A Thrift Savings Plan (TSP) annuity provides income in the form of monthly payments for as long as you - and your joint annuitant, if you elect an annuity with survivor benefits - are alive. The TSP C-Fund which approximates the S&P 500, has had an average annual 9.55 percent gain between 1988 and 2010; the TSP F-Fund, a broad index representing the U.S. bond market, has had an average annual 7.09 percent from1988 to 2010; and the G-fund, long term U.S. Treasury notes, has had an average annual of 5.93 percent gain from 1987 to 2010. All Rights Reserved.

This calculator takes into account your current age, savings till date and current salary along with certain economic and personal assumptions to calculate how much you should save each year, starting this year until you retire, to enable you to maintain your desired standard of living during retirement. If you do not know if this applies to you, contact your human resource office.

you what percent over or short you will be from your desired retirement

retirement.

OPM’s Human Resources Solutions organization can help your agency answer this critically important question.

The amount of money from your retirement benefits (e.g.

The Federal Ballpark Estimate is for Federal employees covered by the Civil Service Retirement System (CSRS) or CSRS-Offset, or the Federal Employees Retirement System (FERS). Any income you make at a job after retirement should be counted in this category. Another rule of thumb says that you will need 70 – 80% of your pre-retirement annual salary to live comfortably during retirement. Projected income should meet or exceed your expenses. See the full disclosure, Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Pinterest (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to email this to a friend (Opens in new window). If you are using assistive technology to view web content, please ensure your settings allow for the page content to update after initial load (this is sometimes called "forms mode").

For more in-depth planning, you may want to consult a financial advisor or your agency’s or service’s retirement or benefits counselor, visit the Office of Personnel Management website, read books and articles on retirement planning, or use more detailed software to test a variety of assumptions for estimated benefits, expenses, and rates of return. All savings are made at the end of the year. Find out more about federal compensation throughout your career and around the world. The Federal Retirement Thrift Investment, administers the Thrift Savings Plan (TSP).

The Federal Ballpark E$timate

What is the Federal Ballpark E$timate? retirement? It's early in my Federal career, will the Federal Ballpark E$timate help me? document.write(unescape("%3Cscript src='" + gaJsHost + "google-analytics.com/ga.js' type='text/javascript'%3E%3C/script%3E")); Although the TSP annuity interest rate index changes monthly, for purposes of the Federal Ballpark E$timate, we are using the default factor of 3.5% for both the TSP and non-TSP savings calculations.

The calculator was developed by the American Savings Education Council to calculate how much you need to save each year from now until retirement based on your estimates of retirement income and existing savings. CSRS, FERS, Social Security), annuities from TSP and other savings, and any post-retirement earnings you entered are summed over the expected years in retirement. Going through the FERS Retirement Calculator steps above, she would answer Yes to #1, No to #2, and Yes to #3.

To find out how much you need to save for retirement, follow the link to the Federal Ballpark E$timate® calculator below. A modified formula is used to calculate your benefit amount, resulting in a lower Social Security benefit.

This is a pretty good calculator, but it is not one of the best.

Starting in January 2021, we’re making the process easier for participants. best retirement calculators. date (SCD) before 1/1/1987? For purposes of the Federal Ballpark E$timate, enter a number reflecting full years. When determining your goal, you need to think about the type of lifestyle you would like in retirement.

The long term rate of investment return used by the Civil Service Retirement Fund Board of Actuaries is 5.75%.

The Ballpark E$timate is an easy-to-use, two-page worksheet that helps you quickly identify approximately how much you need to save to fund a comfortable retirement. It does not allow you to input the age when you plan to stop working at and its American Savings Education Council® (ASEC®) program . Despite the fates of particular people, means and averages provide useful information for long-term planning. Annual income (dollars) – How much do you earn every year? I'm getting close to retirement...where do I go to get information concerning my retirement? Establishment of the Multi-State Plan Program for the Affordable Insurance Exchanges. The long term rate of General Schedule salary increases used by the Civil Service Retirement Fund Board of Actuaries is 3.75%. The FBE is not an annuity calculator to determine your future retirement benefits.

deferred retirement.

What you expect for the average long-term inflation rate. var pageTracker = _gat._getTracker("UA-2518726-9"); The Federal Ballpark Estimate is an easy-to-use tool that helps you quickly identify whether you have saved enough to have a comfortable retirement. This version of Ballpark requires that JavaScript is enabled. to discuss all of YOUR options. Definition. The maximum "catch-up contribution" in 2012 is $5,500. The FBE is not an annuity calculator to determine your future retirement benefits. Your age when your annuity is purchased (and the age of your spouse or other joint annuitant), The balance in the TSP account used to purchase your annuity, The "interest rate index" when your annuity is purchased, you are fairly young and/or your prime earning years are ahead of you, you do not anticipate owning your home outright when you retire, you have a family history of very long life or medical problems, you would like a retirement lifestyle that is more than comfortable. /* BRC Link Header 728x15, created 7/3/08 */

If you are within 3 years of your planned retirement

.

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