Federal Employees
’' Retirement System:
Summary of Recent Trends
Katelin P. Isaacs
Analyst in Income Security
January 11, 2011
Congressional Research Service
7-5700
www.crs.gov
98-972
CRS Report for Congress
Prepared for Members and Committees of Congress
Federal Employees’ Retirement System: Summary of Recent Trends
Summary
This report describes recent trends in the number of civil service annuitants and the financial
status of the Civil Service Retirement and Disability Fund (CSRDF).
•
In FY2006, 76% of civilian federal employees were enrolled in the Federal
Employees’ Retirement System (FERS), which covers employees hired since
1984. Twenty-four percent were enrolled in the Civil Service Retirement System
(CSRS), which covers only employees hired before 1984.
•
In FY2009, nearly 2.5 million people received civil service annuity payments.
Eighty-five percent of these individuals received annuities earned under CSRS.
•
More than one-third of all federal employee annuitants and survivor annuitants
reside in five states: California, Florida, Texas, Maryland, and Virginia.
•
The average civilian federal employee who retired in 2009 was 58.9 years old
and had completed 27.4 years of federal service.
•
The average monthly annuity payment to workers who retired under CSRS in
2009 was $3,617. Workers who retired under FERS received an average monthly
annuity of $1,242. Employees retiring under FERS had a shorter average length
of service than those under CSRS. FERS annuities are supplemented by Social
Security benefits and the Thrift Savings Plan (TSP).
•
At the end of FY2009, the balance of the CSRDF was $748 billion, an amount
equal to more than 11 times the amount of outlays from the fund during 2008.
The trust fund balance is expected to reach $806 billion by the end of FY2011.
•
From 1970 to 1985, the number of people receiving federal civil service annuities
rose from fewer than 1 million to nearly 2 million, an increase of 105%. Between
1985 and 2009 the number of civil service annuitants rose by 539,000, an
increase of 27%.
•
As of September 2008, civilian federal employment, including the Postal Service,
totaled 2.8 million workers. This was 100,000 more than the number of
employees in 2000, but 300,000 fewer than the number of employees in 1990.
•
Employees of the federal government are older on average than workers in the
private sector. Fifty-eight percent of all federal employees were aged 45 or older
in March 2009, and almost 25% were aged 55 or older. In contrast, only 42% of
wage and salary workers in the private sector were aged 45 or older in 2007, and
18% were aged 55 or older.
Congressional Research Service
Federal Employees’ Retirement System: Summary of Recent Trends
Contents
Fundamentals of the Civil Service Retirement Programs .............................................................1
Retirement System Coverage of Current Federal Employees .......................................................2
Retirement System Coverage of Current Civil Service Annuitants ...............................................3
State of Residence of Civil Service Annuitants ............................................................................4
Average Age and Years of Service at Retirement .........................................................................5
Average Annuity Amounts under CSRS and FERS......................................................................6
Average Age at Retirement of New Federal Retirees, 1990 to 2009..............................................7
Total and Average Annuity Payments to Retirees and Survivors in 2009 ......................................8
Cost-of Living Adjustments under CSRS and FERS....................................................................9
Income and Expenditures of the Civil Service Retirement and Disability Fund .......................... 10
Recent Trends in the Balance of the Civil Service Retirement and Disability Fund .................... 12
Number of Civil Service Annuitants and Total Annuity Payments, 1970 to 2008........................ 13
Civilian Federal Employment, 1960 to 2008.............................................................................. 15
Age Distribution of Executive Branch Employees ..................................................................... 16
Tables
Table 1. Retirement System Coverage of Federal Employees, by Fiscal Year ...............................3
Table 2. Retirement System Coverage of Civil Service Annuitants, FY2009 ................................3
Table 3. State of Residence of Civil Service Annuitants, 2009 .....................................................4
Table 4. Number, Average Age and Years of Service, and Average Annuity of Civil
Service Annuitants Who Retired in 2009 ..................................................................................6
Table 5. Average Age at Retirement for New Federal Retirees, 1990 to 2009 ...............................8
Table 6. Average Monthly Annuity Payments to Retirees and Survivors in 2009 ..........................8
Table 7. Cost-of-Living Adjustments under CSRS and FERS ......................................................9
Table 8. Income and Expenditures of the Civil Service Retirement and Disability Fund,
2009-2011.............................................................................................................................. 11
Table 9. Income and Expenditures of the Civil Service Retirement Fund, 1990 to 2011............. 12
Table 10. Annuitants and Annuity Payments, 1970 to 2011 ........................................................ 15
Table 11. Civilian Federal Employment, 1960 to 2008............................................................... 16
Table 12. Age Distribution of Executive Branch Employees ...................................................... 17
Contacts
Author Contact Information ...................................................................................................... 17
Acknowledgments .................................................................................................................... 17
Congressional Research Service
Federal Employees’ Retirement System: Summary of Recent Trends
Fundamentals of the Civil Service Retirement
Programs
The Civil Service Retirement System (CSRS) was established by P.L. 66-215 in 1920, 15 years
before Congress created the Social Security system for workers in the private sector. Because
CSRS was designed to provide both retirement and disability benefits, federal employees were
excluded from participating in Social Security. State and local governments were permitted to
bring their employees into the Social Security program in the early 1950s, and today about threefourths of state and local government employees are covered by Social Security.
Summary of Recent Trends
January 23, 2015
(98-972)
Contents
Tables
- Table 1. Retirement System Coverage of Federal Employees, by Fiscal Year
- Table 2. Retirement System Coverage of Civil Service Annuitants, FY2013
- Table 3. State of Residence of Civil Service Annuitants, FY2013
- Table 4. Number, Average Age and Years of Service, and Average Annuity of Civil Service Annuitants Who Retired in FY2013
- Table 5. Average Age at Retirement for New Federal Retirees, by Fiscal Year
- Table 6. Monthly Annuity Payments to Retirees and Survivors in FY2013
- Table 7. Cost-of-Living Adjustments Under CSRS and FERS
- Table 8. Receipts and Obligations of the Civil Service Retirement and Disability Fund, FY2013-FY2015
- Table 9. Income and Expenses of the Civil Service Retirement and Disability Fund, FY1990-FY2015
- Table 10. Annuitants and Annuity Payments, by Fiscal Year
- Table 11. Civilian Federal Employment, by Fiscal Year
- Table 12. Age Distribution of CSRS and FERS Employees, FY2012
Summary
This report describes recent trends in the characteristics of annuitants and current employees covered by the Civil Service Retirement System (CSRS) and the Federal Employees' Retirement System (FERS) as well as the financial status of the Civil Service Retirement and Disability Fund (CSRDF).
- In FY2012, 90% of current civilian federal employees were enrolled in FERS, which covers employees hired since 1984. Ten percent were enrolled in CSRS, which covers only employees hired before 1984.
- In FY2013, more than 2.5 million people received civil service annuity payments, including 1,997,381 employee annuitants and 565,701 survivor annuitants. Seventy-eight percent of these individuals received annuities earned under CSRS.
- About one-third of all federal employee annuitants and survivor annuitants reside in five states: California, Texas, Florida, Maryland, and Virginia.
- The average civilian federal employee who retired in FY2013 was 60.6 years old and had completed 26.5 years of federal service.
- The average monthly annuity payment to workers who retired under CSRS in FY2013 was $4,261. Workers who retired under FERS received an average monthly annuity of $1,493. Employees retiring under FERS had a shorter average length of service than those under CSRS. FERS annuities are supplemented by Social Security benefits and the Thrift Savings Plan (TSP).
- At the end of FY2013, the balance of the CSRDF was $836 billion, an amount equal to more than 11 times the amount of outlays from the fund that year. The trust fund balance is expected to reach $849 billion by the end of FY2014.
- From FY1970 to FY1985, the number of people receiving federal civil service annuities rose from fewer than 1 million to nearly 2 million, an increase of 105%. Between FY1985 and FY2011, the number of civil service annuitants rose by 620,000, an increase of about 31%.
- In FY2012, civilian federal employment, including the Postal Service, totaled 2.76 million workers. This was 53,000 more than the number of employees in FY2000, but 211,000 fewer than the number of employees in FY1994.
- Almost all (99.9%) CSRS employees were aged 45 or older in FY2012, compared with 60% of FERS employees who were aged 45 or older (40% of FERS employees were younger than 45). Thirty-nine percent of CSRS employees were aged 60 or older, whereas 11% of FERS employees were in this age range.
Federal Employees' Retirement System: Summary of Recent Trends
Fundamentals of the Civil Service Retirement Programs
The Civil Service Retirement System (CSRS) was established by P.L. 66-215 in 1920, 15 years before Congress created the Social Security system for workers in the private sector. Because CSRS was designed to provide both retirement and disability benefits, federal employees were excluded from participating in Social Security. State and local governments were permitted to bring their employees into the Social Security program in the early 1950s, and today about three-fourths of state and local government employees are covered by Social Security.
In the Social Security Amendments of 1983 (P.L. 98-21), Congress mandated participation in
Social Security by all civilian federal employees initially hired on or after January 1, 1984. To
coordinate federal employee retirement benefits with Social Security, Congress directed the
development of a new federal employee retirement system with Social Security as the
cornerstone. The result of this effort was the Federal Employees
’' Retirement System (FERS) Act
of 1986 (P.L. 99-335). The FERS is composed of three elements: (1) Social Security, (2) the
FERS basic retirement annuity, and (3) the Thrift Savings Plan (TSP).
