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Reply to "Please explain the federal annuity"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This is very helpful. Can one of the experts give me their thoughts on this scenario? My DW is a GS 15 10, making $163,000 per year. She's been a federal employee (attorney) for 18.5 years. She's thinking of switching to the private sector in a few years. She likes working and so plans to work until 65 or later. Should she wait until after she has 20 years of federal employment to make the switch to the private sector, since she's only 1.5 years away? And if she doesn't feel strongly about making the switch to the private sector, what about just staying in the current job, which she likes well enough? Thank you.[/quote] The salary tables do not indicate that GS 15-10 is paid 163k. Regardless of that, leaving before getting 20 years in would be monumentally stupid.[/quote] Why? What happens with 20 year’s service if you are leaving well before retirement age anyway? Isn’t it just a straight calculation based on number of years?[/quote] After 20 years, your pension under FERS is calculated as 1.1% for each year of service rather than 1.0% [/quote]
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