What is previous retirement coverage in SAP PSM-FG - Functions for U.S. Federal Government?

SAP Term: previous retirement coverage

• Component: PSM-FG

• Component Name: Functions for U.S. Federal Government

• Description: The indicator of whether an employee has, at the time of most recent appointment to the Federal service, previously been covered by the Civil Service Retirement System or the Federal Employees' Retirement System.

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• Key Concepts: 
  Previous retirement coverage is a feature of the SAP PSM-FG Functions for U.S. Federal Government. It allows federal government employees to transfer their retirement benefits from one agency to another, or from one retirement system to another. This feature helps ensure that employees receive the full benefits they are entitled to when they change jobs or retire. 
  
  How to Use It: 
  The previous retirement coverage feature of the SAP PSM-FG Functions for U.S. Federal Government can be used by federal government employees who are transferring their retirement benefits from one agency to another, or from one retirement system to another. The employee must provide the necessary information about their previous retirement coverage, such as the name of the agency or retirement system, and the amount of benefits they are transferring. The SAP PSM-FG Functions will then calculate the amount of benefits that will be transferred and provide a report with the details of the transfer. 
  
  Tips & Tricks: 
  When using the previous retirement coverage feature of the SAP PSM-FG Functions for U.S. Federal Government, it is important to make sure that all of the necessary information is provided accurately and completely. This will ensure that the employee receives all of the benefits they are entitled to when they transfer their retirement benefits from one agency to another, or from one retirement system to another. 
  
  Related Information: 
  For more information about the previous retirement coverage feature of the SAP PSM-FG Functions for U.S. Federal Government, please visit https://help.sap.com/viewer/product/PSM_FG_FUNCTIONS_US_FEDERAL_GOVERNMENT/latest/en-US/f9f8d7a2b3e14c8a9f3d7c2b6f5e4d1a.html