“Isn’t all of the govt under fers? Which is not a defined benefit plan.”
You are right. FERS is a defined contribution plan. I too assumed that pretty much the entire Federal workforce is under FERS. Postal workers and some others may be treated differently.
The Tennessee Valley Authority, a federal entity, has its own retirement system, the TVARS. Which is grossly underfunded like most government pension programs. But it is not subject to the same rules that dictate funding levels for the pension plans in the private sector so they get away with it.
Yes, FERS has a defined contribution (i.e., 401K plan) element. But in addition to this they also have a traditional pension plan which includes regular Cost of Living increases.
Postal workers are under FERS. And they are under the Thrift savings plan.
Employees who started before 1984 can still be CSRS plan, instead of the newer FERS.