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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:
The payouts went to retiring Joliet employees cashing out their unused vacation, sick leave banks and, in the cases of members of the Joliet Police Department, sizeable comp time accruals.