Red Wave Riders
Edited
Based on the statutory formula, the initial annual pension for a member retiring with precisely 5 years vested is $14,790 (8.5% of $174,000). This assumes: High-3 average salary of $174,000.
No prior federal service or military credits.
Unreduced benefit starting at age 62.
This amount would increase over time with cost-of-living adjustments (COLAs), potentially reaching $16,000–$18,000 annually after a decade, depending on inflation. For comparison: With 10 years: ~$29,580 (17% of high-3).
With 20 years: ~$59,160 (34% of high-3, at the 1.7% rate cap).
Note: Pensions are taxpayer-funded, and members contribute ~4.4% of salary toward FERS (plus Social Security taxes). If the member has additional federal service outside Congress, the total could be slightly higher.