Transcription of FERS
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FERS
Federal Employees Retirement System(An Overview of Your Benefits)Insurance ServicePersonnel Management fers RI 90-1 Revised April 1998 Retirement and United States Office of Previous edition is usable. Federal Employees Retirement System (An Overview of Your Benefits) This booklet contains highlights of the Federal Employees Retirement System ( fers ). It is not meant to provide a detailed explanation of all the plan provisions. The information is based on the law in effect at the time the booklet went to publication. Under the Balanced Budget Act of 1997, Public Law 105-33 for fiscal year 1998, employee retirement contributions will increase as follows. Deductions for the Civil Service Retirement System and the Federal Employees Retirement System would be increased by in January 1999, by an additional in January 2000, and by more in January 2001, for a total increase of These higher contribution rates would be in effect through 2002.
be affected by the Windfall Elimination Provision. If you transferred to FERS and do not complete 5 years of service under FERS, any spousal benefit you are entitled to under Social Security may be reduced because of the Govern ment Pension Offset. If you think either of these provisions may affect your benefits, ask your servicing personnel
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