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Social Security Strategies
- Thread starter SkyPilot
- Start date
SkyPilot
Well-known member
For FLEO, ATC and Fire Fighters
Special Retirement Supplement (FERS Supplement)
Does the Special Supplement approximate the amount of Social Security I will get at age 62?
No. The Special Supplement approximates the portion of an estimated Social Security benefit that you would earn during civilian service that is creditable toward the FERS portion of your annuity. Since the formula for the Special Supplement assumes a working life of 40 years, each year of FERS service is worth one-fortieth of the estimated Social Security benefit.
Therefore, you can take the SS calculator estimate and divide years of FERS service by 40... in my case, it will be 20 divided by 40, thus my FERS supplement will be half ( .5) of what I would be projected to get at age 62.
My question is this: Does the projection factor inflation and COLA for age 62? This is important to know as the Special Supplement does not allow for them.
Special Retirement Supplement (FERS Supplement)
Does the Special Supplement approximate the amount of Social Security I will get at age 62?
No. The Special Supplement approximates the portion of an estimated Social Security benefit that you would earn during civilian service that is creditable toward the FERS portion of your annuity. Since the formula for the Special Supplement assumes a working life of 40 years, each year of FERS service is worth one-fortieth of the estimated Social Security benefit.
Therefore, you can take the SS calculator estimate and divide years of FERS service by 40... in my case, it will be 20 divided by 40, thus my FERS supplement will be half ( .5) of what I would be projected to get at age 62.
My question is this: Does the projection factor inflation and COLA for age 62? This is important to know as the Special Supplement does not allow for them.
Last edited:
SkyPilot
Well-known member
Check out this useful calculator... Social Security Calculator
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