How to find best out of CSRS vs FERS Plans
The Civil Service Retirement System (CSRS) was the retirement plan for U.S. federal civilian employees until it was replaced by the Federal Employees Retirement System (FERS) in 1987. CSRS provided retirement, disability, and survivor benefits to federal employees. Those hired before 1984 remain under CSRS, while employees hired after 1983 are covered by FERS.
FERS is a defined-benefit retirement plan that provides benefits from three sources: a basic benefit plan, Social Security, and the Thrift Savings Plan (TSP). Participation in FERS is automatic for eligible employees, and benefits are determined based on the employee’s age and length of service.
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