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Money and Finances
Reply to "Fed Retirement Under FERS"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am always surprised at how many FERS employees don't know that they are earning an annuity on top of the TSP. [/quote] Retired fed here. Age 57. 4k annuity the first of every month. Like it or not![/quote] First, I believe your $4K included FERS Supplement. Second, you either had more than 30 years of services or had a very high 3 average salary. Third, you did not elect to have your spouse benefit at 50/50 annuity. Otherwise, you would like get this amount.[/quote] Someone who is already retired at 57 may well be under CSRS, not FERS.[/quote] Yes, now make more sense.[/quote] What is the difference?[/quote] CSRS was much more generous-- you could get 80% of your salary, while FERS is designed to give you about 1/3 of your salary, plus SS and a match for your own retirement contributions in a 401k-type plan (TSP).[/quote]
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