Author Topic: CRS and FERS  (Read 2146 times)

Offline Art, just a re(tired) Fil-Am

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CRS and FERS
« on: April 08, 2018, 08:33:53 AM »
Also, I wouldn't have trouble keeping 2 or 3 months expenses for around the house even though I don't have and am not rolling around in all the big money that a few members on here have coming in.
With my pension, I was fortunate to have a good retirement system under the Civil Service Commission and with the Department of Defense under what is called the Air Reserves Techician (ART) Program, which after 30 yrs of service, my pension is double that of a regular civil service member at the age of 55, but I retired at age 49 with 30 yrs of service, combined with my military and civil service job. Also the annual COLAs helped increase my net worth over a 20 yr period to date. Can't complain what Uncle Sam has provided me into my "Golden Years".
"Life is what we all make it to be"!
"It's always a matter of money"!
"Do on to others as they would do on to You, but do it first"!
"Different strokes for different folks"!
"Que Sera Sera"!

Offline BudM

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CRS and FERS
« Reply #1 on: April 08, 2018, 08:53:58 AM »
Your CSRS pension is not as superior as most of the CSRS pensioners all assume and think compared to a FERS pension.  Yeah, it is about double but then the SS that a FERS retiree makes up about all the difference plus, the TSP works a lot better for a FERS pensioner.  No doubt when they developed FERS it took a little bit of some other stuff away maybe but what it did was not significant.  In fact, I am glad I was forced under FERS because it benefits me in other ways that it would not the CSRS'ers.  The only thing with me is that I don't have all this and that coming in to add to it all.
Whatever floats your boat.

Offline Art, just a re(tired) Fil-Am

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Re: CRS and FERS
« Reply #2 on: April 08, 2018, 09:05:32 AM »
I wasn't making a comparision between CRS and FERS as to w.hat is superior. FERS came after the old CRS retirement system where FERS had much many more options to chose from to manage an employee's future retirement,  whereas under CRS a percentage was taken out and the government matched the contribution.
"Life is what we all make it to be"!
"It's always a matter of money"!
"Do on to others as they would do on to You, but do it first"!
"Different strokes for different folks"!
"Que Sera Sera"!

Offline Lee2

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Re: CRS and FERS
« Reply #3 on: April 08, 2018, 09:55:29 AM »
I split this off another topic and moved it here...
:) Happily married since 1994 & live part of the year in Cebu and the rest in S. Florida.

Offline BudM

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Re: CRS and FERS
« Reply #4 on: April 08, 2018, 10:29:43 AM »
I wasn't making a comparision between CRS and FERS as to w.hat is superior. FERS came after the old CRS retirement system where FERS had much many more options to chose from to manage an employee's future retirement,  whereas under CRS a percentage was taken out and the government matched the contribution.

Well, you sure fooled me with that comment about your CSRS pension being twice as much as the new ones and that the government is being good to your in your golden years.  Sometimes you talk like you have the cat's meow.  We know there are people who are worse off than we are at what they will get but the fact is, we don't have it all like some do.

And yeah, you only worked until 49.  I worked until 59 so I only lost 6 years because I have 34 versus your 30.  And for 40 I fully paid in to SS.  So, I get my full SS payment along with my FERS which is about half of a CSRS.  Well, they come out about equal so let's see, half and half equals, oh yeah, one.  Not to say you don't have any SS at all but I know not through CSRS you don't.  And on my TSP (which will also be about equal to each of the other two) will just make life and retirement that much more enjoyable when that is forced on me to start drawing at 70 and a half.

Two things I regret about not having a military retirement or one of those like you have, the "Reserve Other Military Retirement".   Not having to pay for health care premiums (although you have to have to pay for the Medicare Part B which is not much different than my premiums) and my wife not being a US citizen having a half civil service survivor benefit, which would of course had been higher under CSRS or military survivor benefit since when I finally kick out, she will not be able to get a SS widow benefit.

Other than that, I am good to go.  And my wife will be good to go.  So, there are more people than you think who are enjoying retirement even though we live in a different subdivision and a different area than down there mixed in with all that traffic and congestion near the area around SLEX and Tagaytay Road in Sta Rosa.  Some of us others are very happy with our situations.

I can't get back to more for a while.  I have some place I want to go.
Whatever floats your boat.

Offline clarkee

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Re: CRS and FERS
« Reply #5 on: February 10, 2019, 11:49:01 AM »
I went out on disability under FERS when I was 42.  I started receiving SSDI at age 50 until present. I'm not eligible to draw my regular retirement until I turn 62(next year). Retirements at age 62 are figured differently than if you had worked 30 years and retired at 55. With 30 years of service at age 55, FERS uses your high 3-average x 1% times 30 years. Retirement at age 62 FERS uses your high 3-average x 1.1% plus all your regular civil service years, all your military years(if you bought back your time) and all your years you were on disability plus you get all your COLA increases for every year you were on disability. Next year I will have a total of 39 years towards retirement.

