The first Federal Employees' Retirement System handbook, published in 1987.
Signed into law by President Reagan, the Federal Employees' Retirement System Act applies to employees hired after December 31, 1983. This is a departure from the Civil Service system and requires employees to participate in Social Security. It also permits FERS participants to contribute up to 10 percent of their earnings, on a tax-deferred basis, to a thrift savings plan - similar to a 4011(k) - with partial matching by the Government.
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