Do you know for how long he served in the Navy?
That was a mistake on my part. He was not in the Navy but was on the staff of two Senators for seven years 1935-1942. That counts as federal service so he has 38 years federal service before selling back sick and unused annual leave. The guy is getting two percent of the average of his top three years times the number of years service adjusted for inflation. Current top grade amount is $162,000. 78% of that is $126,000 or a little better than $10,000 per month.
Assuming no break in service and the seven years working for the Senator and FTC counted towards Civil Service retirement, Felt would have received 76% of his high three. I estimated his high three to be around $45,000, which would give him a pension of $38,000. Estimating an annual COLA of 3.5% over the past 32 years, Felt would have a pension today of $114,255, so your estimate of $10K a month is in the ballpark.
I assume that Felt opted for the survivor benefit for his wife, which would have reduced his annual penison by about 10%. Once she died, the pension would be restored to the full amount. The pension is taxable.
Felt's advancement to Number 2 in the FBI was fairly rapid. Reading is bio I now understand why. He had political connections.
That counts as federal service so he has 38 years federal service before selling back sick and unused annual leave.
You don't sell back sick leave. It gets credited as part of your years of service. The annual level balance is paid at the time of retirement.
The guy is getting two percent of the average of his top three years times the number of years service adjusted for inflation. Current top grade amount is $162,000. 78% of that is $126,000 or a little better than $10,000 per month.
You can use the method you used to get a rough estimate, but that is not the way it is done. The top grade amount today has nothing to do with his pension computations. Rather, you receive your pension based your high three average pay. The pension is then increased each year based on the CPI-W, which is the same computation for Social Security.
A more accurate estimate of his pension, would be to take his intial retirement pension and go year by year with SS COLA annual increases The cap on SES salaries is tied to Congressional pay. Over the years there has been some wage compression at the top.