# What is the average pension of a federal employee?

The average civilian federal employee who retired in FY 2016 was 61.5 years old and had completed 26.8 years of federal service. he average monthly annuity payment to workers who retired under CSRS in FY 2018 was \$4,973. Workers who retired under FERS received an average monthly annuity of \$1,834.

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## Correspondingly, how many years do you have to work for the federal government to get a pension?

5 years

Also to know is, can I retire after 20 years of federal service? Immediate Retirement

If you retire at the MRA with at least 10, but less than 30 years of service, your benefit will be reduced by 5 percent a year for each year you are under 62, unless you have 20 years of service and your benefit starts when you reach age 60 or later.

## Similarly, how much does a GS 13 make in retirement?

How much does a GS 13 make in retirement? Payment for a GS-12, Step 10, Rest of the US, is \$ 95,388 in 2018. Using that as a maximum of 3, and with 30 years and under 62, that equates to an income of 28,616 \$ (\$ 25,754 with survivor benefit). At age 62 or older, it would be \$ 31,478 (\$ 28,330).

## How do I calculate my federal retirement income?

FERS (Immediate or Early)

FERS annuities are based on high-3 average pay. Generally, the benefit is calculated as 1 percent of high-3 average pay multiplied by years of creditable service. For those retiring at age 62 or later with at least 20 years of service, a factor of 1.1 percent is used rather than 1 percent.

## How much will my FERS pension be?

How much does this equal in guaranteed pension income? FERS Pension = 1% x high-3 salary x years worked. FERS Pension = 1.1% x high-3 salary x years worked. This equals 1% – 1.1% of your highest annual salary for every year of federal service.

## Can I retire after 30 years of federal service?

Normally, an employee is eligible to retire from federal service when the employee has at least 30 years of service and is at least age 55 under the Civil Service Retirement System or 56 and two months under the Federal Employees Retirement System; has at least 20 years of service and is at least age 60; or has at …

## Can I retire after 10 years of federal service?

An employee who has reached a minimum retirement age is entitled to immediate benefits after 10 to 30 years of service. Again, if they have less than 30 years in service, benefits are reduced by 5% for each year they are under age 62 unless they’ve reached 20 years of service and retire at age 60 or older.

## Can you retire after 10 years of work?

Since you can earn 4 credits per year, you need at least 10 years of work that subject to Social Security to become eligible for Social Security retirement benefits.