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The article from the IRS website provides information on elective pay and transferability, which are options available to federal employees under the Federal Employees' Retirement System (FERS) and the Civil Service Retirement System (CSRS). Here is a concise summary of the key points:Elective Pay:* FERS employees can elect to receive an additional 1/60th of their salary each month in retirement, which can be paid out as a lump sum or an annuity.* CSRS employees are not eligible for elective pay.Transferability:* FERS employees can transfer unused sick leave to their spouse or same-sex domestic partner upon death or separation.* CSRS employees can transfer unused sick leave to their spouse, same-sex domestic partner, or child.It's important to note that these options have specific eligibility requirements and limitations, so it's best to consult the IRS website or consult with a retirement benefits expert for more detailed information.
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Retirement System
civil service
Federal Employees'
FERS employees
CSRS employees
IRS website
Employees' Retirement
Service Retirement
elective pay
system
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