ABSTRACT
This chapter examines major economic security programs designed specifically for certain groups, including veterans, railroad workers, federal civilian employees, and state and local government employees. It explains the major benefits available to eligible military veterans and members of the armed forces. The chapter describes the major benefits under the Railroad Retirement Act and the Railroad Unemployment Insurance Act. It discusses the basic characteristics of the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS). The CSRS is a defined-benefit pension plan to which both employees and their employing agency contribute. The FERS is a defined-benefit pension plan that supplements compulsory coverage under Social Security. In addition, participants can contribute additional amounts into a tax-deferred thrift savings plan, with partial matching by the federal government. The chapter reviews the major features of retirement plans for state and local government employees.
