What Benefits Are Available to Government Workers Upon Retirement?
Government workers encompass a wide variety of workers, from those in the post office to those in high level government agencies such as the CIA. While the benefits and retirement packages may differ slightly depending on which government job you have, any worker within the federal government system is entitled to certain benefits upon retiring from his public service. Types of Retirement Plans Federal employees are eligible for a three tiered retirement program, referred to as FERS (Federal Employee Retirement System). This program includes a social security benefit, a Thrift Savings Plan (similar to a 401 (k) plan), and a defined benefit component, which is based on the number of years of employment and salary history. If an individual leaves the Federal Government before he retires, the Thrift Savings Plan and Social Security benefits that have been accrued will transfer to the next job. Social Security Benefits The Social Security part of the Federal Employee Retirement Service (FE
