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The Federal Employees' Retirement System (FERS) is the retirement system for employees within the United States civil service. FERS became effective January 1, 1987, to replace the Civil Service Retirement System (CSRS) and to conform federal retirement plans in line with those in the private sector. FERS consists of three major components:
Currently funded on a pay-as-you-go basis, Sousa’s presentation indicated that 525 active and 723 retired Chelmsford town employees meet OPEB eligibility requirements, with the number of ...