All
Most permanent federal employees hired after December 31, 1983, are enrolled in the FERS, as are
employees who voluntarily switched from CSRS to FERS during
“"open seasons
”" in 1987 and
1998.
11 Under FERS, workers who have completed at least 30 years of service can retire at the
plan’ plan's minimum retirement age. The minimum retirement age was 55 for workers born before
1948, and it is scheduled to rise to 57 for those born in 1970 or later. In
20112015, the minimum
retirement age is 56. Employees with 20 or more years of service can retire at the age of 60, and
those with at least 5 years of service can retire at the age of 62. Federal employees and former
employees who have completed at least 10 years of service can receive a reduced FERS annuity
at the minimum retirement age. For those who choose this option, the FERS annuity is
permanently reduced by 5% multiplied by the number of years between the worker
’'s age at
retirement and
agethe age of 62. For example, the FERS annuity of an employee who retires at the age of
56 with fewer than 30 years of service would be permanently reduced by 5% multiplied by six, or
30%.
Under CSRS, the minimum retirement age is 55 for employees with 30 years of federal service,
age 60 for those with 20 years of service, and 62 for employees with at least 5 years of service.
CSRS has no provision for early retirement with a reduced benefit, except for special
circumstances such as a reduction in force. Agencies undergoing a reduction in force can, with
the approval of the Office of Personnel Management, offer retirement to employees aged 50 or
older with 20 or more years of service or at any age with 25 or more years of service. An
employee under CSRS who is offered and accepts an offer of voluntary early retirement has his or
her retirement annuity permanently reduced by 2% multiplied by the number of years between the
worker’ worker's age at retirement and
age 55.
the age of 55.
Under both CSRS and FERS, the amount of an employee
’'s retirement annuity is based on the
average of the individual
’'s highest three consecutive years of basic pay multiplied by
their years
1
P.L. 105-61 (October 10, 1997) authorized an open season to be held from July through December 1998.
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Federal Employees’ Retirement System: Summary of Recent Trends
his or her years of service and the rate at which benefits accrue for each year of service.
22 Under FERS, the accrual
rate is 1% of basic pay for each year of service. Workers with 20 or more years of service who
retire at the age of 62 or later are credited with an accrual rate of 1.1% for each year of service.
For example, a worker under FERS who retires at 61 with 29 years of service will receive a FERS
annuity equal to 29% of his or her high-three average pay. Delaying retirement by one year would
increase the annuity to 33% of high-three average pay (30
X× 1.1 = 33.0).
Under CSRS, the benefit accrual rate increases with length of service. Workers accrue benefits
equal to 1.5% of high-three average pay for each of the first 5 years of service; 1.75% for the
6th
through 10th6th through 10th years of service, and 2.0% of high-three average pay for each year of service after
the
10th10th year. This yields a pension equal to 56.25% of high-three average pay
afterfor 30 years of
federal service under CSRS. Accrual rates are lower under FERS than under CSRS because
employees under FERS also earn Social Security retirement benefits.
For all federal workers enrolled in FERS, the agencies where they are employed contribute an
amount equal to 1% of the employees
’' basic pay to the TSP, even if the employees make no
voluntary contributions to the TSP. In
20112015, workers under FERS or CSRS can contribute up to
$16,500 $18,000 to the TSP.
33 Workers aged 50 and older can contribute an additional $
5,5006,000 to the TSP.
All
Except in the case of the Roth TSP option, all contributions to the TSP are made on a pre-tax basis, and neither the employee
’'s contribution
nor any investment earnings are taxed until the money is withdrawn from the account.
In
Under the Roth TSP option, however, employee contributions are made with after-tax income. Qualified distributions from the Roth TSP option—generally, distributions taken five or more years after the participant's first Roth contribution and after he or she has reached the age of 59½—are tax-free.
In addition, the first 5% of employee pay contributed to the TSP generates agency matching
contributions for workers under FERS.
44 Workers who are under CSRS can contribute to the TSP,
but they receive no matching contributions from their employing agencies.
Retirement System Coverage of Current Federal
Employees
Employees
Because enrollment in CSRS has been closed to new entrants since 1984, the proportion of
federal workers covered by FERS has been rising and coverage under CSRS has been declining.
(See Table 1.) FY1995 was the first year in which a majority of civilian federal employees (51%)
were enrolled in FERS. In
FY2006, 75.6% of federal employees were enrolled in FERS.
2
High-three average pay is based on nominal (current) dollars rather than indexed (constant) dollars.
Employee contributions to the TSP are subject to the annual limit on salary deferrals established under Internal
Revenue Code § 402(g).
4
All employees covered by FERS receive “agency automatic contributions” of 1% of pay. Employee contributions are
matched dollar-for-dollar on the first 3% of pay contributed and at $.50 on the dollar on the next 2% of pay contributed.
Thus, the maximum agency contribution to the TSP is 5% of employee pay.
3
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Federal Employees’ Retirement System: Summary of Recent Trends
Table 1. Retirement System Coverage of Federal Employees, by Fiscal Year
Covered Active Employeesa
FY2006
Percentage distribution
FY2004
CSRS
FERS
650,000
2,014,000
24.4
795,000
Percentage distribution
FY2002
Percentage distribution
FY2000
Percentage distribution
FY1998
Percentage distribution
FY1996
Percentage distribution
FY1994
Percentage distribution
Total
2,664,000
75.6
1,875,000
100
2,670,000
29.8
70.2
100
897,000
1,717,000
2,614,000
34.0
66.0
100
961,000
1,629,000
2,590,000
37.1
62.9
100
1,108,000
1,550,000
2,658,000
41.7
58.3
100
1,235,000
1,385,000
2,620,000
47.1
52.9
100
1,402,000
1,296,000
2,698,000
52.0
48.0
100
Source: FY2012, 90% of federal employees were enrolled in FERS.
Table 1. Retirement System Coverage of Federal Employees, by Fiscal Year
Covered Active Employeesa
CSRS
FERS
Total
FY2012
274,000
2,477,000
2,751,000
Percentage distribution
10.0
90.0
100
FY2010
373,000
2,458,000
2,831,000
Percentage distribution
13.2
86.8
100
FY2008
477,000
2,195,000
2,672,000
Percentage distribution
17.9
82.1
100
FY2006
650,000
2,014,000
2,664,000
Percentage distribution
24.4
75.6
100
FY2004
795,000
1,875,000
2,670,000
Percentage distribution
29.8
70.2
100
FY2002
897,000
1,717,000
2,614,000
Percentage distribution
34.0
66.0
100
FY2000
961,000
1,629,000
2,590,000
Percentage distribution
37.1
62.9
100
FY1998
1,108,000
1,550,000
2,658,000
Percentage distribution
41.7
58.3
100
FY1996
1,235,000
1,385,000
2,620,000
Percentage distribution
47.1
52.9
100
FY1994
1,402,000
1,296,000
2,698,000
Percentage distribution
52.0
48.0
100
Source: Office of Personnel Management, Federal Civilian Workforce Statistics: The Fact Book
, various years.
a.
, various years, and Annual Report of the Board of Actuaries of the Civil Service Retirement and Disability Fund, various years.
a. Includes U.S. Postal Service. Does not include employees on leave without pay.
Retirement System Coverage of Current Civil
Service Annuitants
Although the majority of current federal employees are enrolled in FERS, most retired federal
workers and their surviving dependents receive benefits that were earned under CSRS. In
FY2000, 82 FY2013, 74% of employee annuitants were receiving pension benefits that were accrued under
CSRS, whereas
just 1826% had retired under FERS. (See Table 2.) The number of FERS annuitants
is comparatively small because the FERS is still a relatively new program when compared with
the average length of a worker
’'s career. The program was established by the Federal Employees
’
' Retirement System Act of 1986, and was made retroactive for all employees initially hired on or
after January 1, 1984.
Table 2. Retirement System Coverage of Civil Service Annuitants,
FY2009
CSRS
Employee annuitants
Percentage
Survivor annuitants
Percentage
Total annuitants
Percentage
FERS
Total
1,540,830
337,425
1,878,255
82.0
18.0
100
569,720
33,494
603,214
94.4
5.6
100
2,110,550
370,919
2,481,469
85.1
14.9
100
Source: U.S. Office of Personnel Management.
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Federal Employees’ Retirement System: Summary of Recent Trends
State of Residence of Civil Service Annuitants
More than 2.4 million people received civil service annuities in 2009, either as retired federal
employees, surviving spouses, or surviving dependents. California had the largest number of
annuitants with 214,207 and Vermont had the fewest with 4,315. Five states—California, Florida,
Texas, Maryland, and Virginia—accounted for more than one-third of all civil service annuitants
in 2009. (See Table 3.)
