FERS pension and TSP: when can I retire, and how much?

Rules checked October 17, 2026, against opm.gov, tsp.gov and the U.S. Code

The Federal Employees Retirement System (FERS) covers most federal civilian employees hired in 1984 or later. It has three parts: a monthly pension called the basic annuity, the Thrift Savings Plan (TSP), and Social Security.

When can I retire with a full annuity?

You can retire with no reduction at any of these points (OPM: eligibility):

• Your Minimum Retirement Age (MRA) with 30 years of service
• Age 60 with 20 years
• Age 62 with 5 years

You can also retire at your MRA with 10 to 29 years. That's called MRA+10, and your annuity is cut by 5% for each year you're under 62 (exactly 5/12 of 1% for each full month). If you have 20 or more years, the cut goes away once you're 60. You can avoid the cut by putting off the start of your annuity (OPM: computation).

What is my Minimum Retirement Age?

Source: OPM: FERS eligibility and 5 U.S.C. 8412(h).

How is the annuity figured?

Your annuity is your high-3 (your highest average basic pay over three years in a row) times your years of service times a multiplier:

• 1% for each year of service in most cases.
• 1.1% if you retire at 62 or older with at least 20 years. That's a 10% bigger annuity.
• Law enforcement officers, firefighters and air traffic controllers retiring under special provisions get 1.7% for each of the first 20 years and 1% for each year after.

Example: a high-3 of $95,000 with 25 years at age 60 gives $95,000 × 1% × 25 = $23,750 a year, or about $1,979 a month.

Unused sick leave adds to your service for this calculation, but it doesn't help you reach the years you need to retire. OPM drops any partial month from your total service (5 U.S.C. 8415).

What is the FERS supplement?

If you retire before 62 at MRA with 30 years, at 60 with 20 years, or under special provisions, FERS pays an extra monthly amount until you turn 62. It's meant to stand in for Social Security until you can claim it. It equals your estimated Social Security at 62 times your years of FERS service, divided by 40. People who retire under MRA+10 don't get it. If you work after retiring and earn more than Social Security's yearly limit, the supplement is reduced (5 U.S.C. 8421).

How the TSP grows

Your agency puts in 1% of your pay automatically. It also matches the first 5% you put in: dollar for dollar on the first 3%, and 50 cents on the dollar for the next 2%. If you put in 5%, your agency adds 5%, so 10% of your pay goes into your account (TSP: contributions). For 2026 you can put in up to $24,500, plus $8,000 more if you're 50 or older, or $11,250 more if you turn 60 to 63 this year (TSP Bulletin 25-3).

When you retire, you can take the TSP in monthly installments, single withdrawals, a life annuity, or a mix (TSP: withdrawals in retirement).

Protecting your spouse

A married retiree chooses a survivor benefit. A full survivor annuity costs 10% of your annuity and pays your spouse 50% of your unreduced annuity for life. A partial one costs 5% and pays 25%. Choosing no survivor annuity needs your spouse's written consent (OPM: computation).

Estimates, not advice. Ask your agency's benefits office for an official annuity estimate before you set a date. This page doesn't cover CSRS, military service buyback, part-time service or disability retirement.