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1. Overview of FERS and Types of Retirement - 1105 Media

YOUR fers Retirement 1. Overview of fers and Types of Retirement The Federal Employees Retirement system ( fers ) is the newer of the two Retirement systems that cover many federal and Postal Service (USPS) employees. Most of these employees began working for the federal government or USPS after Jan. 1, 1984. Some employees covered by the Civil Service Retirement system (CSRS), the older of the two Retirement systems, voluntarily elected to transfer to fers during one of the fers open seasons in 1987 and 1998. fers is categorized as a federal government-sponsored defined benefit Retirement plan. As such, an employee who retires under fers will never outlive his or her fers basic annuity. And if the annuitant has elected a survivor annuity, the survivor annuitant will never outlive the survivor portion of the annuity. On Oct. 28, 2009, the National Defense Authorization Act (NDAA) was passed into law.

YOUR FERS RETIREMENT 4 1. Overview of FERS and Types of Retirement The Federal Employees Retirement System (FERS) is the newer of the two retirement systems that cover many

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