Question 1

What is the Federal Employees Retirement System (FERS)?

Accepted Answer

FERS is a three-part retirement system covering most federal employees hired after January 1, 1984. It consists of a Basic Benefit Plan (pension), the Thrift Savings Plan (TSP), and Social Security. Together, these three components are designed to provide a comprehensive retirement income for federal employees.

Question 2

How is my FERS pension calculated?

Accepted Answer

Your FERS pension is calculated as: 1% × High-3 Average Salary × Years of Creditable Service. If you retire at age 62 or older with at least 20 years of service, the multiplier increases to 1.1%. The High-3 is the average of your highest three consecutive years of basic pay.

Question 3

What is the FERS Supplement?

Accepted Answer

The FERS Supplement (also called the Special Retirement Supplement) is a bridge benefit paid to eligible FERS retirees who retire before age 62. It approximates the Social Security benefit you earned during your federal service and is paid until you reach age 62. It is subject to an earnings test if you have outside earned income.

Question 4

What is the Minimum Retirement Age (MRA) for FERS?

Accepted Answer

Your MRA depends on your birth year: 55 (born before 1948), 56 (born 1953–1964), or 57 (born 1970 or later). To retire with an immediate, unreduced annuity, you generally need to meet your MRA with 30 years of service, or age 60 with 20 years, or age 62 with 5 years.

Question 5

How does the TSP work for FERS employees?

Accepted Answer

The Thrift Savings Plan is a tax-advantaged retirement savings plan similar to a 401(k). FERS employees receive an automatic 1% agency contribution and up to 4% in matching contributions (for a total of 5% match). In 2025, the contribution limit is $23,500, with an additional $7,500 catch-up contribution allowed for employees age 50 and older.

Question 6

Can I keep my FEHB coverage in retirement?

Accepted Answer

Yes, if you have been enrolled in FEHB for the five years immediately preceding your retirement (or since your first opportunity to enroll), you can continue your FEHB coverage into retirement. Premiums are deducted from your annuity payment.

Question 7

What is a survivor benefit election under FERS?

Accepted Answer

A survivor benefit election allows you to designate a portion of your FERS annuity to continue to a surviving spouse or other insurable interest after your death. A full survivor benefit provides 50% of your unreduced annuity; a partial benefit provides 25%. Electing a survivor benefit reduces your own annuity by a corresponding amount.

Question 8

Does The Spivak Financial Group charge for FERS consultations?

Accepted Answer

Your initial FERS retirement consultation with The Spivak Financial Group is completely free and carries no obligation. We serve federal employees nationwide via phone and Zoom. Call 888-966-3055 or book online at fersretirementplanner.com to schedule your free consultation.

Question 9

What states does FERS Retirement Planner serve?

Accepted Answer

The Spivak Financial Group serves federal employees in 45 states across the United States. All consultations are conducted via phone or Zoom — no in-person visit is required. We are headquartered in Scottsdale, Arizona.

Question 10

What is the difference between FERS and CSRS?

Accepted Answer

CSRS (Civil Service Retirement System) covers federal employees hired before 1984 and provides a higher pension but no Social Security or TSP matching. FERS covers employees hired after 1983 and integrates a smaller pension with Social Security and TSP matching. Most active federal employees today are under FERS.

FAQ About FERS Retirement

Frequently Asked Questions

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