Readers' Comments
Total Comments: 40
Page 2 of 4
Page 2 of 4
The FERS Special Retirement Supplement (and Special Category Employees)
Total Comments: 40
Page 2 of 4
Page 2 of 4
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March 17, 2010
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SRS
USDA
Fri Sep 11, 2009 12:21 PM
Post Reply
I see some commentors questioning why anyone would take the supplement. There are reorganizations that go on all the time that eliminate federal positions. When that happens, many employees have to make choices as to whether to retire early or move to far away locations. It is a choice I was faced with and I was really thankful the SRS option would have been available to soften the blow of leaving the agency earlier than planned.
If I had known so many changes would be proposed to FERS, I would have stayed with CSRS when I had the chance. Proposals like this should only apply to those coming into the system in the future, but not be applied to those of us who elected FERS in the past, because we made our elections based on the information presented at that time.
FERS FOUL PLAY
VA
Fri Sep 11, 2009 12:29 PM
Post Reply
Why is it that my parents & people before them got to retire at 50 or 55, & as the years go they push the retirement age higher? Why doesn't congress just come out and say "I'm sorry, but baby boomers in congress got greedy & frivilous with the money, so you'll have to work until you die" because in essence that is what they're doing. They've pushed the age up so that even if my age group retires, the longest they'll have to pay our pensions is for about 5 to 15 years per person, since the average life expectancy is now 75 (unless your african american then it's 65). I thought retirement was created so though you're a little dated when you do, you would be young enough to enjoy a pension, and the benefits of being a model citizen & contributing to society by working (travel etc.) With them raping Soc. Sec. every 5 min, even if we make it to the age of retirmnt, they tell my genertn don't count on it being there, though they still take it from our checks. Not fair. We pay they play.
Supplement/FERs
FS
Fri Sep 11, 2009 12:55 PM
Post Reply
Well, I am one of those employees that will count on the Supplement. I plan on retiring with 34 years and going out on MRA. But because I am an employee with payback funds that I withdrew, the government penalizes you for that. So this supplement is a must for me. If they take this away, then they need to revamp the system and don't penalize employees because they have a big payback because of theirs funds withdrawn. Got to give something to get something. I don't want to work until I am 62 and sure as is, I have enough years in. Let someone else step in and give them the opportunity for a government job. My years are done.
Supplement
AETC
Fri Sep 11, 2009 1:06 PM
Post Reply
We wont get rich working for the government this is for sure. We need to continue to work at least until 62 to have some sort of money coming in at retirement. The supplement is a joke, not enough for one to really count on it if you plan to retire before 62 years of age.
CSRS vs FERS
FBOP
Fri Sep 11, 2009 1:41 PM
Post Reply
From the readers' comments, obviously the individual with 30.5 years of service is a CSRS employee and does not realize, nor probably care, of the disparity between the two retirement programs. I would challenge him just for a chuckle to calculate what he would get with FERS. Being law enforcement and FERS you take what you can get, because even with the supplement FERS retirement unlike CSRS is meager at best.....
I resent that I have to worry of what my TSP is or is not doing to hopefully make up for the meager basic annuity. I will still be working no doubt, because unlike CSRS who get a guaranteed annuity which adjusts for inflation, there really is no way anyone can really retire on FERS.
Temporary service, credit for buying back service
USDA
Fri Sep 11, 2009 2:12 PM
Post Reply
It;s not fair that a Fers temp employee can not buy their service back. I have no break in service, went right into a permement postion, with 4 yeats of temp service I do not receive credit towards creditable service.
Leaving at 50; the extra SRS $$ will be welcome
DHS/ICE
Fri Sep 11, 2009 2:39 PM
Post Reply
Hey, I'm a Fed LEO who is eligible to retire at 50 and am mandatory at 57. I'm leaving at 50 and the extra SRS $$ will be welcome. If it's still available.
I will then postpone taking SS until I max out.
The person who responded above is correct: FERS employees are in a 3-tiered retirement system. We will depend on an annuity, Social Security and our TSP earnings. Every bit helps. If that isn't enough, we go back into the work force.
It is what it is...
Re: Leaving at 50; the extra SRS $$ will be welcome
DOJ
Sun Sep 13, 2009 10:47 AM