WebWelcome to the Department of Defense High-3 Calculator. This calculator is designed to assist Service members in projecting their pension under the High-3 retirement plan. Web1.7% of your high-3 average salary multiplied by your years of service as a Member of Congress or Congressional Employee which do not exceed 20, PLUS 1% of your high-3 average salary multiplied by your years of other service Transferred to the Federal …
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WebJul 10, 2014 · High-3 is determined according to your “basic pay.” That includes: * locality pay, including any portion of non-foreign cost-of-living adjustments that has been … WebJul 26, 2024 · While the three years that make up your high-3 have to be consecutive, they don’t have to be continuous. As a result, two or more periods of service can be joined … rick wakeman progarchives
How to Calculate Your High 3 Salary for Federal Retirement
WebYour "high-3" average pay is the highest average basic pay you earned during any 3 consecutive years of service. Generally, your basic annuity cannot be more than 80 percent of your "high-3" average pay, unless the amount over 80 percent is due to crediting your unused sick leave. WebYour High-3 calculation is based off of your “Basic Pay.” As a Federal Employee, basic pay includes: Base salary, Shift rates, and Locality Pay It is important for Federal Employees who are calculating their High-3 to remember that calculating High-3 will NOT include, Cost of Living Adjustments (COLA) Bonuses Allowances Holiday pay Military pay WebThe Federal Employees Retirement System (FERS) was established by Public Law 99-335 in Chapter 84 of title 5, U.S. Code and effective January 1, 1987. Most new Federal employees hired after December 31, 1983 are automatically covered by FERS. Certain other Federal employees not covered by FERS have the option to transfer into the plan. rick wakeman setlist 2022