September 7

All About FERS- What is FERS?

FERS

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Hi, my name is Mike Lanway, I'm a financial planner. I'm an expert in federal employee benefits, and I'm here to help you decide what you need to do to make best use of those benefits to your advantage. 

There's this acronym called FERS- Federal Employee Retirement System. So, to say the "FERS system" is redundant. We only have to say the word "system," all we have to say is "FERS."  Federal Employee Retirement System- what is that? Well, it's a way that you can build your career and acquire the opportunity, acquire the right to own benefits for your lifetime. That's really what FERS is about; it's about retiring. 

So what's the road, what's the path to that retirement? That depends on when you get hired, it depends how you got categorized as an employee, and it depends on what you actually do and how long you actually do it. All that comes into play as to what your first financial picture actually looks like today, and what it could look like tomorrow. The big thing is, let's just hang on to the phrase, Federal Employee Retirement System. You are a FERS employee. That means that you have a certain right and a certain opportunity to build a financial future that can give you guaranteed benefits for your lifetime. All you have to do is begin to understand the rules and that's why we're here, for the FERS employee. 

We hope you enjoyed our video series on the different components of your retirement and your benefits. If you want to see more, learn more at your own pace, use our annual benefit statement. You'll see the link at the bottom and within the description. Go there, take a look at it, we think you'll be happy with what you see and and that it's going to help you.

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    1. Most of our posts are geared toward active employees, but we also have retired followers. I will be glad to pass along your questions – anything specific you are wanting to learn about?

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