Commentary

February 28, 2014

Dollars and Sense

If you are a federal employee covered by the Federal Employees’ Retirement System or the Civil Service Retirement System, you may make regular or catch-up thrift savings plan contributions immediately upon employment. If you are covered by FERS, you may also receive matching agency contributions. All eligible employees are automatically enrolled in TSP at a 3-percent contribution rate.

Defense Department employees may use the DOD’s Employee Benefit Information System (www.ebis.satx.disa.mil/) to stop or change TSP contribution amounts. You may start, change or stop your contributions any time after your first full pay period in pay status. Your leave and earning statement should reflect your TSP deductions within two pay periods.

Visit TSP online (www.tsp.gov) for complete eligibility details and contribution limits. For more information on civilian pay issues, contact the 56th Comptrollers Squadron Customer Service or the civilian personnel office.

Coyote quote: Retirement can be a great joy if you can figure out how to spend time without spending money.




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