator. To determine your wife’s MRA, see the chart on page 4 of the Office of Personnel Management’s CSRS/FERS Retirement Handbook at http://www.opm.gov/retirement-services/publications-forms/csrsfers-handbook/c042.pdf

National Active and Retired

FEDERAL EMPLOYEES Association

NARFE (National Active and Retired Federal Employees Association) 606 N. Washington St., Alexandria, VA 22314, Phone: (703) 838-7760, Fax: (703) 838-7785.

 

This is the only website that reflects the official opinions and positions of the National Active and Retired Federal Employees Association (NARFE). Opinions and/or positions that appear on any other site bearing NARFE's name or seal are not necessarily those of NARFE. Click here for Privacy Statement.   NARFE has been certified by Dun & Bradstreet.

November 26, 2013
NOTE: Each month, narfe magazine publishes a wide range of Questions & Answers from members. Don’t miss an issue. Keep your membership current!
 

FERS Annuity
 

QUESTIONMy wife was under the Federal Employees Retirement System (FERS) and left federal service after 10 years. Is she eligible for a pension and, if so, at what age? Is her annuity based on the high-three years and length of service?

ANSWERBecause your wife had at least five years of creditable service and left her contributions in the retirement fund, she will be eligible for a deferred annuity at minimum retirement age (MRA). If her MRA is under age 62, her annuity would be reduced by 5 percent for each year under age 62. Her annuity would be based on her length of service and her high-three years of average salary on the day she left government. You can estimate what it would be using this formula: 0.01 x high-3 x all years and full months of service. Or you can go to www.fedbens.us and use the online calculator. To determine your wife’s MRA, see the chart on page 4 of the Office of Personnel Management’s CSRS/FERS Retirement Handbook at http://www.opm.gov/retirement-services/publications-forms/csrsfers-handbook/c042.pdf

National Active and Retired

FEDERAL EMPLOYEES
Association



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NARFE (National Active and Retired Federal Employees Association) 606 N. Washington St., Alexandria, VA 22314, Phone: (703) 838-7760, Fax: (703) 838-7785.

 

This is the only website that reflects the official opinions and positions of the National Active and Retired Federal Employees Association (NARFE). Opinions and/or positions that appear on any other site bearing NARFE's name or seal are not necessarily those of NARFE. Click here for Privacy Statement.   NARFE has been certified by Dun & Bradstreet.