Everything about Retirement - Army National Guard

Alternative Annuity Your benefit may be lowered if you chose a lump amount payment equal to your retirement contributions and a minimized monthly annuity, typically called an alternative annuity. Only  Read This -disability annuitants who have a dangerous condition or other vital medical condition can elect this choice. Disability Retirement Calculation FERS impairment advantages are calculated in different ways depending on the annuitant's age and quantity of service at retirement.

FERS Impairment Computation if Age 62 or older at retirement, or Meet the age and service requirements for instant voluntary retirement You receive your "earned" annuity based on the basic 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 instant voluntary retirement 1 percent of your high-3 average salary for each year of service If age 62 or older with 20 or more years of service 1.

FERS Retirement Calculator -Retirement Benefits Institute

What is the FERS Annuity and How Do I Compute Mine? - United Benefits

However, you are entitled to your "earned" annuity, if it is bigger than this amount. After the very first 12 months 40% of your high-3 typical income minus 60% of your Social Security benefit for any month in which you are entitled to Social Security impairment advantages. However, you are entitled to your "made" annuity, if it is larger than this quantity.

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If your actual service, plus the credit for time as an impairment annuitant equates to less than 20 years: 1 percent of your high-3 average income for each year of service If your actual service, plus the credit for time as a disability annuitant equates to 20 or more years: 1. 1 percent of your high-3 average income for each year of service Overall Service used in the calculation will be increased by the amount of time you have received an impairment annuity.

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