CSRS FEDERAL RETIREMENT CALCULATOR ------------------------------------------------------------ DISCLAIMER The information presented in this program is an approximation of your retirement benefits. See your personnel office for accurate retirement information. GENERAL This program will assist you in exploring Federal Civil Service retirement benefits for you and your survivors by entering and/or changing one or more of the following: 1. Average income for high three earning years 2. Projected yearly income increases 3. Federal service time 4. Your age 5. Sick leave hours accumulated 6. Sick leave hours projected to save You will view impacts on your retirement income based on: when you elect to retire, salary increases, sick leave accumulation, early retirement penalties, electing survivor benefits, and beneficiary income. Either short or long term initial retirement information is displayed in 12, one month or one year increments for easy comparison. All input information and calculations are displayed on the screen and can be printed on a dot matrix or laser printer. AVERAGE INCOME FOR HIGH THREE EARNING YEARS This is the highest pay obtainable by averaging your rates of basic pay in effect during any three consecutive years of civilian service, with each rate multiplied by the time it was in effect during the 36 month, high three period. Example 14 Months at $19,000 14/36 x $19,000 = $7,389 10 Months at $20,000 10/36 x $20,000 = $5,556 12 Months at $21,000 12/36 x $21,000 = $7,000 ====== Average income for high three earning years = $19,945 PROJECTED YEARLY INCOME INCREASES You can approximate an annual increase in your average high three earning years and view the results on a yearly basis. SERVICE YEARS AND MONTHS Service years are computed based on your service computation date - the years and whole months of creditable civilian service. SICK LEAVE Sick leave is counted in one month increments. Unused sick leave to your credit is added to your length of service for annuity computation purposes. Unused sick leave cannot be used in computing your high three average pay or for the purpose of meeting the minimum length of service required for retirement eligibility. 2% ANNUITY REDUCTION Retirement annuities are reduced by 1/6 of 1% for each full month (2% for each full year) under the age of 55. The amount shown in the 2% per year column are annual amounts of no survivor retirement income reduction. SURVIVOR ANNUITY The survivor annuity is calculated by reducing the No Survivor annuity by 2 1/2% for the first $3600 and 10% for the amount over $3600. BENEFICIARY ANNUITY The Beneficiary annuity is calculated by multiplying the No Survivor annuity by 55%. IMMEDIATE RETIREMENT ELIGIBILITY In general, immediate retirement eligibility is based on two requirements: minimum age and minimum service years as shown below. Minimum Age Minimum Service ----------- --------------- 62 5 60 20 55 30 The CSRS Federal Retirement Calculator displays all combinations of age and service. However, immediate retirement ELIGIBILITY is displayed with YELLOW numbers on a BLUE BACKGROUND (LIGHT NUMBERS on a DARK BACKGROUND on monochrome monitors). INELIGIBILITY for immediate retirement is displayed with YELLOW on a RED BACKGROUND (DARK NUMBERS on a LIGHT BACKGROUND). There are other conditions under which retirement eligibility differs from the general case depicted above.