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Federal Retirement Information Will Help You Plan Your Retirement Properly


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Federal Retirement Information Will Help You Plan Your Retirement Properly

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  2. 2. Federal Retirement Information Will Help You It is important to have all the necessary federal retirement information on hand well before you achieve retirement age as this will help you plan for your retirement years. This information will show you how The Federal Employees Retirement System or FERS covers those employees that were hired post December 31st, 1983 which means that such employees are eligible to take part in the Thrift Saving Plan which is a plan that will complement the coverage of Social Security as well as FERS.
  3. 3. Civil Service Retirement System Another piece of important federal retirement information that is worth studying is the Civil Service Retirement System or CSRS that is applicable to employees that have been employed before the year 1984 except if they have elected to be covered under FERS in any period between 1987 and the year 1998.
  4. 4. FERS According to available federal retirement information, FERS was the creation of Congress which decided to expand coverage under Social Security for federal employees and this change took effect from the year 1984.
  5. 5. Federal Retirement Information Of course, in due course of time, according to available federal retirement information, all federal employees would also be covered under FERS even though CSRS would still remain in force as the government’s own pension scheme for those employees that have elected to be covered by CSRS.
  6. 6. Correcting The Federal Retirement Program Congress has for long been taken up with the matter of correcting the federal retirement program to improve survivor and disability benefits that were advantageous only for those people that were covered by private pensions along with Social Security.
  7. 7. Earn An Independent Income Retirement plans will bestow upon a retiree an income or pension for the years when they are no longer able to work and earn an independent income. Before reaching the age of retirement it is therefore necessary to seek out relevant federal retirement information so that you are aware of plans such as Individual Retirement Account or the IRA which is a plan that provides retirees with several tax compensations that will help boost their savings.
  8. 8. IRA Retirement Plans By studying available federal retirement information it is possible to understand the different types of IRA retirement plans which can be provided by employers or which individuals can choose to provide for themselves. Among the different plans that are in force and for which there is sufficient federal retirement information available you can include plans such as traditional IRA, Roth IRA and simple IRA.
  9. 9. Early Retirement Information It is also a good idea to become familiar with early retirement information so as to be able to understand the meaning of early retirement incentive program or the ERIP which is a plan sponsored by employers that helps to provide certain special kind of benefits as well as incentives to employees that have chosen to take early retirement.
  10. 10. ERIP It also helps to find out how programs such as ERIP helps employees that are close to the age of retirement, and it also pays to become aware of whether or not there are any applicable minimum age requirements.
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