It's a little harder to plan with FERS because of the market ups and downs. It's never good to pull money out of a retirement account when the markets are way down, but sometimes you may have to. With CSRS there is certainty with how much you're going to get in retirement every month which makes planning and budeting much easier. CSRS also works better for those who wanted to retire early (age 55 or so), draw your pension and then either go out and find another job doing something you really like doing, or do nothing and just enjoy the good life. With CSRS, you can get a COLA as soon as you retire while with FERS you have to wait until age 62. But with FERS, because of the employer TSP matching, there is the potential to build a very large nest egg before you retire. Both are good retirement systems and we're all lucky. Many only have 401K's and social security for retirement.
Posted by: mribas@suddenlink.net
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