Federal Employees' Retirement System: Benefits and Financing

Description

This report discusses the retirement systems in place for federal employees. 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. This report also summarizes relevant legislation in the 113th Congress that would make significant changes to federal benefits and financing, including H.J.Res. … continued below

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22 pages.

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Isaacs, Katelin P. December 20, 2013.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by the UNT Libraries Government Documents Department to the UNT Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 33 times. More information about this report can be viewed below.

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Description

This report discusses the retirement systems in place for federal employees. 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. This report also summarizes relevant legislation in the 113th Congress that would make significant changes to federal benefits and financing, including H.J.Res. 59, S. 18, S. 1678, and H.R. 3639.

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22 pages.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1960's through 2018—covering a variety of topics from agriculture to foreign policy to welfare.

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  • December 20, 2013

Added to The UNT Digital Library

  • Feb. 3, 2014, 7:46 p.m.

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Isaacs, Katelin P. Federal Employees' Retirement System: Benefits and Financing, report, December 20, 2013; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc271992/: accessed May 28, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.

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