freebird5825
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I am in the unique position of being the recipient of benefits of both CSRS (now) and then FERS (eligible for my own deferred pension under MRA+10 rules in 6 years).
I was a FERS employee from day one. My LH was a CSRS employee from day one. I am looking at the CSRS system strictly as a survivor annuitant.
My overall impression is the FERS system carries more flexibility for the person who is not planning to be a lifetime civil servant, after the magical 10 year mark of full retirement vesting. The real tie-breaker - TSP. My contributions (set at the maximum for 18+ years) gave me an agency match of the equivalent of 1 year of my high 3 salary. FERS rules allowed me to FIRE when I had enough.
The CSRS is much better for the person who willingly trades off the inflexibility of remaining a lifetime employee (the golden handcuffs), for the higher pension with full COLAs.
IMHO, Khan obviously made the right choice to change to the flexibility of FERS.
I was a FERS employee from day one. My LH was a CSRS employee from day one. I am looking at the CSRS system strictly as a survivor annuitant.
My overall impression is the FERS system carries more flexibility for the person who is not planning to be a lifetime civil servant, after the magical 10 year mark of full retirement vesting. The real tie-breaker - TSP. My contributions (set at the maximum for 18+ years) gave me an agency match of the equivalent of 1 year of my high 3 salary. FERS rules allowed me to FIRE when I had enough.
The CSRS is much better for the person who willingly trades off the inflexibility of remaining a lifetime employee (the golden handcuffs), for the higher pension with full COLAs.
IMHO, Khan obviously made the right choice to change to the flexibility of FERS.