fers

Fers is not a standard English word with a single, universal meaning. In formal usage, it most often appears as an acronym, though it can also occur as a surname or be encountered as a misspelling or variant of related terms. The most widely recognized use of the capitalized form is as an acronym for the Federal Employees Retirement System in the United States.

Federal Employees Retirement System (FERS) is the retirement program for most civilian federal employees hired after 1983. It was established by the Civil Service Reform Act of 1986 to replace the older CSRS system. FERS provides retirement income from three sources: a Basic Benefit defined-benefit annuity funded by the government, a portable Thrift Savings Plan (TSP) with government contributions and employee participation, and Social Security benefits. The Basic Benefit is calculated based on years of creditable service and the average of the highest-salary years. The TSP offers a range of investment options to help participants accumulate savings for retirement. In some cases, retirees may receive a Special Retirement Supplement until age 62.

Administration and eligibility for FERS are handled by the Office of Personnel Management (OPM). Eligibility for retirement depends on factors such as age and years of service, with provisions for early retirement under certain conditions and potential reductions in annuity for early departures. The system is designed to integrate with Social Security and provides a framework for federal employees to plan long-term retirement income.

Outside of its use as an acronym, the term “fers” has no widely recognized, standalone meaning in English and is typically encountered only in specific names, acronyms, or as a possible misspelling.