FERS Intro Flashcards
What was the FERS effective date?
01/01/1987
FERS covers all new federal employees hired after 12/31/83
When was CSRS Interim period ?
was from 01/01/84 through 12/31/86. New law placed all new federal employees in Social Security beginning 01/01/84 and FERS effective 01/01/87
What is Civil Service Retirement System Offset?
-rehires after 01/01/84 with more than 5 years prior service & a break in service of more than 1 year
What is a Federal Appointment?
Any personnel action that places a person on the staff of a federal agency.
What types of appointments?
Career conditional, Career, Temporary (Emergency, Veterans Readjustment appts, TERM, TAPER)
What is “Tour of Duty?”
The daily hours and days of the week that are scheduled in advance, and during which an employee is required to work on a recurring.
FERS is a 3-tiered retirement plan consisting of…
Social Security Benefits…
the basic FERS retirement benefit and…
the Thrift Savings Plan.
Service is determined to be creditable for retirement purposes if it meets what three tests of Federal Employment?
the employee was engaged in the performance of federal functions under Congressional authority or an Executive Order.
The employee was appointed or employed by a Federal officer; and…
was under the supervision and direction of a Federal officer.
In what instances is FERS coverage automatic?
First hires after 12-31-86 w/o prior federal service
Employees with CSRS only coverage who have a service break of more than 365 days and do not meet the 5 year test.
Employees with prior FERS service who are rehired
Employees with prior non-federal service subject to CSRS who do not meet the 5 year tes
What is SCD?
Service Computation Date
What is APS?
Additional Pay Status
What is OASDI?
Old Age Survivor and Disability Insurance
What is IRR?
Individual Retirement Record
What does FICA stand for?
Federal Insurance and Compensation Act
What is the SF 50?
Notice of Personnel Acti
In a Component case, unpaid post 3-1-1991 CSRS redeposit service entitles the annuitant to….
service that is creditable for title and average salary only
Name 4 types of Non Deduction service
temporary appt, NTE, Taper, NAFI (PL104-106, 107-107), WAE, or Limited
What is a flipped redeposit
Less than 5 years of CSRS refunded service
What is the minimum service requirement for Retirement Eligibility?
5 years creditable service
Name 3 Requirements for an Optional/regular retirement
MRA and 30 years
Age 60 and 20 years, Age 62 and 5 years (no age reduction) and
MRA and 10 years (with an age reduction)
What Forms are needed for Involuntary retirements?
SF 1510 and notification
What are the Requirements for an Early Retirement?
Any age with 25 years service or Age 50 with 20 years of service
Name 4 types of retirements
Optional/regular
Early Retirement (including major RIF and discontinued Service)
Deferred/Postponed and
Disability
what is the date FERS came into existence?
01-01-1987
Straight FERS retirement, FICA service can usually only be paid to what date?
01-01-1989
What were the dates of Interim employees?
01-01-1984 to 12-31-1986
What is Continuity of Service?
Three days or less break in service
What is FERS current deduction rate ?
.80%
Name 4 types of covered appointments
Temp NTE, Career, Career conditional, Excepted, and Term
What is the Basic FERS annuity calculation?
What is high 3 average salary X 1% X years and months of service
