I have some family in the civil service, but they are under the old CSRS, so i was wondering what you could tell me about FERS. Is it crap like i hear, and also is it dependent upon the markets. Anything you could tell me would be helpful, thanks.
The FAA will actually match you dollar for dollar up to 4%...the federal government will match you dollar for dollar 1%...so total you get matched 5% total.
That is not what http://www.tsp.gov/features/chapter04.html says.
First, when you become eligible for agency contributions, your agency will automatically contribute to your TSP account an amount equal to 1 percent of your basic pay each pay period. These are your Agency Automatic (1%) Contributions. You will receive these contributions whether or not you contribute your own money to your TSP account.
Second, if you are contributing to your TSP account, your agency also makes Agency Matching Contributionsonce you are eligible for them. If you do not contribute your own money, you will not receive Agency Matching Contributions. Matching contributions apply to the first five percent of pay that you contribute each pay period. Your contributions are matched dollar-for-dollar on the first three percent of pay you contribute each pay period and 50 cents on the dollar for the next two percent of pay. Your agency will not match the contributions that you make above five percent of your pay. However, you will still benefit from before-tax savings and tax-deferred earnings on those contributions
The FAA will actually match you dollar for dollar up to 4%...the federal government will match you dollar for dollar 1%...so total you get matched 5% total.
When does the Gov't start contributing? I'm a student at the Academy and I contribute 5% to the TSP, and I don't see anything on the bottom of my LES under "Agency Contributions".Here is how it comes out on my LES,
Under deductions:
Thrift Savings Plan---------------$87.64 (This is 5% of my base that I contribute)
Under Benefits Paid By Gov't:
TSP Matching--------------------$70.11
TSP Basic------------------------$17.53
Does that help?
HD
When does the Gov't start contributing? I'm a student at the Academy and I contribute 5% to the TSP, and I don't see anything on the bottom of my LES under "Agency Contributions".
When does the Gov't start contributing? I'm a student at the Academy and I contribute 5% to the TSP, and I don't see anything on the bottom of my LES under "Agency Contributions".