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Frequently Asked Questions

Is FERS a qualified retirement plan?

The CSRS, FERS, and TSP annuities are considered qualified retirement plans. You can find information about computing the taxable portion of your annuity by going to IRS Publication 721 (Tax Guide to U.S. Civil Service Retirement Benefits) on the Internal Revenue Service website.

Do you pay taxes on FERS retirement?

Taxes on Your FERS Pension During your career, you pay a portion of your paycheck into the Federal Employees Retirement System (FERS) (the system that funds your pension), and that money that you contributed actually does come out tax free because you already pay taxes on it.

Can I Cash Out my FERS?

In that respect, nothing is lost by leaving government. Can you cash out your FERS retirement? Federal employees who leave federal service have the option to withdraw their retirement contributions or wait until retirement age to apply for a retirement annuity, typically at age 60 or 62 depending on years of service.

Is FERS a mandatory deduction?

Under both CSRS and FERS, the payroll deductions for CSRS/FERS are ½ percent more than for regular federal employees. Under the special provisions for FERS, the payroll deduction is 1.3% and for CSRS, the payroll deduction is 7.5%. Mandatory Separations. To meet the goal of maintaining a young and vigorous work force, a mandatory separation ...

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