U.S. Office of Personnel Management
FERS Election Opportunities

Federal Employees Retirement System (An Overview of Your Benefits)

Overview

The Federal Employees Retirement System, or FERS, became effective January 1, 1987. Almost all new employees hired after December 31, 1983, are automatically covered by FERS. Certain other Federal employees not covered by FERS have the option to transfer into the plan. The Components FERS is a three-tiered retirement plan. The three components are:

You pay full Social Security taxes and a small contribution to the Basic Benefit Plan. In addition, your agency puts an amount equal to 1% of your basic pay each pay period into your Thrift Savings Plan (TSP) account. You are able to make tax-deferred contributions to the TSP and a portion is matched by the Government.

The three components of FERS work together to give you a strong financial foundation for your retirement years.

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Updated 14 May 1998