Table 3. State of Residence of Civil Service Annuitants, 2009
State
Alabama
Number of Annuitants
Percentage of National Total
58,434
2.3%
Alaska
7,472
0.3%
Arizona
52,242
2.1%
Arkansas
24,834
1.0%
California
214,207
8.6%
Colorado
46,940
1.9%
Connecticut
14,648
0.6%
8,759
0.4%
43,391
1.7%
Florida
165,100
6.6%
Georgia
80,977
3.2%
Hawaii
24,677
1.0%
Idaho
13,877
0.6%
Illinois
66,401
2.7%
Indiana
35,827
1.4%
Iowa
20,245
0.8%
Kansas
24,210
1.0%
Kentucky
32,784
1.3%
Louisiana
26,224
1.1%
Maine
13,631
0.5%
152,662
6.1%
Massachusetts
43,392
1.7%
Michigan
41,947
1.7%
Minnesota
27,534
1.1%
Mississippi
25,143
1.0%
Missouri
53,010
2.1%
Montana
12,219
0.5%
Nebraska
13,278
0.5%
Nevada
21,409
0.9%
Delaware
District of Columbia
Maryland
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Federal Employees’ Retirement System: Summary of Recent Trends
State
Number of Annuitants
Percentage of National Total
New Hampshire
12,128
0.5%
New Jersey
54,613
2.2%
New Mexico
27,498
1.1%
New York
95,673
3.8%
North Carolina
70,223
2.8%
North Dakota
6,178
0.2%
Ohio
73,799
3.0%
Oklahoma
48,687
1.9%
Oregon
32,643
1.3%
Pennsylvania
106,716
4.3%
Rhode Island
8,628
0.3%
South Carolina
43,001
1.7%
South Dakota
9,759
0.4%
44,756
1.8%
Texas
163,319
6.5%
Utah
34,809
1.4%
4,315
0.2%
139,413
5.6%
Washington
64,630
2.6%
West Virginia
16,997
0.7%
Wisconsin
26,037
1.0%
Wyoming
5,622
0.2%
42,318
1.7%
Tennessee
Vermont
Virginia
U.S. Territories and other countries
Total
2,497,236
100%
Source: Office of Personnel Management.
Average Age and Years of Service at Retirement
More than 87,907 civilian federal employees (including U.S. Postal Service employees) retired
during FY2009. (See Table 4.) Of this number, 57,854 (66%) were normal retirements5 and
another 12,624 (14%) were voluntary early retirements. Under CSRS, normal retirement can
occur as early as age 55 for an employee with 30 years of service. Under FERS, the minimum
retirement age is currently 56, and it will increase to 57 for workers born in 1970 or later. Under
both programs, normal retirement can be taken at age 60 with 20 years of service or age 62 with
five years of service. The average age of workers taking voluntary, normal retirement in 2009 was
60.2 for employees under CSRS and 63.2 for those under FERS. Workers taking normal
5
Normal retirements include all retirements except disability retirements, voluntary early retirements, involuntary
retirements, and special provision retirements.
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Federal Employees’ Retirement System: Summary of Recent Trends
retirement under CSRS in 2009 had completed an average of 34.8 years of service, whereas those
retiring under FERS had an average of 20.2 years of service.
More than 12,000 federal employees took voluntary early retirement in 2009. These workers were
younger on average (54.0 years old for CSRS employees; 54.8 years old for FERS employees)
than those who took normal retirement, and their average length of service (30.0 years for CSRS
employees; 24.4 years for FERS employees) was less than that of those who took normal
retirement. Approximately 10% of all retirements among federal employees in 2009 were taken
for reasons of disability. CSRS disability retirees were, on average, 53.3 years old with 27 years
of service. The average age of FERS disability retirees, who had 15 years of service, was 50.5.
Involuntary retirements (such as those resulting from agency down-sizing) accounted for 1.8% of
all retirements by federal employees in 2009.
Average Annuity Amounts under CSRS and FERS
The average monthly annuity among civilian federal employees who retired under CSRS in 2009
was $3,619, whereas new FERS annuitants received an average annuity of $1,242 per month.
Employees retiring under CSRS received larger annuities than those covered by FERS both
because of their longer average length of service and because CSRS was designed to provide an
adequate retirement income from a single source. FERS was designed to provide a smaller
annuity than CSRS for any given length of service and level of compensation because federal
employees under FERS participate in Social Security and they also can elect to save for
retirement on a pre-tax basis with agency matching contributions through the TSP.6 Employees
enrolled in FERS who retire at the minimum retirement age or older with 30 years of federal
service also receive a supplement to their FERS annuity between their retirement date and age 62.
The supplement is equal to the Social Security benefit that they earned while employed by the
federal employment and enrolled in FERS. Employees who retire at age 60 or 61 with 20 or more
years of service also receive this supplement. The FERS supplement terminates at age 62,
regardless of whether the individual applies for Social Security at that age.
Table 4. Number, Average Age and Years of Service, and Average Annuity of Civil
Service Annuitants Who Retired in 2009
Civilian Federal Retirements
Normal Retirements
Number
Average age at retirement
Average years of service
Average monthly annuity
Disability Retirements
Number
Average age at retirement
Average years of service
CSRS
FERSa
Average or Total
37,635
60.2
34.8
$3,891
20,219
63.2
20.2
$1,086
57,854
61.2
29.7
$2,969
1,413
53.3
27.0
7,576
50.5
15.0
8,989
50.9
16.9
6
In 2011, federal employees can contribute up to $16,500 of pay (pre-tax) to the TSP. Employees enrolled in FERS
receive matching contributions up to a maximum of 5% of pay. Employees enrolled in CSRS do not receive matching
contributions. For more information on the TSP, see CRS Report RL30387, Federal Employees’ Retirement System:
The Role of the Thrift Savings Plan, by Katelin P. Isaacs.
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Federal Employees’ Retirement System: Summary of Recent Trends
Civilian Federal Retirements
Average monthly annuity
Involuntary Retirements
Number
Average age at retirement
Average years of service
Average monthly annuity
Voluntary Early Retirements
Number
Average age at retirement
Average years of service
Average monthly annuity
Special Provision Retirements
Number
Average age at retirement
Average years of service
Average monthly annuity
Total Retirements in 2009b
Number
Average age at retirement
Average years of service
Average monthly annuity
CSRS
FERSa
Average or Total
$2,341
$1,379
$1,530
982
56.8
30.4
$3,412
605
56.8
24.8
$1,456
1,587
56.8
28.3
$2,666
7,686
54.0
30.0
$2,584
4,938
54.8
24.4
$1,094
12,624
54.3
27.8
$2,001
1,535
54.4
30.6
$5,867
1,692
53.6
24.9
$3,411
3,227
54.0
27.6
$4,579
50,608
58.9
33.1
$3,619
37,299
58.8
19.6
$1,242
87,907
58.9
27.4
$2,610
Source: CRS analysis of data from the Office of Personnel Management.
a.
Employees covered by FERS also participate in Social Security. In January 2011, the average monthly Social
Security benefit for workers retiring at age 62 was $1,140.
b.
Includes other, unclassified retirements that are not shown separately.
Average Age at Retirement of New Federal Retirees,
1990 to 2009
In 2009, the average age of federal employees taking normal retirement was 61.2, almost the
same as in 1990. (See Table 5.) The average age for all retirements in 2009 was 58.9, also the
same as in 1990. Federal agencies undergoing a major reorganization can request permission
from the Office of Personnel Management to offer their employees voluntary early retirement or
voluntary separation incentive payments (“buyouts”). Under voluntary early retirement, an
employee with 20 or more years of service can retire as early as age 50. Voluntary separation
incentives are cash payments of up to $25,000 (before taxes) offered to employees who retire or
otherwise separate from federal employment voluntarily. Because these incentives are generally
offered to retirees who have not yet reached the combined age and years of service that are
required for normal retirement, they tend to reduce the average age of employees who retire in
any given year.
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Federal Employees’ Retirement System: Summary of Recent Trends
Table 5. Average Age at Retirement for New Federal Retirees, 1990 to 2009
All Retirements
Normal Retirements
Normal Retirements
as a Percentage of All
Retirements
1990
59.4
61.3
79.0
1994
58.1
61.8
56.8
1998
57.6
61.5
57.1
2002
58.1
60.6
67.6
2006
59.1
61.0
73.1
2007
59.4
61.1
75.6
2009
58.9
61.2
65.8
Average Age at Retirement
Fiscal Year
Source: Office of Personnel Management.
Note: Normal retirements include all retirements except disability retirements, voluntary early retirements,
involuntary retirements, and special provision retirements.
Total and Average Annuity Payments to Retirees
and Survivors in 2009
The Civil Service Retirement and Disability Fund (CSRDF) paid annuities to 1.88 million retired
federal employees and 603,214 survivor annuitants in FY2009. Of these beneficiaries, 2.111
million (85%) received benefits earned under CSRS and 370,919 (15%) received benefits under
FERS. Employee annuitants under CSRS received an average monthly annuity of $2,899.
Survivors of CSRS annuitants received an average monthly CSRS annuity of $1,360. Employee
annuitants under FERS received payments, averaging $1,051 per month and the average survivor
benefit under FERS was $440. As was noted earlier, FERS benefits are smaller than those under
CSRS both because employees retiring under FERS had fewer years of service than workers who
retired under CSRS, and because FERS benefits are intended to be supplemented by Social
Security and the TSP.7
Table 6. Average Monthly Annuity Payments to Retirees and Survivors in 2009
(in thousands of dollars)
Retired Employees Annuitants
Percentage of Total
CSRS
FERS
1,540,830
337,425
All Retirees
and Survivors
1,878,255
82.0
12.0
Mean monthly annuity
$2,899
$1,051
$2,567
Median monthly benefit
$2,534
$766
$2,255
569,720
33,494
603,214
Survivor Annuitants
Percentage of Total
Mean monthly benefit
100
94.4
5.6
100
$1,360
$440
$1,309
7
In December 2009, the average monthly Social Security benefit among all retired workers was $1,164. The average
monthly benefit for a nondisabled surviving spouse was $1,124.
