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Thread: Retirement question - preparing for retirement possibly this year...........

  1. #1

    Join Date
    May 2010
    Location
    Maumelle
    Posts
    48

    Default Retirement question - preparing for retirement possibly this year...........

    I am a FERS transfer and will have 13 yr 7 mths as FERS transfer. Does OPM actually review the average salary for each year to calculate the 1/40 for the FERS supplement? Does anyone know about the FEDBENS.us website and how accurate this site is????

    I have three different results for my FERS supplement:

    the first estimation is from the HR person who did not have access to my personnel file and the figure was 50% less than my calculation. She would not tell me how she calculated this estimate and told me they arent even suppose to provide this and always give a low figure. The second estimation I divide my years under FERS by 40 and then multiply my social security annuity at age 62 minus the salary before government. The third estimation on FEDBEN.us where the calculation involves entering salary for each year under FERS is the highest? Again thanks for any input, our HR personnel are PATHETIC!!!!!!!!!! I dont know what I would do without this site, there is no support for a federal employee and you have to look out for yourself!

    bj


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  3. #2

    Join Date
    Jan 2011
    Location
    El Paso Texas
    Posts
    11,541

    Default Re: Retirement question - preparing for retirement possibly this year...........

    FERS transfer from what? As I understand it the #/40 is the years in goverment that you pay toward Social Security. Not bought back military time or CSRS time. I don't know about CSRS offset time unless you paid into Social Security all along.
    Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.

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