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RETIREMENT

Federal Employees Retirement System

NSWCDD employees are covered by a three-part retirement package that includes a basic annuity, the Thrift Savings Plan (TSP), and Social Security.

Basic Annuity

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 (TSP)
The federal government’s Thrift Savings Plan (TSP) is a  long-term retirement savings and investment plan similar to 401(k) plans offered by private companies.  NSWCDD deposits into your account an 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 we make a matching contribution of up to 5% of your pay.  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%

 

 

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The Department of Navy is an Equal Opportunity Employer. All qualified candidates will receive consideration without regard to race, color, religion, sex, national origin, age, disability, marital status, political affiliation, sexual orientation, or any other non-merit factor. The Department of the Navy provides reasonable accommodation to applicants with disabilities. Applicant who believe they require reasonable accommodation should contact us at (951) 393-5255 for assistance.