Retirement Income Calculator
See the complete picture of your retirement income from all sources. Designed for air traffic controllers with FERS pension, SRS, and TSP calculations.
Personal Information
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At retirement age 56, you'll have 31 years of ATC service
Social Security
Investment Accounts
Other Income Sources
$/yr
$/yr
$/yr
$/yr
Retirement Goal
$/yr
Your Current Retirement Status
Current ATC Service
5 years
Total Federal Service
5 years
Your MRA
Age 57
Vesting Status
Vested
FERS Vesting Requirements
Your Progress
5 of 5 years - Complete!
You are vested in FERS.
If you leave now, you'll be entitled to a deferred pension at age 62 (or earlier with MRA+10).
What does "vested" mean? After 5 years of creditable federal service, you've earned the right to receive a FERS pension when you reach retirement age, even if you leave federal service early. Without vesting, you can only take a refund of your contributions.
What You'd Get If You Stay
Wait 15 more years for 20 years ATC:
Pension of $51,000/year starting at age 50
Plus SRS of ~$12,000/year until age 62
Total: $63,000/year from age 50-62
Your Options If You Leave Now
Deferred Retirement at Age 62Best Option
Wait until age 62 to start collecting pension
Annual Pension
$7,500/yr
Collection Starts
Age 62 (32 years away)
Multiplier
1.0% (vs 1.7% ATC)
SRS Eligible
No
Cost of Leaving Early
Annual Pension Lost
$43,500/year
Compared to staying until 20 years ATC
Total SRS Lost
$144,000
No SRS if you leave early
Estimated Lifetime Loss
~$1,231,500
Based on 25 years of retirement
Years Until Full Eligibility
15 more years
At age 50 with 20 years ATC
Stay vs Leave Comparison
| If You Leave Now | If You Stay to 20 Years | |
|---|---|---|
| Pension Multiplier | 1.0% | 1.7% (first 20 years) |
| Annual Pension | $7,500 | $51,000 |
| SRS (until 62) | $0/year | $12,000/year |
| Can Collect At | Age 62 (or MRA with penalty) | Age 50 with 20 years |
| FEHB in Retirement | Only if MRA+10 | Yes |
Important Note: Your High-3 salary is frozen at your separation date. Any future raises you would have received won't count toward your pension calculation.
Your Estimated Retirement Income
Ages 56 - 62(with SRS, before Social Security)
$8,842/month
$106,100/year
Age 62+(with Social Security)
$9,292/month
$111,500/year
Should You Retire Early or Work Until 56?
Age 50
25 years of service
FERS Pension$58,500/yr
SRS (until 62)$15,000/yr × 12 yrs
Total SRS Received$180,000
Est. TSP Balance$333,171
Monthly Income (Pre-62)
$7,236
$86,827/year
Age 56
31 years of service
FERS Pension$67,500/yr
SRS (until 62)$18,600/yr × 6 yrs
Total SRS Received$111,600
Est. TSP Balance$500,000
Monthly Income (Pre-62)
$8,842
$106,100/year
Working 6 more years increases your pension by
+$9,000/year (+$750/month)
But retiring early gives you $68,400 more in total SRS payments and 6 extra years of retirement
ATC Retirement Eligibility
You Can Retire
Age 50
15 more years for 20yr rule
You Must Retire
Age 56
In 26 years
Extension Possible
To Age 61
Requires FAA approval
Eligibility Rules: Age 50 + 20 years ATC service, or any age + 25 years ATC service
FERS Pension
$67,500/yr
$5,625/mo
ATC: 31yr @ 1.7%/1% = 45.0%
Special Retirement Supplement
$18,600/yr
$1,550/mo
For 6 years until age 62
TSP Income
$20,000/yr
$1,667/mo
4% of $500,000
Social Security
$24,000/yr
You: $24,000 + Spouse: $0
Starts at age 62
Retirement Income Timeline
Age 56 - 62
$106,100/year$8,842/mo
Pre-Social Security (with SRS)
FERS Pension$67,500
SRS (until 62)$18,600
TSP Withdrawals$20,000
Age 62+
$111,500/year$9,292/mo
With Social Security
FERS Pension$67,500
TSP Withdrawals$20,000
Your Social Security$24,000
Income Surplus
+$6,100/year
Your projected income exceeds your $100,000 goal by $6,100/year.
Retirement Age Comparison
| Retire At | Years of Service | FERS Pension | SRS (total) | Est. TSP Balance | Annual Income* |
|---|---|---|---|---|---|
| Age 50Earliest | 25 years | $58,500/yr $4,875/mo | $180,000 12 yrs × $15,000/yr | $333,171 $13,327/yr income | $86,827 Before age 62 |
| Age 52 | 27 years | $61,500/yr $5,125/mo | $162,000 10 yrs × $16,200/yr | $381,448 $15,258/yr income | $92,958 Before age 62 |
| Age 54 | 29 years | $64,500/yr $5,375/mo | $139,200 8 yrs × $17,400/yr | $436,719 $17,469/yr income | $99,369 Before age 62 |
| Age 56Mandatory | 31 years | $67,500/yr $5,625/mo | $111,600 6 yrs × $18,600/yr | $500,000 $20,000/yr income | $106,100 Before age 62 |
* Annual income shown is for the pre-62 phase (with SRS, before Social Security). Assumes 7% annual TSP growth for scenarios other than your selected retirement age.
Key Insights
- Pension difference: Retiring at 56 vs 50 adds $9,000/year to your pension (6 more years of service)
- SRS tradeoff: Retiring at 50 gives you $180,000 total in SRS payments (12 years × $15,000/yr)
- TSP growth: Waiting until 56 could grow your TSP by $166,829(assuming 7% returns)
About Your Special Retirement Supplement
The SRS bridges your income between ATC retirement and Social Security eligibility at 62.
- SRS is NOT adjusted for cost-of-living (no COLAs)
- SRS is fully taxable as ordinary income
- SRS may be reduced if you have significant earned income
- SRS ends when you turn 62 and can claim Social Security
Calculation: (31 / 40) × $24,000 = $18,600/year
SRS Earnings Test
Good news! ATCs are exempt from earnings test until MRA (age 57)
You can earn unlimited income from work without affecting your SRS until you reach age 57.
What counts toward the limit:
- W-2 wages from any job (including federal contractor work)
- Net self-employment income
What does NOT count (unlimited):
- FERS pension, TSP/IRA/Roth withdrawals
- Rental income (if passive - not managing properties full-time)
- Investment income (dividends, capital gains)
Important Disclaimers
- These calculations are estimates based on your inputs. Actual amounts may vary.
- Social Security estimates should come from your official SSA statement at ssa.gov.
- FERS pension calculations use the 1.7% multiplier for first 20 years and 1.0% thereafter for ATCs.
- The SRS does not receive cost-of-living adjustments and is fully taxable.
- Consult a qualified financial advisor for personalized retirement planning.