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Alternative Annuity Your advantage may be decreased if you chose a lump amount payment equal to your retirement contributions and a lowered month-to-month annuity, typically called an alternative annuity. Only  The Most Complete Run-Down -disability annuitants who have a dangerous affliction or other crucial medical condition can elect this alternative. Disability Retirement Calculation FERS impairment advantages are calculated in different methods depending upon the annuitant's age and quantity of service at retirement.

FERS Disability Computation if Age 62 or older at retirement, or Fulfill the age and service requirements for instant voluntary retirement You get your "made" annuity based on the general FERS annuity computation, as follows Annuity Formala Age, Solution If age 62 or older at retirement with less than 20 years of service, under age 62 received an immediate voluntary retirement 1 percent of your high-3 typical salary for each year of service If age 62 or older with 20 or more years of service 1.

Civilian Federal Retirement: Current Law, Recent Changes, and Reform  Proposals - EveryCRSReport.com

How to Calculate the FERS Basic Annuity

Nevertheless, you are entitled to your "earned" annuity, if it is larger than this quantity. After the first 12 months 40% of your high-3 average wage minus 60% of your Social Security advantage for any month in which you are entitled to Social Security special needs advantages. However, you are entitled to your "earned" annuity, if it is bigger than this amount.

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If your real service, plus the credit for time as a special needs annuitant equates to less than 20 years: 1 percent of your high-3 average salary for each year of service If your real service, plus the credit for time as a special needs annuitant equates to 20 or more years: 1. 1 percent of your high-3 typical income for each year of service Total Service used in the computation will be increased by the quantity of time you have received a special needs annuity.

Reductions in Special Needs Annuity Survivor Benefits If you are wed, your advantage will be lowered for a survivor benefit, unless your spouse granted your election of less than a full survivor annuity. If the total of the survivor benefit(s) you choose equates to 50% of your advantage, your annuity is decreased by 10%.