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CBP officers begin to earn greater retirement benefits
Tuesday - 7/19/2011, 7:02pm EDT
Federal News Radio
Customs and Border Protection (CBP) officers are now on par with firefighters and law enforcement officers when it comes to retirement benefits.
An Office of Personnel Management (OPM) rule published Monday in the Federal Register gives some CBP officers the opportunity to earn annuity benefits at a faster rate and participate in an early retirement program like other frontline workers.
The rule implements language in the 2008 Department of Homeland Security Appropriations act. Specifically, people who served as officers on July 6, 2008 can earn retirement benefits computed at either 2.5 percent per year of service if covered by the Civil Service Retirement Act (CSRS), or 1.7 percent per year of service if covered by the Federal Employee Retirement System (FERS).
Supervisors or administrators who were officers for at least three previous years may qualify for accelerated retirement benefits.
CBP officers must begin their careers by age 37 and retire by 57 in most situations. CBP officers who joined before July 6, 2008, however, would not be subject to the mandatory retirement age.
The rule became effective July 18.
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