Federal Employees Retirement System

Federal Employees Retirement System

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Description

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The Federal Employees Retirement System (FERS) is the current retirement system for employees within the U.S. federal civilian employees. FERS was enacted on June 6, 1986 to replace the Civil Service Retirement System (CSRS) and to conform Federal retirement plans in line with those in the private sector. Most new Federal employees hired on or after January 1, 1984, are automatically covered under FERS. Rehired Federal employees who worked prior to December 31, 1983, and have 5 years of civilian service by December 31, 1986, can choose between remaining CSRS or electing FERS within 6 months of rehire. Once an employee is covered by FERS or elects FERS coverage, the employee remains covered by FERS. Employees of Nonappropriated Fund Instrumentalities of the Departments of Defense and Homeland Security participate in a separate retirement system, except when retaining previous coverage under a different retirement system following a transfer.show more

Product details

  • Paperback | 56 pages
  • 152 x 229 x 3mm | 95g
  • Flu Press
  • United States
  • English
  • 6135862081
  • 9786135862089