Federal Employees Retirement System

The Federal Employees Retirement System (FERS) is a retirement plan for U.S. federal government employees, established in 1986. It provides a combination of benefits: a basic pension, Social Security, and a savings plan known as the Thrift Savings Plan (TSP), which employees can contribute to and receive matching contributions from their agency. FERS aims to ensure financial security for employees after they retire, rewarding years of service and allowing for a stable income in retirement. Eligibility and benefits vary based on length of service and retirement age, ensuring a tailored approach for federal workers.