FERS? I think it maybe CSRS as that is a Defined Benefit plan that is in trouble. FERS is a defined Benefit portion of Federal Employee’s who came on board in 1982 and after.. It is a very small portion of entire retirement package for Federal employee’s as the TSP (Thrift Savings Plan) is what funds most of these employees retirement which is similiar to a private sector 401k . Also FERS is only 28 years old, I don’t know many employees who have retired who are FERS employees. However, many employees under CSRS and they are going to be retiring in droves in the next few years and will be insovlent.
“FERS? I think it maybe CSRS as that is a Defined Benefit plan that is in trouble. FERS is a defined Benefit portion of Federal Employee’s who came on board in 1982 and after.. It is a very small portion of entire retirement package for Federal employee’s as the TSP (Thrift Savings Plan) is what funds most of these employees retirement which is similiar to a private sector 401k . Also FERS is only 28 years old, I don’t know many employees who have retired who are FERS employees. However, many employees under CSRS and they are going to be retiring in droves in the next few years and will be insovlent.”
You are misinformed about FERS. It is part of very lucrative retirement compensation. FERS is entirely unfunded so it is a very big problem. Although FERS is not as generous as CRS, FERS is still a big problem for taxpayers and government workers.