


Service Requirements for Unreduced Benefits MRA = Minimum Retirement Age Year of Birth What creditable service does FERS include? What are my retirement options within FERS? The Thrift Savings Plan is administered by the Federal Retirement Thrift Investment Board. You can also make your own contributions to your TSP account and your agency will also make an additional matching contribution up to 4%. Each pay period your agency deposits into your account amount equal to 1% of the basic pay you earn for the pay period. The TSP part of FERS is an account that your agency automatically sets up for you. Then, after you retire, you receive annuity payments each month for the rest of your life. Your agency withholds the cost of the Basic Benefit and Social Security from your pay as payroll deductions. The Basic Benefit and Social Security parts of FERS require you to pay your share each pay period. Two of the three parts of FERS (Social Security and the TSP) can go with you to your next job if you leave the Federal Government before retirement. Since that time, new Federal civilian employees who have retirement coverage are covered by FERS.įERS is a retirement plan that provides benefits from three different sources: a Basic Benefit Plan, Social Security and the Thrift Savings Plan (TSP).

Congress created the Federal Employees Retirement System (FERS) in 1986, and it became effective on January 1, 1987.
