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Federal Employees Retirement System (FERS) Guide: Breaking Barriers Since 1947

This guide covers FERS retirement basics, creditable service, military deposits, TSP, and key program links for federal employees. Learn about the three-tiered retirement system, how retirement pay is calculated, and the importance of creditable service and military deposits. Discover how TSP contributions work and access essential program links for managing your benefits efficiently. Have questions? We're here to help break barriers since 1947.

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Federal Employees Retirement System (FERS) Guide: Breaking Barriers Since 1947

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  1. Federal Employees Retirement System(FERS) OO-ALC Retirements/Benefits “Breaking Barriers… Since 1947”

  2. Agenda • Discuss the basics of: • FERS – Federal Employees Retirement System • Creditable Service for Retirement • Military Deposit • Thrift Savings Plan (TSP) • Important Program Links “Breaking Barriers… Since 1947”

  3. Retirement • FERS – Federal Employees Retirement System • Three tiered retirement system • Federal Employment Retirement System (FERS) (monthly annuity for life) • Social Security • Thrift Savings Plan • Annuity or Pension = Retirement Pay “Breaking Barriers… Since 1947”

  4. Example of Retirement Pay • FERS = 1% per year • (Exception) At age 62 with 20 or more years of service; retirement is calculated using 1.1% • (% x High 3 x Years and Months of Service) • Example (Gross for $75k): • FERS Annuity = $1700 at retirement • Social Security = $1300 at age 62 = $3000 • After Insurance and taxes = $2100 • TSP = It’s up to you! The more the better! “Breaking Barriers… Since 1947”

  5. CREDITABLE SERVICE • Non-deduction Service (usually Temporary service) • Federal civilian service where no retirement deductions were withheld. This is also known as FICA service. • If Service was prior to January 1, 1989 • Deposit required for both eligibility and annuity computation • If Service was on or after January 1, 1989 • Not creditable for retirement eligibility or annuity computation • Deposit cannot be made. “Breaking Barriers… Since 1947”

  6. CIVILIAN REDEPOSIT SERVICE • Refunded Service • If you were paying into CSRS or FERS, QUIT and pulled your retirement contributions • Redeposit service if NOT paid • The Time is used for retirement eligibility • Redeposit service if redeposit IS paid • Creditable for Time and Annuity purposes “Breaking Barriers… Since 1947”

  7. Military Deposit • The benefit to paying a few years of Active Duty service is to have that time count towards your Civil Service Retirement Annuity (Title 10 only) • The pay back amount gets more expensive over time due to compounding interest (interest is at variable rate) • Each year you pay back gives you “on average” about $70 to $100 a month more in your annuity check • Example: 4 years of Active Duty could be up to $400 a month more in your FERS Annuity “Breaking Barriers… Since 1947”

  8. Military Deposit • Log into MyPers: https://mypers.af.mil and type “Military Deposit” in the search engine, follow instructions • The process will take 6 months to a yearto find out how much you owe “Breaking Barriers… Since 1947”

  9. Thrift Savings Plan - TSP • TSP Contribution Funds: • G = Government Securities • F = Government Corp and Mortgage-backed Bonds • C = Common Stock (Large/Med Sized Companies) • S = Small Capitalization Stock (Small/Med Sized) • I = International Stock (20 Developed Countries) • L = Life Cycle Funds (Invested in G,F,C,S, and I) • You elect your Contribution amount in: EBIS • You elect your Funds in: TSP.Gov “Breaking Barriers… Since 1947”

  10. Thrift Savings Plan - TSP • TSP Contribution Funds: “Breaking Barriers… Since 1947”

  11. Important Program Links • MyPers: https://mypers.af.mil(Guidance for everything) • EBIS(Changing FEHB, TSP, FEGLI) • https://ww4.afpc.randolph.af.mil/ebisii/login.aspx?poeid=118971120 • MyBiz(Your record past and present) • https://compo.dcpds.cpms.osd.mil/ “Breaking Barriers… Since 1947”

  12. Questions? Breaking Barriers …Since 1947

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