Separation And Retirement Incentives In The Federal Civil Service
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Author | : Beth J. Asch |
Publisher | : RAND Corporation |
Total Pages | : 90 |
Release | : 1999 |
Genre | : Business & Economics |
ISBN | : |
Download Separation and Retirement Incentives in the Federal Civil Service Book in PDF, Epub and Kindle
In 1987 a new retirement system, called the Federal Employees Retirement System (FERS), was introduced for federal civil service personnel. Some observers have hypothesized that FERS would alter the retirement and separation outcomes produced by FERS' predecessor, the Civil Service Retirement System (CSRS). This report compares the retirement and separation incentives embedded in FERS versus those in CSRS to see whether the incentives embedded in FERS are consistent with these hypotheses. It also examines which system is more generous in terms of providing greater expected net lifetime earnings and retirement wealth. To compare the systems, the authors compute expected net wealth associated with different separation and retirement ages for a representative individual. The authors also conduct sensitivity analyses to see how their comparisons differ under alternative assumptions. Finally, the authors use data on Department of Defense civil service personnel from fiscal year 1983 through fiscal year 1996 to examine empirically how separation rates differ for early and mid-career personnel under FERS and under CSRS.
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Publisher | : |
Total Pages | : 74 |
Release | : 1998 |
Genre | : |
ISBN | : |
Download Separation and Retirement Incentives in the Federal Civil Service Book in PDF, Epub and Kindle
Responding to policy analysis needs of the Deputy Assistant Secretary of Defense for Civilian Personnel Policy (DASD(CPP)), RAND is currently conducting a series of studies on civilian personnel management issues. This study, which is part of that larger RAND effort, examines the Federal Employees Retirement System (FERS) and the Civil Service Retirement System (CSRS) to determine what incentives each includes for turnover and retirement. In addition, it compares actual separation out comes under FERS with those under CSRS for early and mid-career DoD civil service personnel. The study should be of interest to policymakers and researchers concerned with the personnel outcomes produced by these two large federal compensation systems.
Author | : |
Publisher | : |
Total Pages | : 132 |
Release | : 1998 |
Genre | : Civil service |
ISBN | : |
Download CSRS and FERS Handbook for Personnel and Payroll Offices Book in PDF, Epub and Kindle
Author | : Beth J. Asch |
Publisher | : RAND Corporation |
Total Pages | : 40 |
Release | : 2003 |
Genre | : Business & Economics |
ISBN | : |
Download The Effects of Workforce-shaping Incentives on Civil Service Retirements Book in PDF, Epub and Kindle
Estimates the effects of three worksforce-shaping policies among DoD workers covered by the Civil Service Retirement System.
Author | : |
Publisher | : |
Total Pages | : 20 |
Release | : 2008 |
Genre | : Divorced people |
ISBN | : |
Download Court-ordered Benefits for Former Spouses Book in PDF, Epub and Kindle
"This pamphlet is for Federal employees or their spouses who want general information about how their retirement and insurance can be affected by a court order related to a divorce or separation"--introd.
Author | : |
Publisher | : |
Total Pages | : 2 |
Release | : 1999 |
Genre | : |
ISBN | : |
Download RAND Research Brief: Modifying Federal Civil Service Retirement Incentives Book in PDF, Epub and Kindle
In recent decades, concerns have been expressed about two related labor force problems in the federal civil service: (1) insufficient turnover among mid- and late-career personnel and (2) the loss of key senior personnel to retirement as soon as they become eligible (generally, age 55). Lack of turnover can clog the promotion pipeline, preventing the hiring or advancement of better-trained or more-skilled individuals. The premature loss of senior personnel can impose significant direct and indirect costs: it is often difficult and time-consuming to find qualified replacements. Some observers have attributed these problems in large part to the Civil Service Retirement System (CSRS), which was thought to create "golden handcuffs" by significantly reducing the value of retirement benefits of those leaving prior to their first age of eligibility. These observers hypothesized that the new, redesigned system called the Federal Employees Retirement System (FERS), introduced in 1987, would correct these problematic separation and retirement patterns.
Author | : United States. Congress. House. Committee on Post Office and Civil Service. Subcommittee on Retirement and Employee Benefits |
Publisher | : |
Total Pages | : 16 |
Release | : 1975 |
Genre | : Civil service |
ISBN | : |
Download Mandatory Retirement at Age 70 with 5 Years of Service Book in PDF, Epub and Kindle
Author | : United States Civil Service Commission |
Publisher | : |
Total Pages | : 22 |
Release | : 1956 |
Genre | : Civil service |
ISBN | : |
Download Improvements in Federal Civil Service Retirement Benefits Contained in Public Law 854 (H. R. 7619), Eighty-fourth Congress, Second Session Book in PDF, Epub and Kindle
Author | : United States. Congress. House. Committee on Post Office and Civil Service. Subcommittee on Compensation and Employee Benefits |
Publisher | : |
Total Pages | : 142 |
Release | : 1985 |
Genre | : Civil service |
ISBN | : |
Download Civil Service Retirement System Amendments Book in PDF, Epub and Kindle
Author | : David Anthony Coggin (Jr.) |
Publisher | : |
Total Pages | : 176 |
Release | : 2013 |
Genre | : Early retirement incentives |
ISBN | : |
Download Flimsy Tools Book in PDF, Epub and Kindle
"In the Department of Defense (DoD), civilian force reductions and shaping are accomplished through a limited number of means. The regulations controlling those means have evolved gradually from the inception of the first federal employee retention rights in 1876. As force shaping regulations have developed since World War II, it has taken longer to reduce the civilian force with each successive major force drawdown.The principal method for force shaping is reduction-in-force (RIF), which is also the main method civilian manpower is shaped across the federal government. Though RIF is the common method, it is generally not the preferred method due to the ripple effects it causes throughout the DoD employee hierarchy, and because of its financial cost. Voluntary separation and retirement incentives also exist, including Voluntary Early Retirement Authority (VERA) and Voluntary Separation Incentive Pay (VSIP). These authorities are typically used to help defray the negative effects caused during RIF actions as they are less destructive to the force, both in terms of structure and morale.Despite being the preferred method, VERA and VSIP are currently too restrained and inflexible to offer much more than token force-shaping assistance. Now, with the federal budget sequestration looming, DoD finds itself without a quality, speedy method of reducing its civilian force. In order for DoD to be able to more effectively and rapidly respond to the ever-changing fiscal environment, both now and in the future, VERA and VSIP authorities must be expanded to allow for broader and more flexible civilian force-shaping"--Leaf iv.