If you’re a civilian employee of the federal government with retirement coverage, you likely fall under the Federal Employee Retirement System (FERS) or the Civil Service Retirement System (CSRS). FERS combines benefits from three different sources: a Basic Benefit Plan, Social Security, and the Thrift Savings Plan (TSP). The Civil Service Retirement System is a defined benefit, contributory retirement system that provides annuity payments after you retire or in other special circumstances.

Most federal employees are also eligible for the Federal Employees’ Group Life Insurance (FEGLI) Program, established in 1954. It’s the largest group life insurance program in the world, covering millions of Federal employees, retirees and many of their family members. The Federal Employees Health Benefits (FEHB) Program became effective in 1960. It is the largest employer-sponsored group health insurance program in the world, covering over 8 million Federal employees, retirees, former employees, family members, and former spouses”

Towers Financial Services is ready to help you understand all the moving parts of these benefits. Together, we can create a customized, long-term financial plan to help you secure the comfortable retirement you deserve.