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Employee B.
- FERS retirement system
- Full time schedule
- Age 51
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26 years 6 months
(Note: the 3 years refunded are not creditable for eligibility nor annuity
computation purposes)
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Work history:
- 23 years 6 months covered firefighter service, (includes 3 years when employee quit and took a refund of retirement
contributions.)
- 4 years military service*
- 2 years non-fire service**
Total service for annuity:
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High three average salary $28,000
Basic Annuity:
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1.7% x $28,000 =
$476 x 20 = $ 9,520
1% x $28,000 =
$280 x 6.5 = $ 1,820
$11,340
Quick Formula:
$28,000 x .405 =
$11,340
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| * Assume the deposit for military service is paid. |
| **Under FERS retirement, however not covered and no extra
½% contribution. |