Computation of FERS annuity supplement

Article Title: FERS annuity supplement Computation

Snippet of Article: "...The FERS annuity supplement is computed as if you were age 62 and fully insured for a social security benefit when the supplement begins. OPM first estimates what your full career (40 years) social security benefit would be. Then we calculate the amount of your civilian service under FERS and reduce the estimated full career social security benefit accordingly. For example, if your estimated full career social security benefit would be $1,000 and you had worked 30 years under FERS, we would divide 30 by 40 (.75) and multiply ($1,000 x .75 = $750). The result would be your FERS annuity supplement, prior to any reductions...."

Source: www.opm.gov Computation of FERS annuity supplement

OPM: Special Retirement Supplement (FERS Supplement)

Article Title: Special Retirement Supplement (FERS Supplement)
Snippet of Article: "...If you transfer to FERS and you have at least 1 calendar year (January 1 to December 31) of FERS service when you retire, you will be eligible for the Special Retirement Supplement. The special retirement supplement (also known as the FERS supplement) is unique to FERS. It substitutes for the Social Security part of your total FERS benefit until age 62, when most people become eligible for Social Security. The purpose of the supplement is to provide a level of income before age 62 similar to what you will receive at age 62 as part of a Social Security benefit. The supplement stops at age 62 even if you are not eligible for Social Security. Like Social Security benefits, the supplement is subject to an earnings test, which means the supplement is reduced if your income from earnings or self-employment is higher than an allowable amount...."

Source: www.opm.gov

[tag]Federal,Government,Military,Retiree, [/tag]