Fers pension expert says the FERS pension calculator can’t help you understand how the government is spending your money
FERS (NYSE: FERS) has a new calculator that gives you a chance to make sense of the federal government’s massive pension liability.
The calculator, which has been in the works since November and was revealed to investors today, is designed to help retirees understand how much they owe on their pensions, how much the government will contribute to them, and what that might mean in retirement.
“We are very pleased to announce that we have now added an expanded version of the Fers Pension Calculator to FERS.
In the expanded version, you can understand how you and your retirement savings are being spent,” the company said in a statement.
The new Fers Calculator, which will be available for download in the coming weeks, is the product of a partnership between the company and The Pension Institute.
Its goal is to provide “a comprehensive and user-friendly tool to help FERS customers understand their pensions and the potential for future benefits,” the FER said in the statement.
The company said that with the expanded calculator, the company “will be able to provide a comprehensive and timely explanation of the underlying benefits that are being offered to Fers retirees.”
“While Fers has a long history of providing useful tools, this new version will be a more accurate, up-to-date tool that will enable Fers to provide an even more accurate picture of how Fers’ investments are being used in retirement,” the statement said.
“Fers will be able better communicate with its members about the cost of the program, the benefits of investing in Fers, and how their investments will affect their retirement savings in the future.”
The FERS calculator was first unveiled last month, and the company has been working on it since January.
It was not immediately clear whether it would be available at a discounted price to retirees.