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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: techtrader73 who wrote (320709)	2/12/2025 12:31:56 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 363046

Cuz of some technicality, I started out under SS; don't remember why. I think it was supposed to change after a year, but I wanted an IRA, which those getting federal retirement couldn't do, so I didn't say anything. I think I was only under the federal plan for 3 years, so I wasn't vested. Here's what they have now: FERS Information (opm.gov) FERS is a retirement plan that provides benefits from three different sources: aBasic Benefit Plan, Social Security and the Thrift Savings Plan (TSP). Two of the three parts of FERS (Social Security and the TSP) can go with you to your next job if you leave the Federal Government before retirement. The Basic Benefit and Social Security parts of FERS require you to pay your share each pay period. Your agency withholds the cost of the Basic Benefit and Social Security from your pay as payroll deductions. Your agency pays its part too. Then, after you retire, you receive annuity payments each month for the rest of your life. The TSP part of FERS is an account that your agency automatically sets up for you. Each pay period your agency deposits into your account amount equal to 1% of the basic pay you earn for the pay period. You can also make your own contributions to your TSP account and your agency will also make a matching contribution. These contributions are tax-deferred. The Thrift Savings Plan is administered by the Federal Retirement Thrift Investment Board.