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.

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  1. When can catch-up contributions start?

    Most qualified retirement plans such as 401(k), 403(b) and SIMPLE 401(k) plans, as well as individual retirement accounts ... Read Full Answer >>
  2. Are 401(k) contributions tax deductible?

    All contributions to qualified retirement plans such as 401(k)s reduce taxable income, which lowers the total taxes owed. ... Read Full Answer >>
  3. Are 401(k) rollovers taxable?

    401(k) rollovers are generally not taxable as long as the money goes into another qualifying plan, an individual retirement ... Read Full Answer >>
  4. Are catch-up contributions included in the 415 limit?

    Unlike regular employee deferrals, catch-up contributions are not included in the 415 limit. While there is an annual limit ... Read Full Answer >>
  5. Can catch-up contributions be matched?

    Depending on the terms of your plan, catch-up contributions you make to 401(k)s or other qualified retirement savings plans ... Read Full Answer >>
  6. Are catch-up contributions included in actual deferral percentage (ADP) testing?

    Though the Internal Revenue Service (IRS) carefully scrutinizes the contributions of highly compensated employees (HCEs) ... Read Full Answer >>

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