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.
The Federal Employees Retirement System (FERS) is a fully-funded defined benefit plan. When FERS replaced the Civil Service Retirement System (CSRS), it was designed so there would be no unfunded pension liability for the plan.