Air Traffic Controller (ATC) – An employee of the Department of Transportation. ATCs are considered Special Provisions employees by the Federal government. They have a mandatory retirement age of 56.
Cost of Living Adjustment (COLA) – Federal employees and retirees may receive COLAs annually on their salary and annuity in retirement. COLAs are based on the Consumer Price Index for Wage Earners.
Consumer Price Index for Wage Earners (CPI/W) – Released by the Bureau of Labor Statistics annually. It is used to calculate the COLA increases for Federal employees and retirees.
Civil Service Retirement System (CSRS) – Federal Employees who began Federal service before January 1, 1987. CSRS employees do not contribute to Social Security.
CSRS Offset – Federal employees who served as a CSRS employee for at least 5 years, then left Federal service for at least 1 year, before returning again after January 1, 1987. CSRS Offset employees contribute to the CSRS retirement program and to Social Security.
Federal Employees Group Life Insurance (FEGLI) – Group life insurance plan for Federal employees and retirees. The plan has Basic, A, B, and C components.
Federal Employees Health Benefits (FEHB) – Group health insurance for Federal employees and retirees. Within this program, participants can choose from many carriers, including Blue Cross Blue Shield, Mail handlers, and more.
Federal Employee Retirement System (FERS) – Federal employees who were hired between January 1, 1987 and January 1, 2013. FERS employees contribute to Social Security and receive a 5% match on TSP contributions.
FERS Transfer – An employee who began service as a CSRS employee, but later transferred to the FERS retirement system.
Fire Fighter (FF) – Federal Fire Fighters are consider Special Provisions employees. They have a mandatory retirement age of 57.
Federal Long Term Care Insurance Program (FLTCIP) – Group long term care insurance for Federal employees and retirees.
Full Retirement Age (FRA) – Full retirement age is a term used by the Social Security Administration. Once a person reaches FRA they may receive unreduced Social Security benefits. FRA is based on year of birth and ranges from 65 to 67.
Individual Retirement Arrangement [Account] (IRA) – a vehicle used for retirement savings. There are several types of IRAs including, Traditional, Roth, SEP, and SIMPLE.
Law Enforcement Officer (LEO) – Federal Law Enforcement Officers are considered Special Provisions employees. They have a mandatory retirement age of 57.
Leave and Earnings Statement (LES) – Paystub provided to Federal employees each pay period.
Leave Service Computation Date (LSCD) – The date used by the payroll office to determine how many hours of leave time employees receive. This date is usually located on your LES and may not be accurate for calculating your total years of creditable service for retirement purposes.
Long Term Care (LTC) – a range of services that provide care to those with chronic illness or disability.
Minimum Retirement Age (MRA) – Used by OPM to determine the earliest date a FERS employee may retire. MRA is based on year of birth and ranges from 55 to 57.
Office of Personnel Management (OPM) – Federal agency that processes retirement applications and service history requests.
Required Minimum Distribution (RMD) – Participants must withdraw funds from their TSP, 401(k), and IRAs beginning April 1st of the year following the year they reach age 70 ½ and every year after.
Retirement Service Computation Date (RSCD) – This date is used to calculate creditable service for use in annuity computations. RSCD may differ from LSCD depending on service history.
Survivor Annuity (SA) – The annuity left to a retiree’s spouse at death.
Special Retirement Supplement (SRS) – For FERS employees, the SRS bridges the gap between retirement and age 62, when Social Security eligibility begins. SRS is based on the Social Security benefit at age 62 and the employee’s years of FERS service.
Thrift Savings Plan (TSP) – The 401(k) program provided to Federal employees. FERS employees receive a match of up to 5% of contributions. Fund choices inside the TSP include the G, S, C, I, F, and L funds.
Voluntary Contribution Program (VCP) – For CSRS employees, additional savings program provided by the government. Employees may contribute up to 10% of lifetime earnings into the VCP.