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How to Interpret the Retirement Estimate Report

In the example below the employee is covered under FERS with a retirement date of 12/31/22 and elected a Full Survivor Benefit.

How to Interpret the Retirement Estimate Report


Unreduced Monthly Annuity:  This figure is before federal taxes, health insurance, life insurance, survivor benefit premiums, and any reductions.

Early Retirement Age Reduction:  This figure, if there is one, would be if you are retiring under an MRA+10 retirement. The reduction under an MRA+10 retirement is 5% for every year or 5/12% per month you are under the age 62.

Survivor Benefit Cost Reduction:  The monthly premium to provide a survivor benefit (full benefit premium is 10% of your annuity and partial benefit premium is 5%)

Gross Monthly Annuity:  This is the monthly annuity amount less the age reduction and cost of the survivor benefit.

Health Insurance Premium:  Health insurance premiums in retirement are the same as for FT employees, but on a monthly basis instead of a biweekly basis.

Life Insurance Premium:  The monthly premium for life insurance is based on the amount you elected to continue in retirement.  The premium and value of your coverage may change as you get older, depending on your election.

Federal Tax Withholding:  This tool is not updated to reflect the new tax laws.  Please contact a professional tax advisor for any tax questions.

Net Monthly Annuity:  This is your take home monthly annuity amount after all applicable federal taxes, premiums, and reductions included.

Annuity Supplement:  If you are eligible for the FERS Supplement this is a ballpark figure of the supplement.  It will be subject to the social security earnings test and will cease the last day of the month you turn 62 or become entitled to social security benefits, whichever is earlier.

How to Interpret the Retirement Estimate Report 


Monthly Survivor Annuity:  This is the amount that your spouse would receive if you elected a full (50% of your annuity) or partial (25% of your annuity) survivor benefit.  This figure does not include taxes or insurance premiums.

 How to Interpret the Retirement Estimate Report
Note: Depending on your specific type of service you may have time under CSRS and/or FERS.  In this example the employee only has FERS service.

FERS Service:  This is shown in years, months, and days and it based on the Retirement SCD that is in our payroll system. 

FERS Sick Leave Credit:  Your current sick leave balance is calculated by converting the hours to years, months, and days by using the 2087 sick leave chart

Total Service Credit:  Your annuity is computed based on the years and months of the total service credit.  The total service credit is the service credit and sick leave added together.

How to Interpret the Retirement Estimate Report

Note:  Some of these line items are self-explanatory and will not be addressed below.

Retirement System:  This is the retirement system you are in, based on your prior federal service and when you were hired with the federal government.

Date of Retirement:  This is the date you entered into the calculator for the estimate.

Retirement SCD:  This is your Retirement SCD for eligibility that is currently in the personnel database.

High-3 Average Salary:  This figure is dependent on whether you used the High-3 calculator or whether the system used 96% of your current salary.

Survivor Benefit Base Elected:  If you chose a full survivor benefit, you will see 100% displayed.  If you chose a partial survivor benefit, you will see 50% displayed.  These percentages do not indicate the actual amount payable to your spouse.   Refer to the “Monthly Survivor Annuity for the actual figure.

Frozen Sick Leave Balance:  This area will only affect you if you have more than 5 years of CSRS service and elected to transfer to FERS.  

Final Sick Leave Hours:   This is the amount of sick leave hours that was entered in the calculator.

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