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FERS & TSP Calculator — Federal Pension + Thrift Savings Plan

Estimate your FERS annual pension and project your TSP balance growth with agency matching. For federal employees planning retirement.

Estimated Annual FERS Pension (1.0% multiplier)
$21,250/year
≈$1,771/month

FERS pension = High-3 Salary × Years of Service × Multiplier (1.0%, or 1.1% if retiring at 62+ with 20+ years). TSP agency match: dollar-for-dollar on the first 3% you contribute, $0.50 per dollar on the next 2%, plus a 1% automatic contribution regardless of your own contribution — capped at 5% total agency contribution once you contribute 5% yourself. Contributing beyond 5% still grows your own balance but doesn't increase the match. Estimates only — actual pension and TSP rules have additional provisions (survivor benefits, FERS supplement, contribution limits) not modeled here.
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Reference Values

Last verified:
Category Range What It Means Status
Standard FERS multiplier 1.0% per year of service Applies to most retirements — annual pension = High-3 salary × years of service × 1.0%. Good
Enhanced FERS multiplier ★ 1.1% per year of service Applies only if you retire at age 62 or later with at least 20 years of creditable service. ★ Best
TSP agency automatic contribution 1% of salary Paid by your agency regardless of whether you contribute anything yourself. Good
TSP agency matching (first 3% you contribute) ★ Dollar-for-dollar (100%) Contribute 3% of salary, agency adds another 3%. ★ Best
TSP agency matching (next 2% you contribute) $0.50 per dollar (50%) Contribute 4–5% of salary, agency adds 50 cents per dollar on this portion. Good
Max total agency contribution ★ 5% (4% match + 1% automatic) Reached once you contribute 5% of salary yourself — contributing beyond 5% grows your own balance faster but doesn't increase the agency match. ★ Best

Source: FERS pension multiplier and TSP matching structure per OPM FERS retirement rules and official TSP.gov contribution-matching guidance.

Worked Examples

Standard FERS Pension

High-3 Salary
$85,000
Years of Service
25
Retirement Age
60
$21,250/year

$85,000 × 25 × 1.0% = $21,250/year (retiring before the enhanced-multiplier age/service threshold).

Enhanced FERS Pension (Age 62+, 20+ Years)

High-3 Salary
$85,000
Years of Service
25
Retirement Age
62
$23,375/year

$85,000 × 25 × 1.1% = $23,375/year — the enhanced 1.1% multiplier applies because retirement is at age 62+ with 20+ years of service.

TSP Growth Over 20 Years

Starting Balance
$20,000
Salary
$70,000
Employee Contribution
5%
Years
20
Annual Return
7%
≈$347,000 projected balance

5% employee contribution ($3,500/yr) plus 5% total agency contribution (4% match + 1% automatic, $3,500/yr) compounding monthly at 7% annual return over 20 years.

How to Use This Calculator

  1. 1

    Choose FERS Pension or TSP Growth

    Two independent calculators — use both to see your full federal retirement picture.

  2. 2

    For FERS: enter High-3 salary, years of service, and retirement age

    The calculator automatically applies the enhanced 1.1% multiplier if you qualify (age 62+, 20+ years).

  3. 3

    For TSP: enter current balance, salary, contribution %, years, and expected return

    Agency matching is calculated automatically based on your contribution percentage.

  4. 4

    Read your estimated results

    FERS shows annual and monthly pension; TSP shows projected balance at retirement with a breakdown of the agency match.

What Each Value Means

FERS Annual Pension ($/year)
Estimated yearly pension benefit, calculated as High-3 average salary × years of service × the applicable multiplier (1.0% or 1.1%).
TSP Projected Balance ($)
Estimated Thrift Savings Plan balance at retirement, including your contributions, agency automatic and matching contributions, and compound investment growth.

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Frequently Asked Questions

What is the FERS pension multiplier and when does it change?
The standard FERS multiplier is 1.0% per year of service. It increases to 1.1% per year — a meaningful boost — if you retire at age 62 or later with at least 20 years of creditable service. Retiring even one day before your 62nd birthday, or with 19 years and 11 months of service, means you get the standard 1.0% rate instead.
How is the TSP agency match calculated?
Your agency contributes 1% of your salary automatically, whether or not you contribute anything. On top of that, it matches your own contributions dollar-for-dollar on the first 3% of salary you contribute, then $0.50 per dollar on the next 2% — for a maximum total agency contribution of 5% (4% match + 1% automatic) once you're contributing 5% yourself. Contributing more than 5% still grows your own balance faster but doesn't increase the agency's contribution.
What is the High-3 salary used in the FERS formula?
It's the average of your highest 3 consecutive years of basic pay — not your final salary, and not including locality pay adjustments beyond what's reflected in basic pay for those specific years. For most federal employees whose salary rose steadily, this ends up being close to (but usually slightly below) their final salary.
Should I max out TSP contributions or just contribute 5% for the full match?
The 5% is the point where you capture the entire employer match — leaving free money on the table by contributing less than 5% rarely makes sense. Beyond 5%, whether to keep contributing up to the IRS annual limit depends on your broader retirement savings goals, tax situation, and other financial priorities — this calculator projects growth at any contribution level so you can compare scenarios.
Does this calculator account for the FERS Special Retirement Supplement?
No — the Special Retirement Supplement (a bridge benefit some FERS retirees get between retirement and age 62, approximating a portion of Social Security) has its own eligibility rules and formula not modeled here. This calculator estimates the core FERS pension and TSP balance only; consult your agency's HR/benefits office or a federal retirement specialist for a complete picture including survivor benefits, the supplement, and TSP withdrawal tax rules.