Federal Employees' Retirement System: Benefits and Financing

Description:

Most civilian federal employees who were hired before 1984 are covered by the Civil Service Retirement System, and contribute 7.0% of their pay to a retirement fund. Federal employees hired in 1984 or later are covered by the Federal Employees' Retirement System and contribute 0.8% of their pay to a retirement fund. Both require participants to contribute toward the cost of their pensions through a payroll tax. The taxable wage base is $106,800 in 2011. This report discusses both retirement funds.

Creator(s): Isaacs, Katelin P.
Location(s): United States
Creation Date: January 5, 2011
Partner(s):
UNT Libraries Government Documents Department
Collection(s):
Congressional Research Service Reports
Usage:
Total Uses: 19
Past 30 days: 1
Yesterday: 0
Creator (Author):
Isaacs, Katelin P.

Analyst in Income Security

Publisher Info:
Place of Publication: Washington D.C.
Date(s):
  • Creation: January 5, 2011
Coverage:
Place
United States
Description:

Most civilian federal employees who were hired before 1984 are covered by the Civil Service Retirement System, and contribute 7.0% of their pay to a retirement fund. Federal employees hired in 1984 or later are covered by the Federal Employees' Retirement System and contribute 0.8% of their pay to a retirement fund. Both require participants to contribute toward the cost of their pensions through a payroll tax. The taxable wage base is $106,800 in 2011. This report discusses both retirement funds.

Physical Description:

18 pages.

Language(s):
Subject(s):
Partner:
UNT Libraries Government Documents Department
Collection:
Congressional Research Service Reports
Identifier:
Resource Type: Report
Format: Text