From the sources I have, all of it applies. But, checking Wikipedia's entry on the subject, I can see where the confusion comes from.
It says that a 'full pension' is possible after 5 years (if the person is 62 or older, 20 years if they're 50+ and any age if they have 25+ years). This means they can get 5% of their salary - they're vested in the system and retire at 62 with 5 years. It's easy to see how someone can read "full pension" and think that they're getting their entire salary for the rest of their lives.
The switchover date from CERS to FERS was in 1987 (I thought it was 1984).
Now, as I understand it, they have a better health plan than I do - that would be one of the perks of being a legislooter over being a web programmer for the Air Force.
|