To earn the prestige associated with the CPA license, you are required to demonstrate knowledge and competence by meeting high educational standards, passing the CPA exam and completing a specific amount of general accounting experience.
Federal Employees Retirement System (FERS) Program Description. Congress created the Federal Employees Retirement System (FERS) in 1986, and it became effective on January 1, 1987. Since that time, new Federal civilian employees who have retirement coverage are covered by FERS.
For the most part, benefits for Congress are similar to those of any federal employee, although there are differences. How their retirement plan works. Nearly all Congress members are covered by the Federal Employees Retirement System. The FERS retirement plan has three parts: 1  Social Security. 2  Members of Congress have Social Security taxes withheld from their pay like other workers, and are eligible for retirement benefits beginning at age 62.