What is the Federal Ballpark E$timate for retirement?

The following is a question submitted by a Federal Times readers about retirement and other issues facing the federal workforce. It is answered by Reg Jones, a charter member of the senior executive service and a Federal Times columnist since 1995.

Question: A couple years ago I was told there is a specific form to request to have OPM give you a retirement estimate. I was told that is the best way to do it and that a lot of HR departments do no like to do it because it is time consuming. I cannot remember what the form was. I want to request a retirement estimate to see where I stand. I did get one from my agency but it was not as involved as the one I was told to get from OPM. Any idea how to do that or what the form is?

Reg’s Response: To get an estimate of what your retirement benefit would be, use the FEDERAL BALLPARK E$TIMATE found at https://www.opm.gov/retirement-services/calculators/federal-ball-park-estimator/index.html#url=Assumptiomsm

NOTE: The Federal Ballpark E$timate was developed by the Employee Benefit Research Institute and its American Savings Education Council program. It’s based upon the interactive version of the their Ballpark E$timate worksheet.

RELATED

Last caIl! Less than a week left to elect FEHB 2023 health benefits

As you’re making lists for Thanksgiving groceries and holiday gifts, don’t forget the shopping spree that ends Dec. 12.

By Molly Weisner

Got a question for the Federal Times expert?

Send inquiries to: fedexperts@federaltimes.com.

Reg Jones is the resident expert on retirement and the federal government at Federal Times. From 1979 until 1995, he served as an assistant director of the U.S. Office of Personnel Management handling recruiting and examining, white and blue collar pay, retirement, insurance and other issues. Opinions expressed are his own.

In Other News

Opinion

How Unified Attack Surface Management future proofs fed cyberspace

The threat landscape has evolved far beyond the capability of traditional perimeter-based cyber defenses to contain.

Here’s how the US could rush weapons to Ukraine, if Congress acts

The legislation would include more than $20 billion to restock the Pentagon’s shelves and ensure that the military services have what they need.

Ask Reg: How does my Social Security income affect my pension?

How your Social Security and federal pension intersect.

Opinion

Know your customer – as long as it’s not China

A proposed 'Know Your Customer' rule seeks to stop adversaries from getting their hands on advanced U.S. cloud and AI technologies.

VA to largely end animal testing on dogs, cats within two years

The Department of Veterans Affairs is slated to largely end testing on dogs, cats and nonhuman primates within the next two years.

Load More