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Federal Employees’ Retirement System: Summary of Recent Trends
Median monthly benefit
Total Annuitants
Percentage of Total
All Retirees
and Survivors
CSRS
FERS
$1,206
$341
$1,163
2,110,550
370,919
2,481,469
85.1
14.9
100
Source: Office of Personnel Management, Statistical Abstract of Federal Employee Benefits Program.
Cost-of Living Adjustments under CSRS and FERS
Cost-of-living adjustments (COLAs) for both CSRS and FERS are based on the rate of inflation
as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPIW). COLAs are determined by the percentage change in the average monthly CPI-W during the
third quarter (July to September) of the current calendar year compared to the third quarter of the
last year in which a COLA was applied. If consumer prices as measured by the CPI-W do not
increase between the third quarter of the base year and the third quarter of the current calendar
year, there is no COLA for annuities paid under CSRS or FERS. The “effective date” for COLAs
is December, but they first appear in benefit checks issued in January.
Under FERS, COLAs are paid only to retired workers who are 62 or older and to disabled and
survivor beneficiaries of any age. COLAs paid under FERS are less than the rate of inflation
whenever the increase in the CPI-W is greater than 2.0%. If the rate of inflation during the
measurement period is between 2.0% and 3.0%, the FERS COLA is 2.0%. If inflation is greater
than 3.0%, then the COLA for FERS benefits is equal to the CPI-W minus one percentage point.8
From the third quarter of 2008 (the last year in which a COLA was applied) to the third quarter of
2010, the CPI-W fell by 0.6%. Therefore, there is no automatic COLA under either CSRS or
FERS in January 2011. (See Table 7.)
Table 7. Cost-of-Living Adjustments under CSRS and FERS
(in percent)
Date Paid
CSRS COLA
FERS COLA
Change in CPI from
3rd Qtr to 3rd Qtr
January 1990
4.7%
3.7%
4.7%
January 1991
5.4
4.4
5.4
January 1992
3.7
2.7
3.7
January 1993
3.0
2.0
3.0
April 1994
2.6
2.0
2.6
April 1995
2.8
2.0
2.8
April 1996
2.6
2.0
2.6
January 1997
2.9
2.0
2.9
January 1998
2.1
2.0
2.1
8
Workers who switched from CSRS to FERS receive a COLA that is weighted by the proportion of their federal
service that was spent under each retirement system.
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Federal Employees’ Retirement System: Summary of Recent Trends
Date Paid
CSRS COLA
FERS COLA
Change in CPI from
3rd Qtr to 3rd Qtr
January 1999
1.3
1.3
1.3
January 2000
2.4
2.0
2.4
January 2001
3.5
2.5
3.5
January 2002
2.6
2.0
2.6
January 2003
1.4
1.4
1.4
January 2004
2.1
2.0
2.1
January 2005
2.7
2.0
2.7
January 2006
4.1
3.1
4.1
January 2007
3.3
2.3
3.3
January 2008
2.3
2.0
2.3
January 2009
5.8
4.8
5.8
January 2010
0.0
0.0
-2.1
January 2011
0.0
0.0
-0.6
Source: Office of Personnel Management.
Income and Expenditures of the Civil Service
Retirement and Disability Fund
The CSRDF began FY2009 with a balance of $723.2 billion. By law, these assets are invested in
special-issue U.S. Treasury bonds. The balance of the trust fund represents budget authority
available to pay benefits under both CSRS and FERS. The fund’s year-end 2009 balance of
$748.2 billion was more than 11 times the value of the CSRS and FERS annuities paid from the
fund that year.
The CSRDF receives income from several sources. Some of the fund’s income results from cash
transactions. Other income comes from intra-governmental transfers. The largest cash transaction
($3.5 billion in 2009) consists of employee contributions to CSRS and FERS. These contributions
are equal to 7.0% of base pay under CSRS and 0.8% of base pay under FERS.9 Smaller cash
payments are received from the District of Columbia to finance retirement benefits for its
employees and from additional cash contributions made by federal workers. These usually are
former federal employees who are returning to government service and who had previously
withdrawn their retirement contributions under CSRS.
The civil service retirement trust fund’s largest sources of income are (1) interest payments on the
U.S. Treasury bonds it holds, (2) annual payments from the general fund of the Treasury to make
up for the insufficient funding of benefits accrued under CSRS, and (3) payments from federal
agencies and the Postal Service on behalf of their employees. Agency contributions under CSRS
are equal to 7.0% of payroll, and are supplemented by transfers from the general fund of the
9
Under the Balanced Budget Act of 1997 (P.L. 105-33), employee contribution rates under CSRS and FERS rose by
0.25% in January 1999 and by a further 0.15% in January 2000. They were scheduled to increase by another 0.1% in
January 2001 before reverting to their previous levels—7.0% under CSRS and 0.8% under FERS—after December 31,
2002, but the increased contributions were repealed by P.L. 106-346.
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Federal Employees’ Retirement System: Summary of Recent Trends
Treasury equal to approximately 10% of payroll. Agency contributions to FERS are required by
law to be equal to the full actuarial cost of the program minus employee contributions. Agency
contributions to FERS were equal to 11.2% of pay in 2009. These agency contributions recently
increased to 11.7% of pay, as of October 1, 2010. These three sources of income are intragovernmental transfers that increase the fund’s budget authority, as recorded in the accounts of
the U.S. Treasury. The fund receives Treasury bonds as a record of this budget authority, which it
redeems periodically as annuity payments come due.10
Expenditures from the CSRDF consist mainly of payments to retired federal employees and their
surviving dependents. Annuity payments totaled $67.6 billion in 2009. Payments to the estates of
decedents and payments to separating employees accounted for another $293 million. The
administrative expenses of the fund were $142 million, or 0.21% of expenditures.
Table 8. Income and Expenditures of the Civil Service Retirement and Disability
Fund, 2009-2011
(in millions of dollars)
FY2009
FY2010
(est.)
FY2011
(est.)
$723,194
$748,195
$777,178
$3,459
$3,776
$3,602
$38
$27
$26
$586
$575
$584
Agency contributions
$17,368
$16,848
$17,555
Postal Service (total)
$2,955
$3,937
$4,208
Interest on securities
$36,538
$41,512
$41,824
General fund receipts
$31,422
$32,050
$33,150
Re-employment offset
$44
$46
$46
$93,061
$99,323
$101,469
Employee and survivor annuities
-$67,618
-$69,956
-$72,169
Refunds and payments to estates
-$293
-$282
-$278
Administration
-$142
-$95
-$103
Total expenditures from the fund
-$68,060
-$70,340
-$72,557
Ending balance
$748,195
$777,178
$806,090
Beginning balance
Income to the fund
Cash transactions:
Employee contributions
District of Columbia
Other employee deposits
Intragovernmental transfers:
Total income to the fund
Expenditures from the fund
Source: U.S. Office of Management and Budget, Budget of the United States Government, FY2011.
10
See CRS Report RL30023, Federal Employees’ Retirement System: Budget and Trust Fund Issues, by Katelin P.
Isaacs.
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Federal Employees’ Retirement System: Summary of Recent Trends
Recent Trends in the Balance of the Civil Service
Retirement and Disability Fund
Between 1990 and 2009, the balance of the CSRDF rose from $236 billion to $748 billion, an
increase of 217%. (See Table 9.) The balance of the fund has been rising partly because the civil
service retirement programs are in a long-term transition from pay-as-you-go financing under
CSRS to advance-funding under FERS.
Until 1969, CSRS benefits were funded on a pay-as-you-go basis with a small reserve equal to
about one year of benefit payments to meet unexpected contingencies. Employee contributions
and agency contributions were less than the actuarial value of the benefits that were accrued each
year by federal employees. In 1969, P.L. 91-93 mandated annual payments to the fund from the
general revenues of the U.S. Treasury to make up most of this shortfall.11 When Congress passed
the legislation that created FERS in 1986, the law required that the full actuarial value of benefits
accrued each year by federal employees under FERS (including the value of future COLAs) must
be funded by the sum of employee and agency contributions. The Office of Personnel
Management estimates that at some time in the 21st century, the trust fund will reach a steady
state in which it holds sufficient budget authority to finance about 18 to 20 years of retirement
and disability benefits.
Table 9. Income and Expenditures of the Civil Service Retirement Fund,
1990 to 2011
(in billions of dollars)
Fiscal Year
1990
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007a
2008
2009
2010b
2011b
CSRDF Income
CSRDF Expenditures
Ending Balance
$52.2
65.7
66.6
70.2
72.2
74.5
76.0
77.9
80.1
78.4
82.4
83.7
87.2
89.9
90.9
93.1
93.3
101.5
-$31.1
-38.4
-39.8
-41.7
-43.1
-43.9
-45.2
-47.4
-49.0
-50.4
-52.3
-54.8
-58.3
-78.4
-63.9
-67.6
-70.2
-72.4
$235.6
366.2
393.0
421.5
450.6
481.2
512.0
542.5
573.6
601.6
631.7
660.6
689.5
701.0
728.0
748.2
777.2
806.1
11
The Office of Management and Budget has estimated that employee and agency contributions and the transfers from
the general fund are sufficient to meet all of the actuarial costs of CSRS except for the increase in benefits represented
by COLAs.
