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What you are saying is correct, but does not demonstrate the entire picture.
The main advantage of CSRS over FERS is retiring at age 55. CSRS folks get a normal COLA when they retire.
The longer a federal employee waits to retire, the better FERS becomes a better choice. At age 62, the FERS retirement plan is far superior to CSRS.
FERS folks do not get a COLA till age 62. You actually get no COLA and then diet COLA on the FERS part.
The Social Security part of FERS retirement gets the same COLA as CSRS folks.
I don't want to clutter Corvette's I Fund thread with this discussion. Could you follow me over to my thread? (XL-entLady) Thanks,I'd given what you said a bit to sink in. I'm FERS, and due to MRA will "retire" at 56. I look at the social security offset the DOD will pay during the years between 56 and 62 as a benefit to take advantage of. Unless one is a GS 14/15 (or whatever it will convert to under NSPS), or just flat out enjoy your government career, of which I'm neither, it makes more sense for me to take advantage of the offset. I can sell bait and tackle to make up the difference during that time, use TSP to back me from 62 to 65 then apply for SS (if it indeed still exist).
Am I flawed here, or just lazy?![]()
early indications are showing I fund up .73 cents before the open this morning.
early indications are showing I fund up .73 cents before the open this morning.
A must read for (I) Funders !
http://www.tsptalk.com/mb/showpost.php?p=182160&postcount=1603[/quote]
This is ironic with the dollar down over 2% today.