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[quote=Anonymous][quote=Anonymous]Another poster.  What if I have 30 years and am just 57 (which is the minimum retirement age) when I end federal service?     How much would I expect to get?   High 3 is $163,000.   Would it make a difference if I opted to wait until I was 62 to start receiving the annuity, even if I retired at age 57?  Thanks.   I've been trying to figure this out but finding it confusing.

[/quote]

The info you need is here: https://www.opm.gov/retirement-services/fers-information/computation/

Assuming you are on FERS and not something like CSRS:

If you retire before you turn 62 OR have less than 20 years of service you get 1% of your high-3 for every year you worked.

If you retire at 62, or later, and have 20 years of service you get 1.1% of your high-3 for every year you worked.

So a 57 year old with 30 years of service would get 30% (30*1%) of their high 3. For a high 3 of $163,000, that means a pension of $48,900 a year to start with. There would be cost of living increases on top of that once you reach 62 years of age.

A 62 year old with 30 years of service would get 33% (30*1.1%) of their high 3. For a high 3 of $163,000, that means a pension of $53,790 a year with immediate cost of living increases.

A 62 year old with35 years of service and a high 3 of 163,000 would get a pension of $62,755 (35*0.011*163,000).[/quote]

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