About Us

As an independent firm, The Federal Retirement Group is unattached to any financial institution. Pete collaborates with top industry providers to deliver tailored solutions that meet each client's unique needs. Having served over 245,000 federal employees across 45 states, Pete's dedication, knowledge, and commitment shine bright, making him the go-to expert for federal retirement planning and benefits. Let Pete help you take control of your financial future – he's got the expertise and heart to make it happen.

                                                 

Federal employees need to understand the key differences between the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS) benefits, including eligibility ages and calculation formulas.

• Eligibility: FERS is the current retirement system for federal employees, while CSRS was phased out in 1987 and only applies to employees who were already covered under it.
• Pension Calculations:
  • FERS: Minimum Retirement Age (MRA) varies based on birth year, with a minimum age of 56-57 years old
    • Under age 62 or less than 20 years of service: 1% of high-3 average salary times years of service
    • Age 62 or older with at least 20 years of service: 1.1% of high-3 average salary times years of service
• CSRS: Generally requires 5 years of creditable civilian service and meets certain age requirements
  • First 5 years of service: 1.5% of high-3 average salary times years of service
  • Second 5 years of service: 1.75% of high-3 average salary times years of service
  • Over 10 years of service: 2% of high-3 average salary times years of service
• High-3 Average Salary: The highest average basic pay earned during any 3 consecutive years of service.

• Air Traffic Controllers, Firefighters, Law Enforcement Officers: 1.7% of high-3 average salary times years of service up to 20 years, and 1% times years of service over 20 years
• Members of Congress or Congressional Employees: 1.7% of high-3 average salary times years of service up to 20 years, and 1% times years of other service
• Survivor Benefits: Reduces annuity by 10% for a full survivor benefit or 5% for a partial survivor benefit
• Cost of Living Adjustments (COLAs): FERS retirees under age 62 are not eligible for COLAs unless retired under special provisions or disability

• Unused Sick Leave: Can be added to length of service for annuity computation purposes
• Disability Retirement: Computed differently depending on age and service requirements
• Annuity Supplement: FERS retirees may be eligible for an annuity supplement until age 62