The purpose of this page is to inform Federal Employees enrolled in the Federal Employees Retirement System (FERS) of the approximate date upon which they can retire and to forecast the possible retirement benefits an individual is likely to receive under the Federal Employees Retirement System (FERS). Please note that retirement benefits under FERS include:
You must be aware that there are a multitude of factors that will affect your actual retirement benefits--many of which are not addressed by this simple program. Nevertheless, this page may be used as a first step towards gleaning "ballpark" figures regarding what your benefits are likely to be. If anything, it should encourage you to set aside even more for retirement. Since you are likely to live 20 years or more beyond retirement, you'll need it.
To get an estimate of your retirement benefits, complete the information form on the left side of the page and click on the "Submit" button.
Birthdate = enter your date of birth. This information is used to calculate your earliest retirement date and the amount of your FERS annuity upon retirement. In conjunction with your retirement date, it can help you determine how long you are likely to live after you retire--and thus you can make a rough calculation of how much you will need to save by the time you retire in order to live in retirement as you desire.
Service Computation Date = usually it is the date you began government service, but that date is adjusted if you had any break in service. This information is used to calculate eligibility to retire and the number of years of service you will have upon retirement.
Current TSP Value = enter the total current value of your TSP (including employer contributions). This figure will be used to project the value of your TSP upon retirement assuming that the amount in your TSP grows at 4%, 8% or 12% annually until retirement.
TSP Contribution = enter the total annual contribution of both you and your employer to your TSP plan (for instance if you contribute 5% of your 40000 salary enter 4000--2000 representing your contribution and 2000 representing the government matching contribution. The government matches only the first 5% of your contribution, so be careful to enter correct data if you contribute more than 5% on your own. The 5% matching contribution is one of the greatest benefits to government employees--where else can you get a 5% raise without even asking. If you are not taking advantage of this benefit, do so know. Your heirs will appreciate it even if you don't. This information is used to project the value of your TSP upon retirement.
Remember, to get an estimate of your retirement benefits, complete the information form on the left side of the page and click on the "Submit" button.
Caveat Emptor. This page is under construction, so it may not handle all situations or calculations correctly yet.