![]() CSRS employees get paid the same regardless of the market because their checks come straight from Uncle Sam. FERS save the government $$ while at the same time passed on the risk of bad economic times to the individual employee. And if the market crashes, well.you better stock up on cat food for dinner. That's great if the stock market is ALWAYS gaining, however if you plan on living off of it into retirement, expect your take home play to fluctuate. The housing crash of 2008/9 that caused TSP holding to plummet affected every government retiree's savings.Įvery argument explaining how FERS was such a good deal involved an inflated evaluation of the TSP's (401K) growth. and spent the rest of his career regretting it. My trainer was one of the few suckers to make the switch. Thrift Savings Plan) would be, with charts and graphs showing how a diligent employee could save $1 Million at retirement. Many HR briefings were given, touting how great the 401K (i.e. CSRS employees clearly have/had the superior retirement plan, but when congress was pushing FERS, many mouthpieces lied about how great FERS was for employees and how it would save the Government Millions, give employees more retirement choices, more in line with private sector, blah, blah, blah.ĭuring the transition between CSRS and FERS, some CSRS eligible employees (rehires) were given the opportunity to maintain CSRS, or convert to FERS. I'm a FERS employee and have spoken to many CSRS ole timers. FERS was sold as am improved retirement for civilian workers. ![]() ![]() As general information, the difference between Civil service retirement and Federal service retirement might be something to look at for comparison. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |