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Calculating your high-3 for federal retirement depends on whether you worked under the Federal Employees Retirement System (FERS) or if you spent time under other retirement programs.
The basic retirement annuity under FERS is equal to the (Average High-3 Salary x .017 x Years of Service through 20 years)+(High-3 Salary x .01 x Years of Service over 20)= Annual Pension Members who began congressional service before 1984 and who elected to join FERS will receive credit under FERS from January 1, 1984, forward.
The locality pay adjustment is counted as part of the "high-3" salary in calculating Federal Employees Retirement System (FERS) and Civil Service Retirement System (CSRS) annuities, as well as the baseline for individuals having a percentage of salary deducted for deposit into the Thrift Savings Plan.
Most new federal employees hired on or after January 1, 1987, are automatically covered under FERS. Those newly hired and certain employees rehired between January 1, 1984, and December 31, 1986, were automatically converted to coverage under FERS on January 1, 1987; the portion of time under the old system is referred to as "CSRS Offset" and only that portion falls under the CSRS rules.
Having $3 million in your retirement and brokerage accounts is a sizable amount. Even so, it's a big leap to retire and rely on Social Security and your retirement investments to stay afloat.
Saving $3 million for retirement savings is an ambitious goal. Still, depending on what you plug into the calculator (and the plan you put together with a financial advisor), it might be necessary.