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Request for Retirement Estimate Page 1 of 2 Understanding the Request for Retirement Estimate PSRS-151 listed below. Commonwealth of Pennsylvania - Public School Employees Retirement System Mail Center 5 N 5th Street Harrisburg PA 17101-1905 Toll-free 1. See instructions on the reverse side of this form* Member Name Social Security Number Daytime Phone Email Address Evening Phone Address Street City State Zip Provide your current school year s July 1 June 30 salary. PSERS will project your fin ...

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How do I find my estimated Social Security benefit?

If you have a personal my Social Security account, you can get an estimate of your future retirement benefits and see the effects of different retirement age scenarios. If you dont have a personal my Social Security account, create one at .ssa.gov/myaccount.

How much is my government retirement?

Computation Years of ServiceWhat You ReceiveFirst 5 years of service1.5 percent of your high-3 average salary for each yearSecond 5 years of servicePlus 1.75 percent of your high-3 average salary for each yearFor all years of service over 10Plus 2 percent of your high-3 average salary for each year.

How much is a federal pension after 20 years?

Generally, your FERS benefit is 1% of your high-3 average salary multiplied by your years and months of service. If you were at least age 62 at separation and had at least 20 years of service, your annuity is 1.1% of your high-3 average salary multiplied by your years and months of service.

How does the government calculate retirement benefits?

Social Security benefits are typically computed using average indexed monthly earnings. This average summarizes up to 35 years of a workers indexed earnings. We apply a formula to this average to compute the primary insurance amount (PIA). The PIA is the basis for the benefits that are paid to an individual.

What is a high-3 average salary?

Your high-3 average pay is the highest average basic pay you earned during any 3 consecutive years of service. These three years are usually your final three years of service, but can be an earlier period, if your basic pay was higher during that period. Your basic pay is the basic salary you earn for your position.

How do I know how much retirement I will get?

You can use Social Securitys benefit calculators to: Estimate your retirement benefits based on when you would begin receiving them (from age 62 to 70) Calculate what payments you would receive based on your earning history.

How do I calculate my government retirement?

The FERS retirement calculation is based on your creditable service and your high-3 salary. Those two factors are multiplied by a factor that varies from 1% to 1.7%, and which factor you use depends on your creditable service and age at retirement, as well as which agency you worked for within the Federal Government.

How do I calculate my federal retirement amount?

FERS (Immediate or Early) Generally, the benefit is calculated as 1 percent of high-3 average pay multiplied by years of creditable service. For those retiring at age 62 or later with at least 20 years of service, a factor of 1.1 percent is used rather than 1 percent.

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How do I know how much retirement I will get?

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Get the up-to-date request retirement estimate 2024 now

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How to quickly redact Request retirement estimate online

See more request retirement estimate versions

Complete this form in 5 minutes or less

Got questions?

How do I find my estimated Social Security benefit?

How much is my government retirement?

How much is a federal pension after 20 years?

How does the government calculate retirement benefits?

What is a high-3 average salary?

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How do I know how much retirement I will get?

How do I calculate my government retirement?

How do I calculate my federal retirement amount?

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