Transcription of FERS annuity supplement T
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FERS annuity supplement T
The Postal Record 39 The fers retiree annuity sup-plement is probably the least-understood component of the fers retirement system. Commonly referred to as the fers Social Se-curity supplement , its general pur-pose is to provide a level of income before age 62 similar to what the retiree will receive at age 62 as part of a Social Security benefi supplement is paid by the Offi ce of Personnel Management (OPM), not Social Security. Howev-er, the formula used to compute the supplement is quite different from the formulas used to compute other benefi ts paid by OPM because it is an adaptation of the Social Security benefi ts of the general points regarding the supplement are listed below: It is unique to fers there is no comparable provi-sion under CSRS.
Computation of the FERS annuity supplement is highly complex. In general, a Social Security Primary Insurance Amount (PIA) is computed as if the retiree were age 62 ... For example, if a 59-year-old retiree had 32 years of FERS service, her annuity supplement would be calculated as follows: PIA times 32 divided by 40.
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