Offline Art, just a re(tired) Fil-Am

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Re: CRS and FERS
« Reply #6 on: February 10, 2019, 02:50:07 PM »
I went out on disability under FERS when I was 42.  I started receiving SSDI at age 50 until present. I'm not eligible to draw my regular retirement until I turn 62(next year). Retirements at age 62 are figured differently than if you had worked 30 years and retired at 55.
Civil Service retirement is calculated on a case by case basis under CSR or FERS.
I took a 6 yr early retirement (comes once in a blue moon) at age 49 under CSR as a Tsgt Air Reserve Technician, Wg-10 civilian position with a comdined total of 30 yrs service and retired on Dec 1987 and have been retired in the Philippines since 1988 to date.
"Life is what we all make it to be"!
"It's always a matter of money"!
"Do on to others as they would do on to You, but do it first"!
"Different strokes for different folks"!
"Que Sera Sera"!

Offline bigrod

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Re: CRS and FERS
« Reply #7 on: February 10, 2019, 04:18:12 PM »
Civil Service retirement is calculated on a case by case basis under CSR or FERS.
I took a 6 yr early retirement (comes once in a blue moon) at age 49 under CSR as a Tsgt Air Reserve Technician, Wg-10 civilian position with a comdined total of 30 yrs service and retired on Dec 1987 and have been retired in the Philippines since 1988 to date.

Art did you retire in 97 or 87 with 30 years?  Heck you did not graduate HS until like 1966 or 1967.

Chuck
Life is  to short not to live it right the first time

Offline Art, just a re(tired) Fil-Am

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Re: CRS and FERS
« Reply #8 on: February 10, 2019, 06:20:02 PM »
Art did you retire in 97 or 87 with 30 years?  Heck you did not graduate HS until like 1966 or 1967.

Chuck
Eagle eye Chuck,
My bad, missprint, retired in 1997 and moved to the Philippines in 1998.
« Last Edit: February 10, 2019, 06:27:10 PM by Art, just a re(tired) Fil-Am »
"Life is what we all make it to be"!
"It's always a matter of money"!
"Do on to others as they would do on to You, but do it first"!
"Different strokes for different folks"!
"Que Sera Sera"!

Offline clarkee

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Re: CRS and FERS
« Reply #9 on: February 10, 2019, 10:51:41 PM »
Disability under FERS is pretty straightforward.  I retired 1n 1999. Never heard of a case by case. I know what mine is and I've read "computation of a FERS disability" and I've checked with OPM. All I have to do is live long enough to start collecting. LOL!

Offline Art, just a re(tired) Fil-Am

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Re: CRS and FERS
« Reply #10 on: February 11, 2019, 04:49:29 AM »
Disability under FERS is pretty straightforward. All I have to do is live long enough to start collecting. LOL!
I retired at age 49 and I'm now 70 yrs old. I think I've lived long enough to reap the benefits of my early retirement. Yeah, all those COLAs over the years truly helped alot towards my overall monthly net worth considering that my Mil Pay, 30% VA Disability Comp and small SSA (due to the Windfall project) are not taxed. Only my CRS pension is taxed.
We live comfortably with what benefits I receive by retiring 6 yrs early from government service and having Tricare Overseas helps greatly with no monthly premiums out of my pocket, except for Medicare when I turned 65 5 yrs ago. Yeah, longevity has it's rewards living longer "knock on wood".  ;) >:( :o


"Life is what we all make it to be"!
"It's always a matter of money"!
"Do on to others as they would do on to You, but do it first"!
"Different strokes for different folks"!
"Que Sera Sera"!

Offline clarkee

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Re: CRS and FERS
« Reply #11 on: February 11, 2019, 04:59:24 PM »
Yeah Art, I retired from the military side just as a E-5 Ssgt. I retired so early due to disability that I didn't have the chance to gain more rank but that's ok. Its a retirement none the same. I also have Tricare for life plus I still carry my BC/BS health insurance from my civil service position. My premiums for BC/BS are only $159.00 a month under basic option. I'm only 10% VA
qualified. I retired from my ART position at Barksdale AFB in Shreveport, LA back in 1999.

Offline Art, just a re(tired) Fil-Am

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Re: CRS and FERS
« Reply #12 on: February 11, 2019, 06:26:06 PM »
What helped me was my 6,000 Reserves Retirement Points. I did extra volunteer annual tours overseas every year when slots were available. Yeah, going up in rank was almost impossible when not in the click. That's the other reason why I took the early retirement when it came up under Clinton's administration during his campaign closing down stateside bases and manpower reductions military personel and Civil Service employees with a minimum service of 25 yrs at any age. I had 30 yrs at age 49. So I took it and ran.
"Life is what we all make it to be"!
"It's always a matter of money"!
"Do on to others as they would do on to You, but do it first"!
"Different strokes for different folks"!
"Que Sera Sera"!

Offline clarkee

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Re: CRS and FERS
« Reply #13 on: February 11, 2019, 11:48:43 PM »
You definitely had to be in the click at Barksdale and that's for sure. I did 5 years active and I believe I had around 3000 points total. 

 


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