Retirement Income Calculator - Members 1st Federal Credit for Beginners

5% service, do not exceed 10 years, 2% of your high-3 average salary increased by your years of other service in excess of 10 years Decreases in Non-Disability Annuity Age If you retire under the MRA +10 provision If you have 10 or more years of service and retire at the Minimum Retirement Age (MRA), your advantage will be reduced by 5/12 of 1% for each complete month (5% per year) that you were under age 62 on the date your annuity started.

If you postpone the beginning date of your annuity, the age reduction will be reduced or eliminated. The age decrease uses to both the Civil Service Retirement System and the Federal Personnel Retirement System parts of your annuity, if you moved to FERS and part of your annuity is computed under the CSRS arrangement.

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The decrease is 1/6 of 1% (2% annually) for each month that you are under age 55 at the time of retirement.  Read This  If you are wed, your advantage will be minimized for a survivor benefit, unless your partner consented to your election of less than a full survivor annuity.

If the overall equates to 25%, the reduction is 5%. Unpaid or Refunded Service If you have a CSRS element in your annuity: The CSRS portion of your benefit will be lowered by 10% of any deposit owed for CSRS non-deduction service performed before October 1, 1982, unless the deposit was paid before retirement.

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Alternative Annuity Your benefit might be reduced if you elected a swelling amount payment equivalent to your retirement contributions and a reduced monthly annuity, commonly called an alternative annuity. Only non-disability annuitants who have a lethal affliction or other important medical condition can elect this choice. Special Needs Retirement Computation FERS disability benefits are calculated in different ways depending on the annuitant's age and quantity of service at retirement.