Immediate Retirement

What is an Immediate Retirement under FERS? The Immediate Retirement under FERS is the main way of qualifying for the pension.  Sometimes it’s referred to as the full, normal, or voluntary retirement under FERS.    The Immediate Retirement sets the requirements for how to qualify for the pension immediately upon retiring without incurring a penalty […]

Postponed Retirement

What is a Postponed Retirement under FERS? A Postponed Retirement is another alternative option of federal retirement that is similar to the Deferred Retirement option.  Both options are for those who do not meet both the age and/or the years of service requirements to qualify for the Immediate Retirement under FERS.  The Postponed Retirement is […]

FERS Benefit Formula

How is my benefit calculated? In order to calculate your FERS pension, you will need to know your creditable years of service as well as your “High-3” average salary.  Your creditable years of service include the years, months, and days rounded down to the nearest month of how long you’ve been working as a federal […]

Ep #20: Phase of Retirement – The Year of Retirement

the year of retirement

When it comes to your retirement, it can be a very stressful time—or it can be a very smooth transition. It really comes down to what planning you have put in place to set yourself up for success. In this episode, Micah and Tammy will be sharing the practices you must have in place the […]

Creditable Service

Creditable Service

What is a Creditable Service? Simply put, the Creditable Service is the amount of time a federal employee has worked for the federal government that counts towards their retirement, or FERS. Specifically, this is the sum of the years, months, and days of all civilian time, “bought-back” military time, and any unused sick leave rounded […]

FERS Terminology

FERS Retirement Information The Federal Employee Retirement System (FERS) is one of the most comprehensive (and sometimes complicated!) retirement programs to navigate. Your benefits as a FERS Employee are PACKED full of opportunities for retirement income planning, investing, health care, life insurance, long-term care insurance, survival benefits, and more! It can be a lot to […]

Voluntary Contribution Program

What is the Voluntary Contribution Program? The Voluntary Contribution Program was developed for employees who are part of the Civil Service Retirement System (CSRS). It allows those employees to contribute their own money into an account which can later be used to increase their annuity they receive when they choose to retire. Contributions are not […]

Types of FERS Retirement

What is the difference between an Immediate Retirement and an Early Retirement? Let’s first define what an Immediate Retirement is, and what you need to do in order to qualify for it. Like the name suggests, an immediate retirement would mean that upon retirement, you immediately take the annuity, AKA the pension. Not everyone is […]

Special Retirement Supplement

What is the Special Retirement Supplement? FERS consists of 3 different components: the FERS annuity (pension), Social Security, and the Thrift Savings Plan (TSP). The Special Retirement Supplement (SRS), AKA the FERS Supplement, was designed for federal employees who retire before they can start taking out from Social Security, which is age 62. It is […]

Minimum Retirement Age (MRA)

What is my Minimum Retirement Age (MRA)? Your MRA is what FERS uses to determine when a person is eligible to receive their annuity, or as we like to call it, their pension. A person can work and retire earlier than their MRA, but they have to at least wait until their MRA to receive […]

Military Buyback Program

What is the Military Buyback Program? The Military Buyback Program is a program for veterans to retroactively “buy back” their time spent in the military where they weren’t contributing to FERS or CSRS, or if they had received a refund of their retirement contributions. The purpose of buying back this time is so that they […]

How to apply for FERS Supplement

Where do I apply? You’ve finally decided it’s time to retire. Maybe this day came sooner than expected, or maybe it couldn’t come soon enough. You’ve heard about the supplemental income given to FERS retirees who retire with enough creditable service before 62 to bridge the gap between retirement and being eligible for Social Security. […]

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