If you are a government employee enrolled in the Federal Employees Retirement System (FERS), understanding your federal benefits and retirement options is crucial. One key component of FERS is the FERS Special Retirement Supplement, designed to bridge the gap between your federal retirement and when you become eligible for Social Security benefits. However, it is…
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How Much Will My Social Security Be Reduced If I Have A CSRS Pension?
Founded 15 years before the Social Security program, the Civil Service Retirement System (CSRS) is a retirement plan that is available to federal employees. It was never meant to supplement Social Security benefits, rather it is a stand-alone government pension program, so federal employees can receive both the CSRS annuity and Social Security benefits. The…
Does FERS Reduce Your Social Security Benefits?
As a government employee, you may be familiar with the Federal Employees Retirement System (FERS) and the various benefits it offers. However, one question that often arises is whether participating in FERS can have an impact on your Social Security benefits. With retirement planning being a crucial aspect of every individual’s financial journey, it becomes…
3 Ways COLAS Can Affect Federal Disability Retirement
If you are a disabled federal employee who has received Federal Disability Retirement, you may be wondering if Cost-of-Living Adjustments (COLAs) will affect your annuity. COLAs are periodic adjustments made to retirement and other benefit plans to help offset the effects of inflation on fixed incomes. As a disabled retiree, it’s important to understand how…
Civil Service Retirement System vs. Federal Employee Retirement System – What’s The Difference?
Retirement is a major consideration for anyone who has worked or is currently working in the civil service sector. Two popular retirement systems that are often discussed are the Civil Service Retirement System (CSRS) and the Federal Employee Retirement System (FERS). While both retirement options provide benefits to federal employees upon their retirement, there are…
Here’s How Rising Interest Rates Can Affect Your Retirement
As a government employee, your federal retirement is one of the most significant benefits you’ll receive during your career. However, the impact of rising interest rates on this benefit cannot be ignored. Recently, there has been a lot of discussion about how changes in interest rates can affect our economy and financial markets. But what…