The Federal Employees Retirement System (FERS) is a three-tiered retirement plan and covers most federal employees hired after 1984. The three components are Social Security, the Basic Benefit Plan and the Thrift Savings Plan (TSP). 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 TSP account. You are also able to make tax-deferred contributions to the TSP and a portion of that amount is matched by the Government.

The three components of FERS work together to give you a strong financial foundation for your retirement years. Benefits are generally available upon retirement at age 60 with 20 years of service or at an earlier age with 30 years of service. Reduced benefits may be available with fewer years of service.

New employees are automatically enrolled in the TSP. The amount of your automatic contribution to the TSP each pay period is 5% of your basic pay. These contributions are deducted from your pay and are tax-deferred for Federal and, in most cases, state income tax purposes. In addition, the Judiciary will deposit Agency Matching Contributions equal to your 4% contribution. You will also receive an Agency Automatic Contribution equal to 1% of your basic pay. Between your contributions and the Judiciary’s contributions, the equivalent of 10% of your basic pay will be deposited into your TSP account each pay period.

Please visit the Judiciary Benefits Center to make your TSP elections and catch-up contributions (for all active participants turning age 50 or over). Please visit the TSP website for more information.

You may elect to increase, decrease, or stop your contributions to your TSP account at any time. Please visit the TSP website for more information. Feel free to contact HR with any questions.