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Introduction and History To the Federal Retirement System Quiz

By admin / December 2, 2024

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Question 1 of 10

1. Question

FERS integrates Social Security, a defined benefit pension, and the Thrift Savings Plan (TSP).

True
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False
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Question 2 of 10

2. Question

What was the primary reason for replacing CSRS with FERS?

Employees no longer wanted pensions.
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To integrate Social Security and reduce long-term government costs.
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To offer better healthcare benefits.
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To eliminate retirement benefits for federal employees.
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Question 3 of 10

3. Question

Employees under CSRS are not eligible for Social Security benefits.

True
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False
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Question 4 of 10

4. Question

Which of the following is not a component of FERS?

Defined benefit pension
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Social Security
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Thrift Savings Plan
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Private investment accounts
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Question 5 of 10

5. Question

In what year did FERS become mandatory for new federal employees?

1984
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1986
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1987
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1990
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Question 6 of 10

6. Question

Match the following:

Sort elements

Employees hired after 1983
Employees hired before 1984

FERS	Correct Incorrect Correct answer

CSRS	Correct Incorrect Correct answer

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Question 7 of 10

7. Question

FEGLI provides retirement income to federal employees.

True
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False
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Question 8 of 10

8. Question

What is the main purpose of the Thrift Savings Plan (TSP)?

To provide health insurance to retirees.
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To serve as a retirement savings and investment plan.
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To replace the pension in FERS.
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To act as a supplemental income program.
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Question 9 of 10

9. Question

Federal employees hired before 1984 automatically contribute to Social Security.

True
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False
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Question 10 of 10

10. Question

What legislation led to the creation of FERS?

Civil Service Retirement Act
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Federal Employees Retirement Act of 1986
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Social Security Amendments of 1983
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Employee Retirement Income Security Act (ERISA)
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FederalPensionTraining.com courses are designed to equip professionals with the expertise to navigate the complexities of federal employee retirement systems and benefit programs. These courses provide the tools and strategies needed to run successful consultations and federal employee appointments, enabling professionals to better serve their clients. By learning these intricacies, professionals can empower federal employees to make well-informed decisions for their retirement planning.

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