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Reply to "Feds: are you counting on FERS for retirement?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m counting on it but it’s not that great, at least compared to the old pension by paying 0.8%. My coworkers that started before 2012 or so get a bigger paycheck than me just bc of that [/quote] Fun fact Obama increased the required contribution for Fed employees. [/quote] Obama did increase to 4.4% contribution from employees but not more since then. There is a significant burden on the Govt to provide pension to all the retirees. [/quote] FERS doesn't replace all income and is significantly less generous than the old Civil Service retirement system. It's meant to be combined with SS and TSP / other IRAs. [/quote]
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