The Federal Employees Retirement System (FERS) is a retirement plan that covers all employees in the executive, judicial, and legislative branches of the federal government. Employees underFERSreceive retirement benefits from three sources: the basic benefit plan, Social Securit...
The Civil Service Retirement System (CSRS) is a system that provided retirement, disability, and survivor benefits for most U.S. civilian service employees working for the federal government. It was replaced in 1987 by the Federal Employees Retirement System (FERS). However, employees who were o...
Combat pay is only exempt from federal taxes and most state taxes. So, you should not see any specific differences due to your deployment. Were Military Retirees or Retirees from the Federal Employees Retirement Systems (FERS) affected?
IRAs also have an early withdrawal penalty of 10% for any money taken out when you are younger than 59½. However, if you retire at age 55 or older, TSPs will waive the 10% penalty.17 Even better, if you qualify underFederal Employees Retirement System (FERS)special provisions, this...