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Federal Employees Retirement System


NSWCDD employees are covered by the Federal Employees Retirement System (FERS). FERS provides benefits from three different sources: a Basic Benefit Plan, Social Security, and the Thrift Savings Plan (TSP). NSWCDD pays part of the Basic Benefit and Social Security and withholds the employee’s share as payroll deductions. After retirement, employees receive annuity payments each month for the rest of their lives.



For additional information about FERS, including retirement eligibility requirements and survivor benefits, please see the Office of Personnel Management FERS website.


Thrift Savings Plan

For more information on TSP, visit the
Thrift Savings Plan website.

 

Employee Contribution

Automatic 1% Contribution

Agency Matching Contribution

Total TSP Contribution

0%

1%

0%

1%

1%

1%

1%

3%

2%

1%

2%

5%

3%

1%

3%

7%

4%

1%

3.5%

8.5%

5%

1%

4%

10%

More than 5%

1%

4%

Employee Contribution + 5%