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The Federal Employees' Retirement System (FERS) is the retirement system for employees within the United States civil service. FERS [1] became effective January 1, 1987, to replace the Civil Service Retirement System (CSRS) and to conform federal retirement plans in line with those in the private sector. [2]
This new plan was enacted as the Federal Employees' Retirement Act of 1986. This act created the Federal Employees Retirement System (FERS), under which new Members of Congress are currently covered. When the FERS program went into effect, all Members elected in 1984 or later were automatically enrolled in the new plan.
Federal Employees Retirement System - covers approximately 2.44 million full-time civilian employees (as of Dec 2005). [2]Retired pay for U.S. Armed Forces retirees is, strictly speaking, not a pension but instead is a form of retainer pay. U.S. military retirees do not vest into a retirement system while they are on active duty; eligibility for non-disability retired pay is solely based upon ...
A new bill has been introduced in Congress that would increase the annual cost of living adjustment (COLA) for retired federal employees under the Federal Employees Retirement System (FERS) in some...
Continue reading ->The post The Federal Employees Retirement System (FERS) appeared first on SmartAsset Blog. There are plenty of retirement plans for workers: 401(k)s and pension plans set up ...
The Federal Employee Return to Work Act and the Federal Employee Locality Accountability in Retirement Act, introduced by Sen. Bill Cassidy (R-La.), would significantly reduce pay and retirement ...
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