The Federal Employees Retirement System (FERS) became effective January 1, 1987, replacing the Civil Service Retirement System (CSRS); all Federal civilian employees hired after this date are covered under FERS. FERS has three main components: The Basic FERS Retirement Pension, Social Security, and the Thrift Savings Plan (TSP). Our discussion will focus on your FERSContinue reading “Snapshot of the FERS Pension”
Author Archives: Jose Armenta, MsBA, CFP®, ChFC®, CLU®, EA
Three Advantages of the TSP
The Thrift Savings Plan (TSP) is designed to closely resemble the private sector’s 401(k). Although the TSP is similar to the 401(k), its additional features, including low fees, broad diversification, and a generous government match, make it superior to most 401(k)s and a perfect wealth-building vehicle for Federal Employees. Here’s a closer look the threeContinue reading “Three Advantages of the TSP”