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Federal Employees Benefits Q &A

Do you have questions about your federal employee CSRS or FERS pension/annuity or federal employee retirement planning? Concerns about your Thrift Savings Plan (TSP) account or what about federal employee pay and leave issues?

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JamesD  
#1 Posted : Wednesday, December 15, 2021 11:58:45 AM(UTC)
JamesD

Rank: Newbie

Groups: Registered
Joined: 12/14/2021(UTC)
Posts: 1
United States
Location: RI

Federal Soup,
I hired on to the Federal Government after 31 December 1983 when CSRS ended and before 1 January 1987 when FERS began. I was thus hired during the so-called “CSRS-Interim” period for the retirement system. I was a new hire so I did not have 5 years of CSRS vested. Hence, on 1 January 1987 all retirement earned on my CSRS-Interim retirement was automatically converted to FERS retirement.

My question is this: Exactly how was my retirement converted at this time from CSRS-Interim?

For example, on the current LES in block 19 there is a Cumulative Retirement amount for FERS. Does some of this amount include that from the CSRS-Interim and is added into this Block 19? Alternatively, is this handled a different way?

Another point, the CSRS for the first 5 years is 1.5% of high-three. The FERS would be, since I am over 62, 1.1% times high 3. But when converted to FERS was a 1.5% used since I was on CSRS-Interim at that time and computed into total retirement or was it 1.1% since that is the current multiplier in my FERS retirement?

There may be many more questions like this. The overall question is this: Exactly how is the CSRS-Interim retirement converted into FERS retirement? I have seen much information regarding the fact that it was automatically converted from CSRS-Interim into FERS for my situation but I have not found any information stating any of the details of exactly how that conversion was executed.

Thank You.

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