Q. I am rather new to civil service and am not well-versed at finding information on my FERS retirement account. I see deductions from my check on my leave and earnings statement and the current balance. However, I also see contributions made by the government on my behalf are going into my account.
The balance for my contributions is clearly found; the balance on the account to include the contributions made by the government on my behalf is not. Combined contribution amounts should make the overall amount in my account considerably more than what it shows on my LES. Please tell me how I can find out the total amount of my FERS retirement account.
A. While the government does make contributions to employee retirement accounts, the amount is never included in their pay statements because it’s irrelevant. If you were to leave government and ask for a refund, all you’d receive is your own contributions, not the government’s. And if you retired, you’d receive an annuity based on your highest three years of average salary, not what you contributed to the retirement fund. Finally, federal taxes on that annuity would be actuarially based on the amount of your contributions alone.