All federal employees should be aware that the federal government starts the retirement planning process immediately upon employing an individual in a permanent position. The government has passed legislation that each employee covered by the Federal Employees Retirement System (FERS) will be mandated to contribute into the Civil Service Retirement and Disability Fund (CSRDF), the Social Security Fund, and the Medicare Fund. Legislation was also passed to establish a savings and investment plan – the Thrift Savings Plan (TSP) – which is voluntary, in order for each employee to have a supplemental annuity in retirement. Although the government starts the planning process, each employee also needs to plan and prepare for retirement. It is a full career process, from the date of employment to the date of retirement. This course will provide federal employees with sufficient information to enable them to make informed decisions about retirement planning.
These course materials and content are for informational purposes only and do not constitute legal advice. Nothing herein, or in the course materials, shall be construed as professional advice as to any particular situation or constitute a legal opinion with respect to compliance with any federal, state, or local laws. Transmission of the information is not intended to create, and receipt does not constitute, an attorney-client relationship. Readers should not act upon this information without seeking professional counsel. The information contained herein is provided only as general information that may or may not reflect the most current legal developments. This information is not provided in the course of an attorney-client relationship and is not intended to constitute legal advice or to substitute for obtaining legal advice from an attorney licensed in your state.
Pre-retirement Planning for FERS