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Reply to "FERS Feds - What is "your number" for retirement? "
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[quote=Anonymous][quote=Anonymous]Re: the annuity, you will receive a % point of your last high three salaries for each year that you worked. If I retire at eligibility I will have 33 years of service, or 1/3 of my highest income per year. Thus $45K per year before taxes. [/quote] If you have more than 20 years of service and are over 62 you get 1.1%. It sounds like you're looking at retiring at 57. If you were willing to stick it out to 62, you'd get 42% of your salary instead of 33. They do include locality pay in the salary calculation. When they say "base salary" they are excluding overtime, bonuses, premium pay (for people who work holidays/weekends), etc. [/quote]
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