Changes

==Retirement Components==

==Retirement Components==

The retirement aspect of FERS consists of three components:

The retirement aspect of FERS consists of three components:

*The FERS [[annuity]] (a defined-benefit [[pension]] plan, similar to CSRS but at a much lower benefit),

*The FERS [[annuity]] (a defined-benefit [[pension]] plan, similar to CSRS but at a much lower benefit, and also requiring longer tenure for a higher pension in most cases),

*Mandatory participation in [[Social Security]] (CSRS employees do not participate in Social Security unless they also had private sector employment, and in those cases are generally subject to reductions), and

*Mandatory participation in [[Social Security]] (CSRS employees do not participate in Social Security unless they also had private sector employment, and in those cases are generally subject to significant reductions), and

*Participation in the [[Thrift Savings Plan]] (TSP, a defined-benefit contribution plan) with matching contributions (CSRS employees may participate in TSP but do not receive matching contributions).

*Participation in the [[Thrift Savings Plan]] (TSP, a defined-benefit contribution plan) with agency automatic and matching contributions; CSRS employees may participate in TSP but do not receive agency automatic or matching contributions).

==FERS Annuity==

==FERS Annuity==