Why are FERS benefits so inferior to CSRS?

Snippet of Article: "...Unlike CSRS, which had a single defined benefit, FERS has three parts: a defined benefit, which is smaller than that for CSRS, Social Security, and the Thrift Savings Plan. While the first two can be tracked and serve as a base, the third depends in large part on how much an employee invests while working. Employees who maximize their contributions to the TSP can boost their retirement income substantially. Those that don’t may find that their retirement benefits fall short of their needs. ..."

Source: www.federaltimes.com

CSRS vs FERS,

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Retirement News: When Do I Stop Paying Social Security Tax?

When Do I Stop Paying Social Security Tax?

Snippet of Article: "...Whether you're salaried or self-employed, you must generally contribute throughout your entire working life. There are, however, a few exceptions..."

Source: www.investopedia.com

Possible Relief from Social Security cuts for certain retirees (WEP)

Social security relief for federal retirees, and other bills to watch after August recess

Snippet of Article: "...Lawmakers have been trying for more than a decade now to address the Windfall Elimination Provision (WEP), a complicated relic from a 1983 law that reduces Social Security benefits for..."

Source: federalnewsnetwork.com

Administration clarifies the intended destruction of federal employee retirement

Administration Adds Details to Benefit-Cutting Proposals

Snippet of Article: "...Elimination of Federal Employees’ Retirement System Annuity Supplements This proposal would amend section 8421 of title 5, United States Code, to eliminate the Federal Employees’ Retirement System (FERS) annuity supplement for new retirees and the supplementary annuity for survivor annuitants. The proposal retains language that requires OPM to apportion a FERS annuity ·supplement to a former spouse when a court order expressly divides a FERS annuity for purposes of annuitants who retain a FERS annuity supplement under prior provisions of section 8421. Also, the proposal retains language that requires OPM to reduce or eliminate an annuitant’s FERS annuity supplement based on earnings for those who retain FERS annuity supplements under prior provisions..."
Source: www.fedweek.com

FERS Annuity Supplement, SRS, Destruction of the working class, Destruction of the Federal Employees Retirement System,

Report Documents Shift from CSRS to FERS in Workforce

Snippet of Article: "...The FERS system became the majority system within the federal workforce only about a decade after it was launched; by fiscal 1996, it accounted for 53 percent of current employees to 47 percent for CSRS. That share steadily grew as the generally older CSRS employees retired so that now only 6 percent of current employees are under CSRS, the report said. Of current retirees, 67 percent are under CSRS. Separate OPM data show that just about the same share, 69 percent, of those who retired in 2015 were covered by FERS,..."

Source: www.fedweek.com

Average Federal Retirement Age Continues to Increase

Snippet of Article: "...The data, as of fiscal 2016, further showed that for normal retirements, the average years of service was 37.0 for CSRS and 22.2 for FERS, with an average monthly annuity of $4,917 and $1,534, respectively..."

Source: www.fedweek.com

CSRS vs FERS, Average Years of Federal Service,

2 percent federal retirement COLA set for January

Snippet of Article: "...Under FERS, an inflation adjustment isn’t paid until age 62, except for those who retired due to disability or from certain occupations that require earlier retirement. The average monthly civil service benefit under FERS is about $1,400, yielding an average increase, for those eligible, of $28. Those retired under FERS are eligible for Social Security benefits under standard rules and those receiving that benefit — which generally cannot begin earlier than age 62 — will see that payment boosted by 2 percent as well..."

Source: www.washingtonpost.com

CSRS vs FERS, 2018 Federal Retiree COLA, COLA,