What Federal Employees With a FERS Pension Are Getting Wrong About Their TSP
Snippet of Article: "...The FERS basic annuity formula pays 1% of your high-3 average salary for each year of service, or 1.1% for those who retire at 62 or later with at least 20 years. A federal employee with 30 years of service and a $90,000 high-3 average salary receives a pension of roughly $27,000 per year before taxes. That is 30% of pre-retirement income, not the 60%-70% many workers expect. Social Security is the second "leg" of the FERS stool. ..."
Source: finance.yahoo.com