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Federal Employees’ Retirement System: Summary of Recent Trends
Source: Office of Management and Budget, Budget of the United States Government, various years.
a.
Expenditures for 2007 include a $23 billion payment to the Postal Service Retiree Health Fund.
b.
Data for 2010 and 2010 are estimated.
Number of Civil Service Annuitants and Total
Annuity Payments, 1970 to 2008
The number of people receiving civil service annuity payments has risen more than 160% since
1970, but the rate of increase has slowed since 1985. (See
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Federal Employees’ Retirement System: Summary of Recent Trends
Table 10.) The rapid rise in the number of civil service annuitants from less than 1 million in
1970 to approximately 2 million in 1985 resulted from the increase in federal employment that
occurred between 1940 and 1955. Throughout the 1930s, civilian federal employment (including
postal employees) was less than 1 million. The first year in which there were more than 1 million
people in the federal workforce was 1940. By 1955, civilian federal employment had reached 2.4
million. After 1955, civilian federal employment increased much more slowly. It reached nearly 3
million in 1970, due in part to the war in Vietnam and the creation of such large-scale social
programs as Medicare and Medicaid in the 1960s. The slower but still steady increase in the
number of federal employees in the years between 1955 and 1970 had as one of its consequences
the steady increase in the number of civil service annuitants in the years since 1985. Between
1985 and 2008, the number of civil service annuitants rose from just under 2 million to almost 2.5
million.
Expenditures for civil service annuities have grown by a greater percentage than the number of
annuitants because they are affected not only by the number of people employed by the federal
government, but also by increases in average life-span, growth in real wages, and inflation. Costof-living adjustments—which have been applied to civil service annuities since 1962—increase
the nominal value of civil service annuities, but do not increase in the real value of these
annuities. COLAs are intended to keep purchasing power from eroding due to the effects of
inflation. 12
Under current law, the real value of a civil service annuity either remains constant (CSRS) or
declines (FERS) during retirement.13 Therefore, the increase in the real value of annuities has
been the result of increases in the average value of the “high-three” average pay on which these
annuities are based. Rates of increase in the high-three average pay of retiring federal employees
are in turn affected by (1) adjustments to pay for each grade-and-step level, (2) special pay
increases such as locality pay adjustments, (3) the distribution of federal employees among
various grade-and-step levels over time, and (4) average length of service (because each
additional year of service tends to increase the high-three average pay). The average real value of
civil service annuities per annuitant can be expected to decline in the future as a growing number
of new retirees will be workers who were enrolled in FERS rather than CSRS. FERS annuities are
smaller than CSRS annuities, but they are supplemented by Social Security benefits and the TSP.
12
Federal tax revenues increase each year partly as a result of inflation. Income tax brackets are indexed in recognition
of increases in personal income that result solely from inflation.
13
Some CSRS COLAs in the 1970s exceeded the rate of inflation because P.L. 91-93, enacted in 1969, called for
COLAs of “CPI plus one percentage point.” The additional one percentage point was repealed by P.L. 94-440, enacted
in 1976.
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Federal Employees’ Retirement System: Summary of Recent Trends
Table 10. Annuitants and Annuity Payments, 1970 to 2011
Year
Total Annuitants
(thousands)
Payments in Nominal
Dollars (millions)
Payments in Constant
2009 Dollars (millions)
1970
962
$2,746
$15,183
1975
1,391
7,048
28,104
1980
1,675
14,662
38,173
1985
1,971
23,012
44,881
1990
2,143
31,036
50,942
1995
2,311
38,319
53,941
2000
2,372
45,072
56,152
2001
2,380
47,244
57,229
2002
2,383
48,838
58,239
2003
2,290
50,248
58,585
2004
2,404
52,048
59,110
2005
2,423
54,593
59,968
2006
2,449
57,809
61,517
2007
2,463
60,860
62,970
2008
2,471
63,432
63,205
2009
2,510
67,618
67,618
2010a
2,533
69,956
68,584
2011a
2,557
72,169
69,571
Source: Office of Personnel Management and Office of Management and Budget.
Note: Depending on the day that the fiscal year begins, a year can have 11, 12, or 13 payments.
a.
Estimated number of annuitants and nominal outlays from the Budget of the United States.
Civilian Federal Employment, 1960 to 2008
Between 1990 and 2006, the number of civilian federal employees (including the U.S. Postal
Service, which participates in both CSRS and FERS) fell from 3.1 million to 2.7 million. (See
Table 11.) Civilian federal employment outside the Postal Service fell from 2.31 million in 1990
to 1.94 million in 2006, a decline of 16%. From 2006 to 2008, total federal employment rose
from 2.7 million to 2.8 million. Non-postal employment rose from 1.88 million to 1.96 million.
Employment in the judicial branch (34,000) exceeded employment in the legislative branch
(31,000) in 2006. From 1980 to 2008, employment in the legislative branch declined from 40,000
employees to 31,000 employees. Over the same period, employment in the judicial branch rose
from 15,000 to 34,000 employees.
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Federal Employees’ Retirement System: Summary of Recent Trends
Table 11. Civilian Federal Employment, 1960 to 2008
(Total employment, in thousands, as of September 30 each year)
Year
Legislative
Branch
Judicial
Branch
Executive
Branch
Postal
Service
Total
1960
23
5
1,808
563
2,399
1965
26
6
1,901
596
2,529
1970
31
7
2,203
726
2,967
1975
39
10
2,149
699
2,897
1980
40
15
2,161
660
2,876
1985
39
18
2,252
750
3,059
1990
38
24
2,250
817
3,129
1995
33
29
2,012
845
2,919
2000
31
32
1,778
861
2,702
2005
31
34
1,872
764
2,701
2006
29
34
1,880
757
2,700
2007
31
34
1,888
802
2,755
2008
31
34
1,960
775
2,800
Source: Office of Personnel Management.
Age Distribution of Executive Branch Employees
Employees of the federal government are older on average than workers in the private sector.
Forty-two percent of employees in the executive branch were under age 45 in March 2009.
Thirty-four percent were between the ages of 45 and 54, and 24% were aged 55 or older. (See
Table 12.) In contrast, according to data collected by the Bureau of the Census, 58% of wage and
salary workers in the private sector aged 21 and older were under age 45 in 2007. Twenty-three
percent of private sector employees were aged 45 to 54, and 19% were aged 55 and older.14
Under CSRS, an employee with 30 or more years of service can retire with an immediate,
unreduced annuity at age 55. The minimum retirement age under FERS is 56. In both CSRS and
FERS, an employee with 20 or more years of service can retire at 60. About one in three federal
employees will reach age 55 within 10 years, but not all of them will have 30 years of service at
that age. Of those who have 30 or more years of service, not all will retire as soon as they are
eligible. The average age among all federal employees who retired in 2009 was 59. The average
among those who took normal retirement—as opposed to early retirement or disability
retirement—was 61.15
14
CRS analysis of data from the Current Population Survey. Based on wage and salary workers employed in the
private sector.
15
Retirements other than normal retirements include disability retirements, voluntary early retirements, involuntary
retirements, special retirements for law enforcement officers and firefighters, and other unclassified retirements.
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Federal Employees’ Retirement System: Summary of Recent Trends
Table 12. Age Distribution of Executive Branch Employees
(Employees in thousands, as of March, 2009)
Under Age
45
45 -49
50 -54
55 -59
60 -64
65 or
older
Total
Number of
employees
822
325
338
275
151
60
1,971
Percent
41.7
16.5
17.1
14.0
7.7
3.0
100%
Age
Source: U.S. Office of Personnel Management.
Author Contact Information
Katelin P. Isaacs
Analyst in Income Security
kisaacs@crs.loc.gov, 7-7355
Acknowledgments
This report was originally prepared by former CRS Specialist Patrick Purcell. Please direct any inquiries to
the listed author.
Congressional Research Service
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FY2013
CSRS
FERS
Total
Employee annuitants
1,484,426
512,955
1,997,381
Percentage
74.3
25.7
100
Survivor annuitants
518,035
47,666
565,701
Percentage
91.6
8.4
100
Total annuitants
2,002,461
560,621
2,563,082
Percentage
78.1
21.9
100
Source: U.S. Office of Personnel Management, FY2013 Statistical Abstract of Federal Employee Benefits Programs.
Note: Does not include retirees in interim pay status.
State of Residence of Civil Service Annuitants
Approximately 2.6 million people received civil service annuities in FY2013, either as retired federal employees, surviving spouses, or surviving dependents. California had the largest number of annuitants with 215,424 and Vermont had the fewest with 4,518. Five states—California, Texas, Florida, Maryland, and Virginia—accounted for about one-third of all civil service annuitants in FY2013. (See Table 3.)
Table 3. State of Residence of Civil Service Annuitants, FY2013
State
Number of Annuitants
Percentage of National Total
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
U.S. Territories and other countries
Total
Source: Office of Personnel Management, FY2013 Statistical Abstract of Federal Employee Benefits Programs.
Note: Includes retirees in interim pay status.
