S ecure Your Future

At NSA, we continue to provide for our employees long after their service is finished. We offer a variety of retirement savings plans to help make the transition from work to retirement smooth, with as minimal loss of income as possible.

Federal Employees Retirement System (FERS)
The Federal Employees Retirement System (FERS) is the retirement plan for those entering Federal service under a permanent appointment. FERS benefits are portable and allow employees to take an active role in securing their futures.

FERS is a three-tiered plan composed of the following components:

• Basic Benefit Plan: Establishes an annuity amount based on an employee's age, years of Federal service as of the effective retirement date, and average highest salary attained over a 3-year consecutive period. Disability benefits and benefits for survivors of federal employees and retirees are also provided.
  
  
• Social Security: Benefit payments made from the Social Security Fund at retirement are based on an employee's age, type of benefit applied for, and earnings history from social security-covered wages.
  
  
• Thrift Savings Plan (TSP): The TSP is a tax-deferred retirement savings and investment plan similar to 401(k) plans offered by private employers. Employees participating in the TSP can choose from several investment plans, including government securities, common stock funds, bond index funds, small capitalization stock, and international stock funds.

Note: Civil Service Retirement System (CSRS) may cover new employees who were hired prior to January 1, 1987, and have at least five years federal civilian service.

Thrift Savings Plan (TSP)
The Thrift Savings Plan (TSP) is a retirement savings and investment plan for Federal employees. Employees covered by the FERS and the CSRS can contribute to the TSP, although participation rules are different for FERS and CSRS employees.

CONTRIBUTION LIMITS: You may elect to contribute any dollar amount or percentage (1 to 100) of your basic bi-weekly pay. However, your annual dollar total cannot exceed the Internal Revenue Code annual elective deferral limit, which is $15,500 for 2007.

FERS employees receive an automatic 1% contribution starting 6 months to 1 year after entering duty. The government matches employee contributions dollar for dollar on the first 3% and 50 cents on the dollar for the next 2%.

TSP now accepts rollovers from other 401(k)/qualified retirement plans.