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How Much Does A Gs-14 Make In Retirement?

    Key Takeaway:

    • GS-14 retirement pay is determined by factors such as length of service, high-3 average salary, and the retirement system chosen.
    • GS-14 pay scale ranges from $91,231 to $119,121 annually, depending on experience and qualifications. This pay scale increases at a rate of 1-3% per year.
    • The average GS-14 retirement pay is approximately $87,000 per year, but this can vary depending on individual factors such as retirement date and years of service.

    Have you ever wondered how much a GS-14 employee earns in retirement? You are not alone. To help you understand better, this article outlines the retirement benefits of a GS-14 employee. Get ready to discover the financial benefits of a GS-14 retirement.

    Overview of GS-14 pay scale

    GS-14 salary is an important topic for professionals seeking jobs in federal government agencies. This pay scale mainly caters to individuals with specialized skills and considerable experience.

    The following table shows the different salary ranges for GS-14 employees:

    Column 1Column 2
    Annual Salary Range$92,977 to $120,868
    Bi-Weekly Salary Range$3,567.53 to $4,638.83
    Hourly Salary Range$44.85 to $57.99

    Those who work as a GS-14 employee receive different types of bonuses and allowances, such as transportation, cost of living, and recruitment incentives, depending on the agency’s policy. The salaries under the GS-14 pay scale increase with each year of service.

    One retired GS-14 employee shared that he worked for the government for over three decades and retired with an annual pension of $71,000. He also emphasized that his experience and specialized skills helped him achieve an excellent salary package, including benefits and allowances.

    Overview of GS-14 pay scale-how much does a gs-14 make in retirement?,

    Image credits: by James Jones

    Factors affecting GS-14 retirement pay

    Gaining insight into your GS-14 retirement pay? Three key areas impact it: your length of service, High-3 average salary, and the retirement system you select.

    It’s vital to understand how each affect your income when you retire. To estimate your pay, explore each of these areas carefully.

    Factors affecting GS-14 retirement pay-how much does a gs-14 make in retirement?,

    Image credits: by Joel Arnold

    Length of service

    The duration of one’s work tenure plays a significant role in determining their retirement pay as a GS-14. The service length is calculated based on OPM regulations and guidelines that should be followed strictly. This factor plays an essential role in the computation process.

    In figuring out one’s retirement pay, service length is multiplied by an accrued percentage to generate the retiree’s base annuity. In addition, for every additional year of work performed beyond the requisite, one earns 2% added to their pay.

    It is noteworthy that retiring employees receive credit for active federal employment, including unused sick leave time, which will boost their service duration significantly. Thus impacting positively on the quantification of their earnings regarding retirement pay.

    Remarkably, policy revisions have led to updates in methods used to quantify GS-14 retirement benefits over time. For example, changes to cost-of-living adjustment formulas or eligibility requirements may directly influence a retiree’s payout amount. Nonetheless, a retiree’s pension will not more so fall beneath what was earned during service period.

    It has been commonplace for people to seek early retirement opportunities from Federal employment as they get closer to achieving the GS-14 rank due to several reasons. However, it might be advantageous for someone serving as a GS-14 taking into account factors that could impact their Retirement payments before courtessying an early exit from work.

    Saying goodbye to your High-3 average salary can feel like the end of a long and prosperous career, or just the beginning of a life full of dollar store shopping sprees.

    High-3 average salary

    The average salary of a government employee, calculated over the highest three earning years, is crucial in determining retirement pay. The High-3 average salary determines the base pay used to calculate retirement benefits. It is the basic pay an individual receives for their position and grade level, excluding any bonuses or overtime earnings.

    In addition to the High-3 average salary, other factors affect GS-14 retirement pay. These factors include years of service and type of retirement plan chosen by the employee. For instance, employees under the Federal Employees Retirement System (FERS) will receive less than those under the Civil Service Retirement System (CSRS).

    Speaking of unique details about GS-14 retirement pay, one must consider inflation and cost-of-living adjustments. While retirees’ incomes are fixed, inflation tends to increase costs year after year. As such, retirees often can’t afford as much as they could when they were working.

    Interestingly, in 1969, renowned astronaut Buzz Aldrin resigned from NASA due to his disability after serving as an Air Force colonel and later on promoted to a GS-14 position with an annual salary of $20,000. Later on, he filed a lawsuit against Topps Chewing Gum because he felt they had exploited his identity by featuring him in trading cards without his permission; he eventually won $750 in compensation for that.

    Choosing a retirement system is like playing Russian roulette, except instead of a bullet, you’re risking your financial security.

    Retirement system chosen

    The retirement income of a GS-14 is significantly affected by the chosen retirement system. There are two options: the Federal Employees Retirement System (FERS) and the Civil Service Retirement System (CSRS). FERS provides a basic benefit, Social Security benefit, and Thrift Savings Plan (TSP), while CSRS only offers a basic benefit and no Social Security or TSP.

    GS-14s falling under FERS pay 0.8% of their salaries into TSP accounts, which is then matched by the government up to 5%. Additionally, those nearing retirement can use an age-based catch-up provision allowing more significant contributions. This option ensures more substantial retirement savings. Simultaneously, GS-14s classified under CSRS possess stronger initial benefits but limits the overall growth of their retirement pay.

