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To: perez24
Federal employees enrolled in FERS are NOT under CSRS. Back around 1985, any newly-hired Fed employees had to sign up for FERS--and the ones who were under CSRS were given the option of keeping that retirement plan, or switching to FERS.

At the time, I had 9+ years in ,and opted to stay under CSRS--and took early retirment about 20 years later. But a lot of my fellow emplyees--back in '85--chose to switch to FERS. All of us, however, were given the opportunity to sign up for TSP--which is separate entity that ALL government employees MAY opt into, and thereby set aside allotments which are basically investments in stocks and bonds--low and high risk.

Until just a few years ago, the returns on those investments netted Federal employess--including Congress critters--a nice little nest egg! But you NEVER hear any Democrat mention TSP--because it reveals what hypocrites they are when they bash Repubs who dare to talk about "privatizing Social Security".

It does not suprise me that FERS is in trouble--just like PERS is in so many states. Am not sure, tho, about what's going on with CSRS--since it's been 20 years since any Fed employee could sign up for that plan. I'm sure the number of retirees still under it are diminishing at a rapid rate, unlike those under FERS. Whatever happens in the future, the Pubs better get serious about cutting back "entitlement" spending and convince the American public--including Federal employees--that it's the only way to "save" the golden goose that's been pumping out their precious nest eggs!

18 posted on 10/21/2010 9:21:45 AM PDT by milagro
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To: milagro

P.S.—FERS IS Social Security; the only difference is that Fed employees have the option of investing in a Thrift Savings Plan (TSP) account, and having 5% matched by the Fed. Unless they are under CSRS—and then there’s no matching funds(IIRC). And—as has been mentioned, the Fed pays part of the premiums for the health care plans they offer (and you can be sure those plans will—at least for Congress critters—be EXEMPTED from Obama’s health care plan)!!!!


20 posted on 10/21/2010 9:32:53 AM PDT by milagro
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