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FERS

Federal Employees Retirement System(An Overview of Your Benefits)Insurance ServicePersonnel Management fers RI 90-1 Revised April 1998 Retirement and United States Office of Previous edition is usable. Federal Employees Retirement System (An Overview of Your Benefits) This booklet contains highlights of the Federal Employees Retirement System ( fers ). It is not meant to provide a detailed explanation of all the plan provisions. The information is based on the law in effect at the time the booklet went to publication. Under the Balanced Budget Act of 1997, Public Law 105-33 for fiscal year 1998, employee retirement contributions will increase as follows. Deductions for the Civil Service Retirement System and the Federal Employees Retirement System would be increased by in January 1999, by an additional in January 2000, and by more in January 2001, for a total increase of These higher contribution rates would be in effect through 2002.

[Thrift Savings Plan You pay full Social Security taxes and a small contribution to the Basic Benefit Plan. In addition, your agency puts an amount equal to 1% of your basic pay each pay period into your Thrift Sav­ ings Plan (TSP) account. You are able to make tax-deferred contributions to the TSP and a portion is matched by the Government.

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