Average Age and Years of Service at Retirement
In FY2013, 138,039 civilian federal employees (including U.S. Postal Service employees) retired. (See Table 4.) Of this number, 104,091 (75%) were normal retirements5 and another 11,604 (8%) were voluntary early retirements. Under CSRS, normal retirement can occur as early as the age of 55 for an employee with 30 years of service. Under FERS, the minimum retirement age is currently 56 years old, and it will increase to 57 years old for workers born in 1970 or later. Under both programs, normal retirement can be taken at the age of 60 with 20 years of service or the age of 62 with five years of service. The average age of workers taking voluntary, normal retirement in FY2013 was 61.3 for employees under CSRS and 63.7 for those under FERS. Workers taking normal retirement under CSRS in FY2013 had completed an average of 35.5 years of service, whereas those retiring under FERS had an average of 20.7 years of service.
More than 11,600 federal employees took voluntary early retirement in FY2013. These workers were younger on average (54.2 years old for CSRS employees; 55.0 years old for FERS employees) than those who took normal retirement. For CSRS employees their average length of service was less (31.7 years) than other CSRS employees who took normal retirement (35.5 years). For FERS employees, however, the average length of service of individuals taking early voluntary retirement was greater (25.5 years) than that of FERS employees who took normal retirement (20.7 years).6 Approximately 6% of all retirements among federal employees in FY2013 were taken for reasons of disability. CSRS disability retirees were, on average, 53.9 years old with 26.5 years of service. The average age of FERS disability retirees, who had 13.6 years of service, was 50.3. Involuntary retirements (such as those resulting from agency down-sizing) accounted for 1.2% of all retirements by federal employees in FY2013.
Average Annuity Amounts Under CSRS and FERS
The average monthly annuity among civilian federal employees who retired under CSRS in FY2013 was $4,261, whereas new FERS annuitants received an average annuity of $1,493 per month. Employees retiring under CSRS received larger annuities than those covered by FERS both because of their longer average length of service and because CSRS was designed to provide an adequate retirement income from a single source. FERS was designed to provide a smaller annuity than CSRS for any given length of service and level of compensation because federal employees under FERS participate in Social Security and they also can elect to save for retirement with agency matching contributions through the TSP.7 Employees enrolled in FERS who retire at the minimum retirement age or older with 30 years of federal service also receive a supplement to their FERS annuity between their retirement date and the age of 62. The supplement is equal to the Social Security benefit that they earned while employed by the federal government and enrolled in FERS. Employees who retire at the age of 60 or 61 with 20 or more years of service also receive this supplement. The FERS supplement terminates at the age of 62, regardless of whether the individual applies for Social Security at that age.
Table 4. Number, Average Age and Years of Service, and Average Annuity of Civil Service Annuitants Who Retired in FY2013
Civilian Federal Retirements
CSRS
FERSa
Average or Total
Normal Retirements
Number
52,230
51,861
104,091
Average age at retirement
61.3
63.7
NAb
Average years of service
35.5
20.7
NA
Average monthly annuity
$4,374
$1,334
NA
Disability Retirements
Number
395
8,359
NA
Average age at retirement
53.9
50.3
NA
Average years of service
26.5
13.6
NA
Average monthly annuity
$2,702
$1,567
NA
Involuntary Retirements
Number
495
1,221
NA
Average age at retirement
57.3
55.7
NA
Average years of service
31.0
22.7
NA
Average monthly annuity
$3,855
$1,609
NA
Voluntary Early Retirements
Number
3,121
8,483
11,604
Average age at retirement
54.2
55.0
NA
Average years of service
31.7
25.5
NA
Average monthly annuity
$3,227
$1,353
NA
Special Provision Retirementsc
Number
1,137
4,688
5,825
Average age at retirement
56.6
53.8
NA
Average years of service
31.7
24.5
NA
Average monthly annuity
$6,934
$3,611
NA
Total Retirements in FY2013d
Number
59,081
78,958
138,039
Average age at retirement
60.8
60.4
60.6
Average years of service
34.6
20.4
26.5
Average monthly annuity
$4,261
$1,493
$2,678
Source: CRS analysis of data from the Office of Personnel Management, FY2013 Statistical Abstract of Federal Employee Benefits Programs.
a. Employees covered by FERS also participate in Social Security. In January 2014, the average monthly Social Security benefit for workers retiring at the age of 62 was $1,241.
b. NA=not available.
c. Includes law enforcement officers, firefighters, air traffic controllers, and Members of Congress.
d. Includes other, unclassified retirements that are not shown separately.
Average Age at Retirement of New Federal Retirees
In FY2013, the average age of federal employees taking normal retirement was 61.3, which was the same as in FY1990. (See Table 5.) The average age for all retirements in FY2013 was 60.6, which was higher than in FY1990 (59.4). Federal agencies undergoing a major reorganization can request permission from the Office of Personnel Management to offer their employees voluntary early retirement or voluntary separation incentive payments ("buyouts"). Under voluntary early retirement, an employee with 20 or more years of service can retire as early as the age of 50. Voluntary separation incentives are cash payments of up to $25,000 (before taxes) offered to employees who retire or otherwise separate from federal employment voluntarily. Because these incentives are generally offered to retirees who have not yet reached the combined age and years of service that are required for normal retirement, they tend to reduce the average age of employees who retire in any given year.
Table 5. Average Age at Retirement for New Federal Retirees, by Fiscal Year
Fiscal Year
Average Age at Retirement
Normal Retirements as a Percentage of All Retirementsa
All Retirements
Normal Retirements
1990
59.4
61.3
79.0
1994
58.1
61.8
56.8
1998
57.6
61.5
57.1
2002
58.1
60.6
67.6
2006
59.1
61.0
73.1
2010
59.9
61.6
77.1
2011
60.5
61.8
80.1
2013
60.6
61.3
75.4
Source: Office of Personnel Management, Statistical Abstracts, Federal Employee Benefits Programs (various years).
Note: Normal retirements include all retirements except disability retirements, voluntary early retirements, involuntary retirements, and special provision retirements.
a. CRS analysis of information from Office of Personnel Management Statistical Abstracts (various years)
Total and Median Annuity Payments to Retirees and Survivors
The Civil Service Retirement and Disability Fund (CSRDF) paid annuities to 1,997,381 retired federal employees and 565,701 survivor annuitants in FY2013. Of these beneficiaries, 2,002,461 individuals (78%) received benefits earned under CSRS and 560,621 (22%) received benefits under FERS. Employee annuitants under CSRS received a median monthly annuity of $2,876. Survivors of CSRS annuitants received a median monthly CSRS annuity of $1,310. Employee annuitants under FERS received a median monthly payment of $952. The median survivor benefit under FERS was $390. As was noted earlier, FERS benefits are smaller than those under CSRS both because employees retiring under FERS had fewer years of service than workers who retired under CSRS, and because FERS benefits are intended to be supplemented by Social Security and the TSP.8
Table 6. Monthly Annuity Payments to Retirees and Survivors in FY2013
(in thousands of dollars)
CSRS
FERS
All Retirees and Survivors
Retired Employees Annuitants
1,484,426
512,955
1,997,381
Percentage of Total
74.3
25.7
100
Mean monthly annuity
$3,303
$1,238
$2,772
Median monthly benefit
$2,876
$952
$2,417
Survivor Annuitants
518,035
47,666
565,701
Percentage of Total
91.6
8.4
100
Mean monthly benefit
$1,484
$505
$1,401
Median monthly benefit
$1,318
$390
$1,245
Total Annuitants
2,002,461
560,621
2,563,082
Percentage of Total
78.1
21.9
100
Source: Office of Personnel Management, FY2013 Statistical Abstract of Federal Employee Benefits Program.
Cost-of Living Adjustments Under CSRS and FERS
Cost-of-living adjustments (COLAs) for both CSRS and FERS are based on the rate of inflation as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). COLAs are determined by the percentage change in the average monthly CPI-W during the third quarter (July to September) of the current calendar year compared with the third quarter of the last year in which a COLA was applied. If consumer prices as measured by the CPI-W do not increase (or decrease) between the third quarter of the base year and the third quarter of the current calendar year, there is no COLA for annuities paid under CSRS or FERS (and the base year used for the COLA calculation remains the last year that a COLA was applied). The "effective date" for COLAs is December, but they first appear in benefit checks issued in January.
Under FERS, COLAs are paid only to retired workers who are 62 or older and to disabled and survivor beneficiaries of any age. COLAs paid under FERS are less than the rate of inflation whenever the increase in the CPI-W is greater than 2.0%. If the rate of inflation during the measurement period is between 2.0% and 3.0%, the FERS COLA is 2.0%. If inflation is greater than 3.0%, then the COLA for FERS benefits is equal to the CPI-W minus one percentage point.9
From the third quarter of 2013 to the third quarter of 2014, the CPI-W increased by 1.7%. Therefore, the CSRS COLA beginning in January 2015 is 1.7%. The January 2015 FERS COLA is also 1.7%. (See Table 7.)
