By The Associated Press | Updated Nov. 16, 2018 12:23 p.m.
EST The Federal Retirement System, which is run by the states, states and the federal government, is an insurance system for the states.
It’s funded primarily by taxes paid by the people who own the land and who are responsible for the upkeep of the land.
It has an annual revenue of about $1.6 trillion and a payroll of about 3 million.
The federal government provides about $200 billion annually in benefits.
Here are some things you didn’t know about the FERS: It’s managed by a private company that manages all of the benefits.