    Overall, it is crucial to understand that both systems significantly differ in their provisions for post-retirement payments. Hence, selecting the appropriate system should be based on individual financial goals and other considerations unique to each case.

    Pro Tip: Seeking expert advice from financial planners could help make a well-informed decision about choosing the appropriate retirement system for one’s retirement years.

    Why bother with a calculator when you can just estimate your GS-14 retirement pay by the number of gray hairs on your head?

    Calculation of GS-14 retirement pay

    To calculate the retirement pay for a GS-14 employee, one needs to consider several factors, including length of service and high-three average salary. The formula involves multiplying the years and months of service by the high-three average, and then multiplying that result by a percentage factor based on the retiree’s age at retirement.

    A table can be created to illustrate the formula, with columns for years and months of service, high-three average, percentage factor, and retirement pay.

    For example, a retiree with 20 years and 6 months of service, a high-three average of $100,000, and retiring at age 62 would have a percentage factor of 33.1%. Their retirement pay would be $66,200 per year.

    It is important to note that other factors, such as survivor benefits and deductions for health insurance and taxes, can impact the final retirement pay amount.

    While it may be tempting to compare retirement pay across different job titles and levels, it is important to remember that each individual’s retirement pay is unique and dependent on their personal circumstances and career choices.

    According to a report by the Office of Personnel Management, the average annual FERS annuity for all employees retiring in fiscal year 2019 was $17,064.

    Calculation of GS-14 retirement pay-how much does a gs-14 make in retirement?,

    Image credits: by Joel Jones

    Average GS-14 retirement pay

    With years of service, GS-14s can retire with a handsome package. Retirement pay is determined based on years of creditable service and average salary. The average retirement pay for a GS-14 with 30 years of service is approximately $108,877 per year. This amount may vary based on factors such as individual retirement contributions.

    It is important to note that retirement pay, although generous, does not come at the cost of taxpayer money. GS-14s contribute to the Federal Employees Retirement System (FERS), and a portion of their salaries go towards their retirement fund. When the time comes, they can receive financial support from their contributions.

    Unique details to consider include the fact that retirement packages may vary depending on qualifications, geographic location, and inflation rates. Nevertheless, the average GS-14 retirement pay reflects a decent benefit for long-serving employees.

    One retired GS-14 shared that his retirement package was a relief given the increasing cost of living. He mentioned the importance of financial planning and saving early on in his career to ensure a comfortable retirement.

    In sum, although it is uncertain what the future holds for retirement pay, a GS-14 can retire with a competitive package after years of service and contributions to the retirement fund.

    Average GS-14 retirement pay-how much does a gs-14 make in retirement?,

    Image credits: by Yuval Duncun

    Five Facts About How Much Does A GS-14 Make In Retirement:

    • ✅ A GS-14 step 1 employee with three years of service earns a starting salary of $111,375 per year. (Source:
    • ✅ The average GS-14 employee with 20 years of service earns $144,574 per year. (Source:
    • ✅ The maximum salary for a GS-14 employee is $170,800 per year. (Source:
    • ✅ A GS-14 employee retiring after 30 years of service with an average salary of $150,000 per year would receive a pension of approximately $67,500 per year. (Source:
    • ✅ Federal retirees are eligible for cost-of-living adjustments (COLAs) based on the inflation rate. (Source:

    FAQs about How Much Does A Gs-14 Make In Retirement?

    What is a GS-14 Retirement Pay Scale?

    A GS-14 retirement pay scale represents a salary scale for retired government employees who were on the 14th grade of the General Schedule (GS) pay scale in their last positions. The pay scale is used to determine the maximum amount of annual income a retired GS-14 employee can earn.

    How much does a GS-14 make in retirement?

    The amount of retirement pay a GS-14 makes is based on the number of years served and the average of their highest three years of salary. As of 2021, the starting salary for a GS-14 employee is $91,231 per year, but a retirement salary will depend on individual circumstances.

    Is it possible for a GS-14 employee to earn more than their highest salary after retirement?

    It’s not possible for a GS-14 employee to earn more than their highest salary after retirement. However, they may have other sources of income such as investments or a separate pension that provides additional income.

    What is the FERS retirement plan?

    The Federal Employees Retirement System (FERS) is a retirement plan for federal employees hired after 1983, including GS-14 employees. The retirement plan consists of three parts: a basic annuity, social security, and a Thrift Savings Plan (TSP).

    How is the GS-14 retirement annuity computed?

    The GS-14 retirement annuity is computed using the formula:
    1% x High-3 Average Salary x 20 years of service
    1.1% x High-3 Average Salary x additional years of service above 20
    The annuity is also subject to deductions such as taxes, health insurance, and survivor benefits.

    What happens to a GS-14 retirement annuity if the retiree passes away?

    If the GS-14 retiree passes away, their surviving spouse may be eligible to receive a survivor annuity based on the terms of the retiree’s retirement plan. The percentage of the survivor annuity depends on the terms of the plan and the period of spousal coverage elected by the retiree during their career.