Table 7. Cost-of-Living Adjustments Under CSRS and FERS
(in percentage)
Date Paid
CSRS COLA
FERS COLA
Change in CPI from 3rd Qtr to 3rd Qtr
January 1990
4.7%
3.7%
4.7%
January 1991
5.4
4.4
5.4
January 1992
3.7
2.7
3.7
January 1993
3.0
2.0
3.0
April 1994
2.6
2.0
2.6
April 1995
2.8
2.0
2.8
April 1996
2.6
2.0
2.6
January 1997
2.9
2.0
2.9
January 1998
2.1
2.0
2.1
January 1999
1.3
1.3
1.3
January 2000
2.4
2.0
2.4
January 2001
3.5
2.5
3.5
January 2002
2.6
2.0
2.6
January 2003
1.4
1.4
1.4
January 2004
2.1
2.0
2.1
January 2005
2.7
2.0
2.7
January 2006
4.1
3.1
4.1
January 2007
3.3
2.3
3.3
January 2008
2.3
2.0
2.3
January 2009
5.8
4.8
5.8
January 2010
0.0
0.0
-2.1
January 2011
0.0
0.0
-0.6
January 2012
3.6
2.6
3.6
January 2013
1.7
1.7
1.7
January 2014
1.5
1.5
1.5
January 2015
1.7
1.7
1.7
Source: Office of Personnel Management.
Income and Expenditures of the Civil Service Retirement and Disability Fund
The CSRDF began FY2013 with a balance of $819.8 billion. By law, these assets are invested in special-issue U.S. Treasury bonds. The balance of the trust fund represents budget authority available to pay benefits under both CSRS and FERS. The fund's end-of-FY2013 balance of $835.7 billion was more than 11 times the value of the CSRS and FERS annuities paid from the fund that year. (See Table 8.)
The CSRDF receives income from several sources. Some of the fund's income results from cash transactions. Other income comes from intra-governmental transfers. The largest cash transaction ($2.8 billion in FY2013) consists of employee contributions to CSRS and FERS. These contributions are equal to 7.0% of base pay under CSRS; 0.8% of base pay under FERS for employees first hired before 2013; 3.1% of pay under FERS for employees first hired in 2013; and 4.4% of pay under FERS for employees first hired after 2013.10 Smaller cash payments are received from the District of Columbia to finance retirement benefits for its employees and from additional cash contributions made by federal workers. These usually are former federal employees who are returning to government service and who had previously withdrawn their retirement contributions under CSRS.
The civil service retirement trust fund's largest sources of income are (1) interest payments on the U.S. Treasury bonds it holds, (2) annual payments from the general fund of the Treasury to make up for the insufficient funding of benefits accrued under CSRS, and (3) payments from federal agencies and the Postal Service on behalf of their employees. Agency contributions under CSRS are equal to 7.0% of payroll, and are supplemented by transfers from the general fund of the Treasury equal to approximately 12% of payroll. Agency contributions to FERS are required by law to be equal to the full actuarial cost of the program minus employee contributions. Agency contributions to FERS are equal to 13.2% of pay in FY2015 for employees first hired before 2013 and 11.1% of pay in FY2015 for employees first hired after 2012.11 These three sources of income are intra-governmental transfers that increase the fund's budget authority, as recorded in the accounts of the U.S. Treasury. The fund receives Treasury bonds as a record of this budget authority, which it redeems periodically as annuity payments come due.12
Expenditures from the CSRDF consist mainly of payments to retired federal employees and their surviving dependents. Annuity payments totaled $76.9 billion in FY2013. Payments to the estates of decedents and payments to separating employees accounted for another $445 million. The administrative expenses of the fund were $128 million, or 0.2% of obligations.
Table 8. Receipts and Obligations of the Civil Service Retirement and Disability Fund, FY2013-FY2015
(in millions of dollars)
FY2013
FY2014 (est.)
FY2015 (est.)
Beginning balance
Receipts to the fund
Cash receipts:
—Employee contributions
—District of Columbia
—Other employee deposits
Intragovernmental transfers:
—Agency contributions
—Postal Service contributions
—Interest on securities
—General fund receipts
—Re-employment offset
Total receipts to the fund
Obligations from the fund
—Employee and survivor annuities
—Refunds and payments to estates
—Administration
Transfer to Merit Systems Protection Board
Total obligations from the fund
Proposal: Refund USPS FERS
Ending balance
$835,685a
Source: U.S. Office of Management and Budget, Budget of the United States Government, FY2015.
a. Includes rounding adjustment of -$4 million.
Recent Trends in the Balance of the Civil Service Retirement and Disability Fund
Between FY1990 and FY2015 (estimated), the balance of the CSRDF rose from $238 billion to $923 billion, an increase of 288%. (See Table 9.) The balance of the fund has been rising partly because the civil service retirement programs are in a long-term transition from pay-as-you-go financing under CSRS to advance-funding under FERS.
Until 1969, CSRS benefits were funded on a pay-as-you-go basis with a small reserve equal to about one year of benefit payments to meet unexpected contingencies. Employee contributions and agency contributions were less than the actuarial value of the benefits that were accrued each year by federal employees. In 1969, P.L. 91-93 mandated annual payments to the fund from the general revenues of the U.S. Treasury to make up most of this shortfall.13 When Congress passed the legislation that created FERS in 1986, the law required that the full actuarial value of benefits accrued each year by federal employees under FERS (including the value of future COLAs) must be funded by the sum of employee and agency contributions. The Office of Personnel Management estimates that at some time in the 21st century, the trust fund will reach a steady state in which it holds sufficient budget authority to finance about 18 to 20 years of retirement and disability benefits.
Table 9. Income and Expenses of the Civil Service Retirement and Disability Fund, FY1990-FY2015
(in billions of dollars)
Fiscal Year
CSRDF Income
CSRDF Expenditures
Net Assets at End of Year
1990
$52.7
-$31.4
$238.0
1995
66.1
-38.6
371.3
1996
67.7
-39.9
398.9
1997
70.4
-41.8
427.5
1998
72.8
-43.2
457.1
1999
73.7
-44.0
486.8
2000
76.0
-45.2
521.5
2001
77.9
-47.1
548.2
2002
80.1
-48.7
579.5
2003
77.8
-50.0
607.1
2004
82.1
-52.0
637.1
2005
83.5
-55.4
665.9
2006
87.0
-57.6
695.0
2007a
89.5
-78.1
706.4
2008
90.8
-63.5
733.7
2009
92.7
-67.6
758.7
2010
95.2
-69.3
784.6
2011
94.1
-70.3
808.4
2012
94.8
-73.9
829.1
2013b
106.4
-76.6
859.0
2014b
111.5
-79.6
890.9
2015b
115.2
-82.7
923.4
Source: Office of Personnel Management, Annual Report of the Board of Actuaries of the Civil Service Retirement and Disability Fund (various years)
a. Expenditures for 2007 include a $17.1 billion payment to the Postal Service Retiree Health Fund.
b. Data for FY2013-FY2015 are estimated.
Number of Civil Service Annuitants and Total Annuity Payments
The number of people receiving civil service annuity payments has risen more than 170% since 1970, but the rate of increase has slowed since 1985. (See Table 10.)The rapid rise in the number of civil service annuitants from less than 1 million in 1970 to approximately 2 million in 1985 resulted from the increase in federal employment that occurred between 1940 and 1955. Throughout the 1930s, civilian federal employment (including postal employees) was less than 1 million. The first year in which there were more than 1 million people in the federal workforce was 1940. By 1955, civilian federal employment had reached 2.4 million. After 1955, civilian federal employment increased much more slowly. It reached nearly 3 million in 1970, due in part to the war in Vietnam and the creation of such large-scale social programs as Medicare and Medicaid in the 1960s. The slower but still steady increase in the number of federal employees in the years between 1955 and 1970 had as one of its consequences the steady increase in the number of civil service annuitants in the years since 1985. Between 1985 and 2013, the number of civil service annuitants rose from just under 2 million to just under 2.6 million.
Expenditures for civil service annuities have grown by a greater percentage than the number of annuitants because they are affected not only by the number of people employed by the federal government, but also by increases in average life-span, growth in real wages, and inflation. Cost-of-living adjustments—which have been applied to civil service annuities since 1962—increase the nominal value of civil service annuities, but do not increase the real value of these annuities. COLAs are intended to keep purchasing power from eroding due to the effects of inflation.14
Under current law, the real value of a civil service annuity either remains constant (CSRS) or declines (FERS) during retirement.15 Rates of increase in the "high-three" average pay of retiring federal employees (on which these annuities are based) are in turn affected by (1) adjustments to pay for each grade-and-step level, (2) special pay increases such as locality pay adjustments, (3) the distribution of federal employees among various grade-and-step levels over time, and (4) average length of service (because each additional year of service tends to increase the high-three average pay). The average real value of civil service annuities per annuitant can be expected to decline in the future as a growing number of new retirees will be workers who were enrolled in FERS rather than CSRS. FERS annuities are smaller than CSRS annuities, but they are supplemented by Social Security benefits and the TSP.
Table 10. Annuitants and Annuity Payments, by Fiscal Year
Fiscal Year
Total Annuitants (thousands)
Payments in Nominal Dollars (millions)
Payments in Constant 2013 Dollars (millions)
1970
962
$2,746
16,487
1975
1,391
7,048
30,518
1980
1,675
14,662
41,452
1985
1,971
23,012
49,822
1990
2,143
31,036
55,318
1995
2,311
38,319
58,574
2000
2,372
45,072
60,975
2001
2,380
47,244
62,145
2002
2,383
48,838
63,242
2003
2,290
50,248
63,618
2004
2,404
52,048
64,187
2005
2,423
54,593
65,119
2006
2,449
57,809
66,801
2007
2,463
60,860
68,379
2008
2,471
63,432
68,633
2009
2,510
67,618
73,424
2010
2,522
69,261
73,994
2011
2,530
70,209
72,712
2012
2,544
74,342
75,431
2013
2,563
77,513
77,513
2014a
2,604
79,989
78,722
2015a
2,617
82,704
79,837
Sources: Office of Personnel Management, FY2013 Statistical Abstract of Federal Employee Benefits Program; and Office of Management and Budget, Budget of the United States Government, FY2015.
