Remember, if they drop 15 days, as in this example, 15 days only equals 87 hours of sick leave according to the chart, not 120 hours for those who work an 8-hour day! Her retirement will equal 28% x high-3 average salary (roughly, the average of your highest rates of basic pay over any three consecutive years of creditable civilian service). Now her retirement will be calculated using 28 years 0 months and the 15 days will be dropped. There is no assurance that any investment plan or strategy will be successful.However, she also has 857 hours of sick leave available – go Athena! Using the 2087 hours sick leave chart, that will add an additional 4 months and 28 days to her creditable service. Securities investing involves risk, including the potential loss of principle. There is no guarantee that any forward-looking statements or opinions provided will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant, or legal counsel prior to implementation.Ĭontent provided herein is for informational purposes only and should not be used or construed as investment advice or recommendation regarding the purchase or sale of any security. Material presented is believed to be from reliable sources, and no representations are made by our firm as to other parties, informational accuracy, or completeness. Opinions expressed herein are solely those of Shilanski & Associates, Incorporated, unless otherwise specifically cited. Please review our Customer Relationship Summary ( Form ADV Part 3) for important information about our services and fees. There is no guarantee that any investment plan or strategy will be successful. Securities investing involves risks, including the potential for loss of principal. This website is not personalized investment advice. All content on this site if for information purposes only. Plan Your Federal Retirement is not employed by the United States Federal Government and does not represent the United States Federal Government. Click here to learn more about the FERS Supplement.Īdvisory services offered through Shilanski & Associates, Inc., an Investment Adviser doing business as “Plan Your Federal Retirement”. But not all FERS are eligible to receive the Supplement. It will supplement a portion of your missing Social Security income until you reach age 62. The FERS Supplement is designed to help bridge the money gap for certain FERS who retire before age 62. Social Security is an important part of the FERS Retirement package – but what about FERS who retire before they could even draw Social Security? It’s called the Special Annuity Supplement, but more commonly known as the FERS Supplement. There is a special benefit for some FERS retiring before age 62. Special Benefit for FERS Retiring Before Age 62 You can create a mySocialSecurity account and view your statement online. If you do not have a paper statement, you can view your statement online. But in recent years the Social Security Administration only mails statements to workers over age 60. The easiest place to find out how much you can expect to receive in Social Security used to be your Social Security Statement. The amount of Social Security you receive depends on the amount of money you’ve earned over the years and how long you have been working in a job that contributes to Social Security (most do). But just like your FERS retirement pension, your Social Security benefit is not exactly based on your contributions – it is based on other factors.

How Much Social Security Will I Get?Įvery pay period, the Federal Government takes out 6.2% of your basic pay to put towards Social Security. Employees covered under the Federal Employee Retirement System (FERS) are typically eligible to receive Social Security benefits when they retire.

Fers retirement date calculator