Q. I left a Federal Reserve Bank for a position in the federal government. Public Law No: 106-168 permits former Federal Reserve Bank employees to receive credit in FERS if a former bank worker becomes a federal employee. Am I eligible to receive service credit for retirement in FERS for my years of service at a Federal Reserve Bank? Or, must my service have been with the Federal Reserve Board of Governors to qualify?
A. According to OPM, “Employees of the Board of Governors meet the 5 U.S.C. 2105 definition of employee. Employees of the Federal Reserve Banks do not so their service is not good under CSRS or FERS.”