Civil Service Retirement System - CSRS

DEFINITION of 'Civil Service Retirement System - CSRS'

A system that provided the retirement, disability and survivor benefits for most U.S. civilian service employees working for the federal government. It was replaced in 1987 by the Federal Employees Retirement System (FERS), but employees who were originally set up through the CSRS still receive their benefits through that program, unless they were hired after 1983.

BREAKING DOWN 'Civil Service Retirement System - CSRS'

CSRS was created in 1920, and at that time possessed most of the features of traditional pension plans. Today, FERS also incorporates social security benefits, government contributions and employee contributions.

RELATED TERMS
  1. IRS Publication 721: Tax Guide ...

    A document published by the Internal Revenue Service (IRS) that ...
  2. Corporate Pension Plan

    A formal arrangement between a company and its employees - or ...
  3. Unit Benefit Plan

    An employer-sponsored pension plan that provides retirement benefits ...
  4. Thrift Savings Plan - TSP

    A retirement savings plan created by the Federal Employee's Retirement ...
  5. Other Post-Retirement Benefits

    Benefits, other than pension distributions, paid to employees ...
  6. Benefit Allowance

    Money that a company or government agency provides to an employee ...
Related Articles
  1. Retirement

    Thrift Savings Plan Helps Federal Workers Retire

    The TSP is key component of retirement savings for U.S. government workers and members of uniformed services.
  2. Retirement

    When Do I Stop Paying Social Security Tax?

    Almost never, unless you belong to one of these special groups.
  3. Retirement

    How Pensions, Social Security Differ

    Both pensions and Social Security provide an income stream to retirees, but they differ widely on how they're structured and funded. Here's the lowdown.
  4. Retirement

    Retire? Me? Smart Strategies For Business Owners

    Retiring successfully if you're a small business owner requires both an exit strategy and a good retirement plan. Here's how to get started.
  5. Retirement

    Overhaul Social Security to Fix Retirement Shortfall

    There are several theories and ideas about how we can make up for the $6.6 trillion retirement savings shortfall in America. Adjustments to Social Security and our retirement savings plans are ...
  6. Retirement

    This Is Why Your Employer Should Offer a 401(k)

    Understand the unique benefits that come with a small business offering a retirement savings plan such as a 401(k) to current and future employees.
  7. Retirement

    What Is a Phased Retirement and How Do I Get One?

    Workers around the country are redefining what retirement looks like. One way is a phased retirement, in which you gradually exit the workforce.
  8. Home & Auto

    Selecting The Right Mix Of Insurance Benefits

    Choosing employee benefits involves weighing the probability you will need them against taxes and cost.
  9. Options & Futures

    401(k): An Accidental Solution To The Retirement Problem

    The 401(k) is often a poor substitute for the defined-benefit plans it replaced, but there are steps you can take to make yours better.
  10. Retirement

    3 Ways to Get Social Security Benefits

    Social Security isn't just for retirement. Learn about all three benefits provided by the Social Security Administration: retirement, survivor and disability.
RELATED FAQS
  1. What are some examples of common fringe benefits?

    Learn how offering fringe benefits can be a strategic recruitment and retention tool for employers and drastically increase ... Read Answer >>
  2. How does an employer benefit from a 401(k) matching plan?

    A 401(k) is a type of qualified retirement plan created by employers, where an employee deposits money into a retirement ... Read Answer >>
  3. Who is eligible for a Teacher Retirement?

    Learn about the retirement option, the Teacher Retirement System, offered to teachers and other public school employees, ... Read Answer >>
  4. What are the benefits and advantages of the Teacher Retirement System?

    Learn about some of the primary benefits of a teacher retirement system and what similarities it has with other types of ... Read Answer >>
  5. How do I know what Social Security benefits I am eligible for?

    Learn what tools to use to find out which Social Security benefit programs you are eligible for and the basic requirements ... Read Answer >>
  6. How does a defined benefit pension plan differ from a defined contribution plan?

    Learn the differences between defined benefit plans and defined contribution plans when reviewing employer-sponsored qualified ... Read Answer >>
Hot Definitions
  1. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  2. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  3. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
  4. Weighted Average Cost Of Capital - WACC

    Weighted average cost of capital (WACC) is a calculation of a firm's cost of capital in which each category of capital is ...
  5. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  6. Sharing Economy

    An economic model in which individuals are able to borrow or rent assets owned by someone else.
Trading Center