As a federal employee, you probably have the Thrift Savings Plan as one of your retirement benefits. The Thrift Savings Plan, also known as the TSP, is a retirement investment plan for federal employees under the FERS retirement system. CSRS employees may also opt to participate in the Thrift Savings Plan as a supplement to their CSRS basic annuity for future retirement income.
It can play a vital role in your financial security, but you may wonder about how it works, what your options are, and what you can do to accumulate as much money as possible for retirement.
In this article, we will go over what the Thrift Savings Plan is, how it works, the investment choices it offers, and how you can use it for retirement income.
If you have been in the civil service for many years, then you may wonder about how to calculate your CSRS annuity payments that you will receive after you have separated from federal service. The CSRS basic annuity is one of the chief perks that CSRS covered employees get when they retire. It comprises a major portion of their lifetime compensation for their service to U.S. government.
In most cases, the calculation that is used to compute the amount of your monthly CSRS annuity is relatively straightforward. You can make this calculation yourself to get at least a rough estimate of what your monthly annuity payout will be after you stop working.
Here, we will break this formula down in detail to show you how to calculate your CSRS annuity payments so you know what you will get each month.
With you as a federal employee planning your retirement, one crucial task is calculating the amount you will receive on your FERS retirement pension (also sometimes called your FERS annuity). You need to know when you can start receiving payments and how much they will be.
This article will examine many of your questions about a FERS pension. This material doesn’t consider early retirements due to disability. Here are some things to keep in mind when calculating what your FERS pension payments will likely be — and how you can adapt these practical fundamentals for your federal retirement planning.
The FERS supplement is one retirement benefit that you may have a federal employee covered under the Federal Employees Retirement System (FERS). But there are a few nuances to how it works, and when you might be eligible for it, among other things.
Here’s a quick look at what to know about your FERS Supplement benefit — and how it fits into your overall federal employee benefits picture.