Q. I am a former federal employee and would like to roll over my FERS contributions to my new employer-sponsored plan. The plan, however, requires advanced approval before the rollover can be accepted. To initiate the preapproval process, I must provide a letter from the custodian or a recent account statement that provides the member’s name, plan type, account number, balance and contact number and the fund custodian’s mailing address. Where can I get this letter or account statement? A. Most applicants just request a refund of their retirement contributions and have them sent to them. Then they give the…
Browsing: Retirement plan
Q: Can you tell me which retirement plan should I have been in? I was temporarily employed by the federal government in 1983 but became a permanent employee in 1984. Shouldn’t I be under the Civil Service Retirement System? And not the Federal Employees Retirement System? A: No, I can’t tell you. What I can tell you is this: If you had five years of creditable service under CSRS before Jan. 1, 1987, you would have been entitled to be covered by CSRS with the option of electing to be covered by FERS. Since the Office of Personnel Management has…