Federal Employees Retirement System [FERS] Law and Legal Definition
The Federal Employees Retirement System (FERS) refers to a retirement plan for the U.S. federal civilian employees. FERS is an annuity offering guaranteed lifetime retirement income with a survivor benefit annuity option. Retirement benefits under FERS are accumulated in three ways:
a. through Social Security benefits;
b. through a basic benefit plan for which the employee is charged a nominal amount; and
c. through a Thrift Savings Plan (TSP), which comprises automatic government contributions, voluntary employee contributions and matching government contributions.
Legal Definition list
- Federal Employees Retirement System [FERS]
- Federal Employees Health Benefits Program (FEHBP)
- Federal Employees Compensation Act
- Federal Employee
- Federal Emission Test Procedure
- Federal Employers Liability Act FELA
- Federal Energy Regulation Commission
- Federal Entity for Lending Regulation
- Federal Facility
- Federal Family Education Loan (FFEL) Programs [Education]
- Federal Farm Credit Bank
Related Legal Terms
- 9-1-1 System
- Accelerated Cost Recovery System
- Accompanying the Federal Government Outside the United States
- Active Solar System
- Active Voters [Federal Elections]
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarial Experience [Employee Retirement]
- Actuarial Services [Employee Retirement]
- Actuarially Appropriate [Federal Crop Insurance Corporation]
- Actuarially Sound Retirement System
