2:10 am, July 13, 2014

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  • FERS for Me
    Sleepless G
    Great informative article - I certainly didn't know all that. I always wondered who was getting the better deal. I also wonder if whatever changes Congress imposes on us will be widely accepted some day. You always think your era is the best.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • More than that
    Linda
    Ah, try 30 years ago Mike. I am FERS and will have 29 years in March. I was one of the first.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • nearly 29 yrs
    Joe
    Mike might be confused with the TSP which is just over 25 years old (1987). FERS started on 1-1-1984 and I started just six months later. I remember they gave us a 3% match on three years' salary in 1987 to try to make up for not having any TSP. Don't know why it took so long to setup the TSP.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • FERS
    FemFedWorker
    I started in CSRS 33+ years ago, and was one of the 2% who switch to FERS - and I'm sooo sorry I did. Had I stayed w/CSRS I could be retired by now, and I wouldn't be worrying if I'll have enough money in retirement to live. And yes I've maxed out my contributions to TSP.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • I've got a bridge to sell you
    Chuck@IRS
    It's said that hindsight is 20/20, but why would you think the Federal Gov't would create a whole new pension plan? To make it better for their employees??? Of course not. Congress has even proposed several changes to FERS to increase the costs to employees and reduce the benefits. They don't have the integrity to create a new plan with even further reduced benefits, they want to pull the rug out from under current participants! I'm waiting for them to renege on our debt to China, problem solved, or at least that's what they'll cheer. Same philosophy, maybe same result.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Coulda, Shoulda, Woulda
    X-taxman
    I can't even believe 2 percent switched, I thought it was more like 2 people!! They pushed it so hard, yet it was so obvious that it did NOT measure up to CSRS. I know one of the few people that switched in the second open season, and although she defends her decision to this day, I'm sure she has very severe regrets, especially with the stock market being so volatile. Still, it is a solid retirement system compared to corporate America, and I'm so glad the moaning and groaning about FERS vs CSRS has finally died down since there aren't that many CSRS employees left.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • FERS
    Bud
    I well remember all the opportunities given us to switch from CSRS to FERS.Whenever you keep getting "more" chances to switch,you know you're being conned.For the 2% who did switch,I sincerely hope it worked out for them.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Agree
    Moderate
    I agree with both Bud and Xtaxman on this one. I had the "opportunity" to switch and refused. One newer person on FERS actually tried to convince me FERS was better than CSRS. A columnist from Fed Smith wrote the same thing. It is better if you do not plan to retire from the feds after reaching the retirement age. However, CSRS is better if you plan to retire from the government after reaching retirement age.
    worker
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  • Kudos Mod
    contrarian
    Seems like a no-brainer to me, but I know many smart people who switched. Unfortunately I got hired just a little too late, so I'm stuck with FERS, and it's horrible investment options.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
  • Glad I Did Not Switch
    Kenny Ray
    FemFedWorker, I am really sorry you fell for the bait. I admit I ALMOST did. At the time FERS came on line I was about 8 years into my career. I was deluged with mail (yes, real mail on paper) and official bulletins from our Personnel Office (this was back before people became 'resources') urging me to switch. The big attraction was the (up to) 5% matching contribution we would get. I was nearly tempted and probably would have fell for it had it not been for some sage advice from a much older co-worker. He asked me, "Do you really think if the government WANTS you to do something that it is going to be good for you?) I only had to reflect on that question for about 2 seconds. Phil, I really owe you for that advice. It would be interesting to know if Sen Stevens, whose senate career began in 1968 according to his official biography, switched over to FERS since he thought it such a great idea.
    { "Agree":"1","Funny":"1","Insightful":"1","Disagree":"-1","Offensive":"-1","Troll":"-1" }
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