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Overview:
Your DoD retirement benefits come from one of two programs, depending on when you began your service in government:
Federal Employees Retirement System (FERS)
In most cases, if you were hired in a covered position after 1987, your DoD retirement benefits are administered under FERS. FERS employees receive benefits from three components:
While FERS provides you with a monthly annuity payment after you retire, you’ll probably need additional retirement income. As an employee you can bridge that gap by making regular voluntary contributions to the Thrift Savings Plan (TSP).
To find out more about FERS, determine how much you’ll need to retire, and set up voluntary retirement contributions to the TSP, visit:
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Civil Service Retirement System (CSRS)
If you were hired before 1987, your DoD employment benefits may be administered under CSRS. CSRS provides retirees with monthly annuity payments based on their pay levels and time in service.
As a CSRS participant, you can save for additional retirement income in two ways:
§By contributing up to 10% of your basic pay to a voluntary account if eligible
§By making tax-deferred contributions to the Thrift Savings Plan
To find out how much you can expect per month after you retire or to learn more about voluntary contributions, you can visit:
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