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Dg52 Form: What You Should Know
Save 19.95 by using our new Instant Save Feature and no need to re-enter your credit card information. No registration required. No email address required. You can share our site with anyone you trust. Save 10% off. Email address required. The EOF Master Forms list makes it easy for you to access and use your EOF Master Forms List. You don't need to hunt down each individual form listed in the database. Just print or email the free online printable list from our site. What is a Federal Employee Retirement System (FEES)? Employees at the Federal Government who have not accepted the Government's retirement, deferred compensation or annuity plans, and who are eligible to receive an immediate annuity, may elect to retire based on the retirement system created by the Social Security Act and the Federal Employees Retirement System (FEES). Employees who do not elect a retirement based on these systems generally will retire a “FEES” retiree, or “Federal Employees” in some locations. The FEES system works a lot like Social Security's: there is no employer-employee match and no cost-of-living adjustment. But unlike Social Security, the Federal Government does not establish an employee match for FEES and does not provide an automatic cost-of-living adjustment to retirees. The FEES system provides employees with a “retirement income” based primarily on the pay of the highest-paid Federal Employee, which can be as high as 95 percent of an individual's base salary. These benefits are based on a portion of the FEES retirement benefit formula that has remained unchanged for more than 50 years. What is the FEES retirement benefit formula? FEES retirees receive a number of benefits based on their average monthly salary. The maximum retiree benefit is 70 percent of the Federal Employee's gross annual salary. The benefit is determined in one of two ways. The first method is to multiply the Federal Employee's gross base salary by two (2.0), and divide by two (2.0) to get the monthly average monthly benefit amount. A FEES retiree's monthly benefit amount will also be determined as the amount of Social Security monthly benefit the retiree has earned as a result of the number of years of service provided by the retiree. The cost-of-living adjustment percentage that the FEES will apply to the monthly benefit is equal to 6.4 percent of the total average monthly pay.
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