I said IMO (in my opinion). A person who maxed out CSRS with 41 years 11 months would get 80% of their high 3.
After 42 years under FERS you get about 46%. Sure, you get SS (if it's still around) and tsp match... But, I'd rather have the 34% extra guaranteed for life.
So, I do call that a windfall for most CSRS retirees over most FERS employees.
Sent from my iPhone
Sent from my iPhone
On Mar 24, 2016, at 3:59 PM, William Frieler crs1306@yahoo.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:
Back to the original post - CSRS retirees are already receiving a windfall.Please explain to me how I am receiving a "windfall"? I worked under social security for almost 20 years, plus my military time. Are you saying that I don't deserve anything in return for my 24 years of contributions into Social Security? Does this mean that I should receive the same benefit that a person with only covered earnings receives? No, I agree that some adjustment needs to be made when calculating the amount of my Social Security benefit. The problem being addressed by HR 711 is that, when implemented, the WEP/GPO used a worse case, one size fits all, formula to calculate a reduced benefit. HR 711 does not repeal the WEP - it is just going to change the formula used to calculate the reduction to one that is more fair.
From: "Mike Tucker tuckerm83@yahoo.com [TSP_Strategy]" <TSP_Strategy@yahoogroups.com>
To: TSP_Strategy@yahoogroups.com
Sent: Thursday, March 24, 2016 2:39 PM
Subject: Re: [TSP_Strategy] Increase in SS Benefits for Feds?
*don't* contribute...
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On Mar 24, 2016, at 2:35 PM, Mike Tucker tuckerm83@yahoo.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:CSRS Feds also doesn't contribute to social security. Given the option, most FERS folks would rather have CSRS instead 😉 I would certainly rather take my OASDI taxes and put them in TSP.
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On Mar 24, 2016, at 10:45 AM, sarah_oz@yahoo.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:I love how it's called, "The Equal Treatment of Public Servants Act." Yet, nowhere does it mention turning FERS into CSRS. IMO CSRS retirees are already receiving a windfall.
FERS receive matching contributions, a pension, and social security.
CSRS receive a pension. No matching contributions and no social security.
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Posted by: Jspowell99 <jspowell99@yahoo.com>
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