Anonymous
Post 07/18/2024 12:13     Subject: Federal Employees Retirement System (FERS) Basic Benefit Plan - Based on Basic pay or Adjusted Pay

Can't you just look at your statement or pay stub anyway?
Anonymous
Post 07/18/2024 11:30     Subject: Federal Employees Retirement System (FERS) Basic Benefit Plan - Based on Basic pay or Adjusted Pay

Anonymous wrote:It's 1% of whatever you are paid "normally" for your locality.
https://www.opm.gov/retirement-center/calculators/fegli-calculator/basic-pay/#:~:text=Basic%20Pay%20is%20defined%20as,such%20as%20law%20enforcement%20officers


Thank you! Exactly what I was looking for.
Anonymous
Post 07/18/2024 11:25     Subject: Federal Employees Retirement System (FERS) Basic Benefit Plan - Based on Basic pay or Adjusted Pay

Anonymous
Post 07/18/2024 10:59     Subject: Federal Employees Retirement System (FERS) Basic Benefit Plan - Based on Basic pay or Adjusted Pay

Yes, locality pay is included in the calculation of your three-year high.
Anonymous
Post 07/18/2024 10:43     Subject: Federal Employees Retirement System (FERS) Basic Benefit Plan - Based on Basic pay or Adjusted Pay

The adjusted pay is actually called "Basic Adjusted Pay". So it is not clear what is used in the pension calculation.
Anonymous
Post 07/18/2024 10:37     Subject: Federal Employees Retirement System (FERS) Basic Benefit Plan - Based on Basic pay or Adjusted Pay

Can anyone who knows please advice if the Basic Benefit Plan for FERS is based on Basic Pay or Adjusted Pay (which basic + locality/market adjusted)?

So the 1% of annual pay that is accumulated for pension is it calculated for basic or adjusted?

Thank you!