Name of the Organization : U.S. Office of Personnel Management
Type of Facility : Federal Employees Retirement System (FERS)
Country : United States of America (USA)
Website : http://www.opm.gov/retirement-services/fers-information/
OPM Federal Employees Retirement System
Congress created the Federal Employees Retirement System (FERS) in 1986, and it became effective on January 1, 1987. Since that time, new Federal civilian employees who have retirement coverage are covered by FERS.
Related : Office of Personnel Management e-QIP Electronic Questionnaires For Investigations Processing USA : www.statusin.org/8248.html
FERS is a retirement plan that provides benefits from three different sources: a Basic Benefit Plan, Social Security and the Thrift Savings Plan (TSP). 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.
The Basic Benefit and Social Security parts of FERS require you to pay your share each pay period. Your agency withholds the cost of the Basic Benefit and Social Security from your pay as payroll deductions. Your agency pays its part too. Then, after you retire, you receive annuity payments each month for the rest of your life.
The TSP part of FERS is an account that your agency automatically sets up for you. Each pay period your agency deposits into your account amount equal to 1% of the basic pay you earn for the pay period. You can also make your own contributions to your TSP account and your agency will also make a matching contribution. These contributions are tax-deferred. The Thrift Savings Plan is administered by the Federal Retirement Thrift Investment Board.
Eligibility:
Eligibility is determined by your age and number of years of creditable service. In some cases, you must have reached the Minimum Retirement Age (MRA) to receive retirement benefits. Use the following chart to figure your Minimum Retirement Age
Special Requirements:
You must have become disabled, while employed in a position subject to FERS, because of a disease or injury, for useful and efficient service in your current position. The disability must be expected to last at least one year.
Your agency must certify that it is unable to accommodate your disabling medical condition in your present position and that it has considered you for any vacant position in the same agency at the same grade/pay level, within the same commuting area, for which you are qualified for reassignment.
Types of Retirement:
OPM works with your Agency’s personnel and payroll office to process your annuity claim. Regardless of the type of retirement, there are actions your personnel office must take in order to process your retirement claim.
You can help reduce delays in processing by submitting your application in advance and by making sure your Official Personnel Folder (OPF) is complete. If you submit your paperwork early, your personnel and payroll offices will be able to complete their action before your retirement date.
Disability:
Considerations when applying for disability retirement.
Early Retirement:
Early retirement outlines Minimum Retirement Age (MRA) and annuity computations as well as Discontinued Service.
Voluntary Retirement:
Voluntary Retirement eligibility is based on your age and the number of years of creditable service and any other special requirements.
Deferred Retirement:
If you are a former Federal employee who was covered by the Federal Employees Retirement System (FERS), you may be eligible for a deferred annuity at age 62 or the Minimum Retirement Age (MRA).
Survivors :
When a Federal employee dies, monthly or lump sum benefits may be payable to survivors. Learn about these Survivor benefits here.
Military Retired Pay :
Adding military service to your civilian service
Service Credit :
Payment to increase your annuity for civilian service when no CSRS retirement deductions were withheld or were refunded or for military service after 1956.
Former Employees :
Options if you leave your Government job before becoming eligible for retirement.