Article Title: Government Jobs vs. Government Contractor Positions-Which is Best?
Snippet of Article: "...The retirement benefits are usually cited as one of the more robust offerings. The Federal Employee Retirement System (FERS) functions as a pension or annuity, providing a defined benefit upon retirement.
The calculation is generally simple. For the FERS Basic Annuity Formula for those who retire at age 62 with at least 20 years of service is 1.1 percent of your average salary over your three-year highest paid period per year of service. That means if you work 30 years, and your highest three-year average is $60,000 per year, your annuity is $19,800 annually or $1,650 per month..."
Source: www.savingadvice.com
