1. Federal Civil Service Benefits 2 Systems
Civil Service Retirement System (CSRS)
Employees hired prior to 1/1/1984
No Social Security or Thrift Savings Plan (TSP)
Higher Pension Benefits
Federal Employees Retirement System (FERS)
Employees hired after 1/1/1984
Social Security Benefits
Typically smaller pensions than CSRS

2. Civil Service Retirement System (CSRS)
Federal Civil Service Employees covered under CSRS are entitled to a monthly retirement annuity income as follows:
1: At age 62+ after 5 yrs of creditable service
2: At Age 60 with 20 yrs of creditable service
3: At Age 55 with 30 yrs of creditable service
4: At Age 50 with 20 yrs of creditable service, or any age with 25 yrs of creditable service if subject to reduction-in-force or other involuntary retirement actions (reduced by 2% for each year under age 55).
Retirement Income Formula
(Average “High 3”) x (earned Annuity%) = Monthly Annual Income
“High 3” is the average basic salary earned during and 3 consecutive yrs of creditable service

3. Federal Employees Retirement System (FERS)
Employees covered under FERS will earn pension plan benefits in addition to Social Security benefits. An employees will be eligible for a pension plan benefit after 5 yrs of creditable service with the Federal Government.
Retirement Age
Under FERS, an employee has the option to retire with full or reduced pension plan benefits or a deferred pension plan benefit. FULL pension plan benefits are available at:
Age 55 – 57 with 30+ yrs of creditable service
Age 60 with 20+ yrs of creditable service
Age 62 with 5 or more yrs of creditable service
Age 50 with 20 yrs, or any age with 25 yrs of creditable service for those employees subject to reduction-in-force or other involuntary retirement actions.
REDUCED benefits: Age 55 – 57 with 10+ yrs of creditable service.
DEFERRED benefits: 5+ yrs of creditable service upon separation from government

4. Federal Employees Retirement System (FERS)
Basic Pension Plan Benefits Formula
“High 3” average pay x (1% for all yrs of creditable service, plus supplement, or 1.1% for all years of creditable service, if age 62 or later with at least 20 yrs of creditable service FERS service).

5. FEDERAL EMPLOYEES’ GROUP LIFE INSURANCE (FEGLI)
Automatic coverage unless waived
BASIC AMOUNT: coverage is equal to employee’s base pay rounded to the next highest thousand dollars, plus $2,000 x the appropriate table factor.
Example: Mrs. Smith $55, 550 base salary could have basic coverage of $58,000. Government will pay 1/3 of cost (100% of cost is paid by government for postal employees however) and employee pays the rest.
OPTION A: $10,000 coverage
OPTION B: Option to purchase additional coverage 1 – 5 times annual base salary rounded to nearest $1,000.
OPTION C: Family coverage of $5,000 on employees’ spouse & $2,500 on children. Maximum coverage is 5 times on each.
Special Note: Employee must participate in the BASIC coverage in order to elect the other options.