Employee Benefits Fringe Benefits Federal Employees Retirement System Policy Number: C.E.S.P. 8-18 Date Revised: 4-20-2001 Supersedes: 12-15-1999

Summary: Establishes policy for participation in the Federal Employees Retirement System (F.E.R.S.) for certain employees on federal appointment.

• F.E.R.S.  employees pay Social Security tax with a matching contribution from Extension.

• Employees contribute a percentage of their salary to provide a basic annuity. The basic annuity provides retirement, disability, and survivor benefits. Extension also contributes.

• The Thrift Savings Plan offers  F.E.R.S.  employees the opportunity to contribute a percent of their salary on a tax-sheltered basis to investment funds. Extension automatically contributes an amount equal to 1 percent of the employee's salary to their investment account and matches the employees' contribution up to 5 percent of their salary. Benefits include a retirement annuity and/or lump sum distribution.

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