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Department of Defense


The Department of Defense (DoD) is charged with coordinating and supervising all agencies and functions of the government relating directly to national security and the United States armed forces. The mission of the Department of Defense is to provide the military forces needed to deter war and to protect the security of our country.

The Department of Defense is America's oldest and largest government agency -tracing its roots back to pre-Revolutionary times. Today, the Department is not only in charge of the military, but it also employs a civilian force of thousands. With over 1.4 million men and women on active duty, and 718,000 civilian personnel, DoD is the nation's largest employer. Another 1.1 million serve in the National Guard and Reserve forces. More than 2 million military retirees and their family members receive benefits.

Perhaps you are working for the DoD or interested in working for the DoD. Here is a forum to share your experience with the DoD.
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Foxtrotflyer  
#1 Posted : Tuesday, February 16, 2021 10:04:56 AM(UTC)
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I am a GG12 with 16 years of service plus 3 years military service that I purchased toward my retirement. I am attempting to find the most accurate method of calculating my retirement income without TSP. What is the best method to ascertain an accurate calculation? Thanks !!
FS0201  
#2 Posted : Tuesday, February 16, 2021 10:15:24 AM(UTC)
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Quote:
Computation for Non-Disability Retirements
FERS Basic Annuity Formula

Under Age 62 at Separation for Retirement, OR Age 62 or Older With Less Than 20 Years of Service
1 percent of your high-3 average salary for each year of service

Age 62 or Older at Separation With 20 or More Years of Service
1.1 percent of your high-3 average salary for each year of service


https://www.opm.gov/reti...information/computation/

The best method may be to request the calculation from your retirement team - if you have one.

Edited by user Tuesday, February 16, 2021 10:16:35 AM(UTC)  | Reason: Not specified

The excuse of, "I read it on FederalSoup..." won't work. Please do your due diligence.
someoldguy  
#3 Posted : Tuesday, February 16, 2021 1:03:55 PM(UTC)
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Originally Posted by: Foxtrotflyer Go to Quoted Post
I am a GG12 with 16 years of service plus 3 years military service that I purchased toward my retirement.
I am fairly certain that your three years of military "buyback" will count toward that 1.1% calculation. That is, if you get to 17 years of service (and are at least 62 as FS0201 points out) then the three years of military buyback makes it 20 years, and you'll be eligible for the 1.1% of the high three.

That extra 0.1% may not sound like much but it is a 10% increase in the pension if you look at it that way.

Edited by user Tuesday, February 16, 2021 1:04:43 PM(UTC)  | Reason: nod to FS0201

DISCLAIMER: You read it on an open internet forum :)
roger.d  
#4 Posted : Friday, February 19, 2021 12:19:23 PM(UTC)
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https://www.fedcalc.com/fers.jsp

Co-workers I have given this site to have said the calculator was very close to what OPM calculates.

It asks for personal information, but you can always give bogus information.
Those who are, know those who are not.

If you think they are after you, what did you do wrong?
nembamike  
#5 Posted : Wednesday, February 24, 2021 5:59:19 AM(UTC)

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I retired end of 2019 after 34 years with 4 years with the Air Force. I retired as GS-12. I had my annuity calculated before I left and it was pretty accurate. It took several months for the monthly checks to start up so be prepared for that. I did get my payout for annual leave very quickly. Put as much as you can in your TSP. Good luck.

Edited by user Wednesday, February 24, 2021 5:59:54 AM(UTC)  | Reason: Not specified

smithandjones  
#6 Posted : Wednesday, February 24, 2021 4:07:50 PM(UTC)

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Originally Posted by: roger.d Go to Quoted Post
https://www.fedcalc.com/fers.jsp

Co-workers I have given this site to have said the calculator was very close to what OPM calculates.

It asks for personal information, but you can always give bogus information.



Be aware that this calculator does not appear to calculate the reductions for early retirement or have any warnings about it. It gives an amount for the basic annuity calculation. Reductions for MRA ages with more than 10 years but less than 30 still would need to be accounted for.
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