The easiest way to find out how to calculate FERS retirement, or Federal Employee Retirement System retirement, is by using an online FERS calculator. You can find one of these calculators by using a search engine. The calculator has some specific information that is required to plug in the data fields in order to calculate FERS retirement.
- Use the internet to find an online FERS retirement calculator. The first input field is usually for your date of birth. Next you will put in your Service Computation Date, and the date you plan to retire. You can adjust your retirement date later, if the calculation is not what you expected.
- The next part of the calculation may require some research. You need to determine your High-3 salary, which is the average salary during the highest three year period of your career. If you are not sure of the exact amount, contact your payroll department and have them provide you with the figure. Once you have the right amount, plug this number into the calculator in the High-3 Salary field.
- The final field is for survivor benefits for a current or former spouse. If you choose this option, decide if the benefit amount will be 50 or 100 percent. Put this last bit of information in the calculator, and then hit the compute button to calculate FERS retirement.
- You should see a summary of your FERS retirement annuity. Review all of the information you put in to make sure it is correct. If you have any questions or concerns about the results, contact your Human Resources department and have them double check your calculations to be sure the results are accurate.