Note: Does not include retirees in interim pay status. Depending on the day that the fiscal year begins, a year can have 11, 12, or 13 payments.
a. Estimated number of annuitants and nominal outlays from Office of Management and Budget, Budget of the United States Government, FY2015.
Total Civilian Federal Employment
Between FY1994 and FY2012, the number of civilian federal employees (including the U.S. Postal Service, which participates in both CSRS and FERS) fell from 2,972,000 to 2,761,000. (See Table 11.) Civilian federal employment outside the Postal Service fell from 2,149,000 in FY1994 to 1,943,000 in FY2006, a decline of 9.6%. From FY2006 to FY2012, total federal employment rose from 2,700,000 to 2,761,000, an increase of 2.3%. Non-postal employment rose from 1,943,000 to 2,168,000, an increase of 11.6%. Much of the FY2006 to FY2012 increase in federal employment was driven by growth in the executive branch, which is the largest branch of government in terms of federal employees. The executive branch experienced an increase in employees over this period of 2.3% (2,637,000 employees in FY2006; 2,697,000 employees in FY2012). Employment in the judicial branch (34,000) exceeded employment in the legislative branch (30,000) in FY2012. From FY1994 to FY2012, employment in the legislative branch declined from 35,000 employees to 30,000 employees. Over the same period, employment in the judicial branch rose from 28,000 to 34,000 employees.
Table 11. Civilian Federal Employment, by Fiscal Year
(total employment, in thousands, as of September 30 each year)
Year
Legislative Branch
Judicial Branch
Executive Branch
Total, Excluding Postal Service
Postal Service
1994
35
28
2,908
2,972
823
1996
32
30
2,786
2,847
852
1998
31
32
2,727
2,790
872
2000
31
32
2,645
2,708
861
2002
31
35
2,650
2,716
812
2004
30
34
2,649
2,713
768
2006
29
34
2,637
2,700
757
2008
30
34
2,694
2,758
728
2010
31
34
2,777
2,841
643
2011
30
34
2,756
2,820
610
2012
30
34
2,697
2,761
593
Source: Office of Personnel Management. The Fact Book: 2005 Edition (p. 7) and 2007 Edition (p. 8), and Employment and Trends, various years (Table 2).
Note: Due to rounding the rows may not sum exactly to the "Total, Excluding Postal Service" column. Data in this table may not match the data found in Table 12 as not all civilian federal employees are covered by CSRS or FERS.
Age Distribution of CSRS and FERS Employees
Under CSRS, an employee with 30 or more years of service can retire with an immediate, unreduced annuity at the age of 55. The minimum retirement age under FERS is 56. In both CSRS and FERS, an employee with 20 or more years of service can retire at the age of 60. About one in three federal employees will reach age 55 within 10 years, but not all of them will have 30 years of service at that age. Of those who have 30 or more years of service, not all will retire as soon as they are eligible. The average age among all federal employees who retired in FY2011 was 60.5. The average age among individuals who took normal retirement—as opposed to early retirement or disability retirement—was 61.8.16
Because CSRS has been closed to new entrants since 1984, the distribution of current CSRS employees is older than FERS. Very few CSRS employees (less than one-hundredth of a percent) were under the age of 45 in September 2012. Forty percent of FERS employees, however, were under the age of 45 during this same period. Approximately 2% of CSRS employees and 17% of FERS employees were between the ages of 45 and 54. Although most CSRS employees (77%) were aged 55 or older, only 25% of FERS employees were aged 55 or older. (See Table 12.)
Table 12. Age Distribution of CSRS and FERS Employees, FY2012
(number as of September 30, 2012)
|
Age
|
Under 45
|
45 -49
|
50 -54
|
55 -59
|
60 -64
|
65 or Older
|
Total
|
|
Number of CSRS employees
|
0
|
4,450
|
58,648
|
103,127
|
71,419
|
26,600
|
274,000
|
|
Percentage
|
0.0
|
1.6
|
21.4
|
37.6
|
26.1
|
13.3
|
100%
|
|
Number of FERS employees
|
997,850
|
416,396
|
447,220
|
342,504
|
194,011
|
79,019
|
2,477,000
|
|
Percentage
|
40.3
|
16.8
|
18.1
|
13.8
|
7.8
|
3.2
|
100%
|
Source: Office of Personnel Management, FY2013 Annual Report of the Board of Actuaries of the Civil Service Retirement and Disability Fund.
Notes: Due to rounding columns may not sum exactly to totals.
Acknowledgments
Adam Salazar, research assistant at CRS, contributed to the updating of this report.
Footnotes
| 1.
|
P.L. 105-61 (October 10, 1997) authorized an open season to be held from July through December 1998.
|
| 2.
|
High-three average pay is based on nominal (current) dollars rather than indexed (constant) dollars.
|
| 3.
|
Employee contributions to the TSP are subject to the annual limit on salary deferrals established under Internal Revenue Code § 402(g).
|
| 4.
|
All employees covered by FERS receive "agency automatic contributions" of 1% of pay. Employee contributions are matched dollar-for-dollar on the first 3% of pay contributed and at $.50 on the dollar on the next 2% of pay contributed. Thus, the maximum agency contribution to the TSP is 5% of employee pay.
|
| 5.
|
Normal retirements include all retirements except disability retirements, voluntary early retirements, involuntary retirements, and special provision retirements.
|
| 6.
|
To qualify for voluntary early retirement, individuals must have at least 25 years of service or be at least age 50 with at least 20 years of service. This requirement may be responsible for the greater years of service for individuals who take FERS voluntary early retirement compared with FERS normal retirement. For more details on the Voluntary Early Retirement Authority (VERA) that may grant eligibility for voluntary early retirement, see http://www.opm.gov/policy-data-oversight/workforce-restructuring/voluntary-early-retirement-authority/.
|
| 7.
|
In 2015, federal employees can contribute up to $18,000 of pay to the TSP. Employees enrolled in FERS receive matching contributions up to a maximum of 5% of pay. Employees enrolled in CSRS do not receive matching contributions. For more information on the TSP, see CRS Report RL30387, Federal Employees' Retirement System: The Role of the Thrift Savings Plan, by [author name scrubbed].
|
| 8.
|
In November 2014, the average monthly Social Security benefit among all retired workers was $1,305. The average monthly benefit for a nondisabled surviving spouse was $1,253.
|
| 9.
|
Workers who switched from CSRS to FERS receive a COLA that is weighted by the proportion of their federal service that was spent under each retirement system.
|
| 10.
|
Under the Balanced Budget Act of 1997 (P.L. 105-33), employee contribution rates under CSRS and FERS rose by 0.25% in January 1999 and by a further 0.15% in January 2000. They were scheduled to increase by another 0.1% in January 2001 before reverting to their previous levels—7.0% under CSRS and 0.8% under FERS—after December 31, 2002, but the increased contributions were repealed by P.L. 106-346. The Middle Class Tax Relief and Job Creation Act of 2012 (P.L. 112-96) increased the FERS employee contributions by 2.3 percentage points for FERS employees hired (or rehired with less than five years of FERS service) after December 31, 2012. Individuals subject to the increased employee contributions under P.L. 112-96 are referred to as "FERS-Revised Annuity Employees" (FERS-RAE). The Bipartisan Budget Act of 2013 (P.L. 113-67) further increased the FERS employee contribution by an additional 1.3 percentage points for FERS employees hire (or rehired with less than five years of FERS service) after December 31, 2013. Individuals subject to the increased employee contributions under P.L. 113-67 are referred to as "FERS-Further Revised Annuity Employees" (FERS-FRAE).Therefore, the FERS employee contribution rate is 3.1% of pay for FERS-RAE (i.e., employees first hired in 2013) and 4.4% of pay for FERS-FRAE (i.e., employees first hired after 2013).
|
| 11.
|
See Attachment 2 in Office of Personnel Management, Benefits Administration Letter Number 13-107, "Federal Employees Retirement System-Further Revised Annuity Employees (FRAE) Coverage Determination Guidance," August 13, 2014, http://www.opm.gov/retirement-services/publications-forms/benefits-administration-letters/2014/14-107.pdf.
|
| 12.
|
See CRS Report RL30023, Federal Employees' Retirement System: Budget and Trust Fund Issues, by [author name scrubbed].
|
| 13.
|
The Office of Management and Budget has estimated that employee and agency contributions and the transfers from the general fund are sufficient to meet all of the actuarial costs of CSRS except for the increase in benefits represented by COLAs.
|
| 14.
|
Federal tax revenues increase each year partly as a result of inflation. Income tax brackets are indexed in recognition of increases in personal income that result solely from inflation.
|
| 15.
|
Some CSRS COLAs in the 1970s exceeded the rate of inflation because P.L. 91-93, enacted in 1969, called for COLAs of "CPI plus one percentage point." The additional one percentage point was repealed by P.L. 94-440, enacted in 1976.
|
| 16.
|
Retirements other than normal retirements include disability retirements, voluntary early retirements, involuntary retirements, special retirements for law enforcement officers and firefighters, and other unclassified retirements.
|