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Annuity Information

Key Dates Help

Birth Date Enter the month/day/year in which you were born (e.g., May 4, 1957 = 05/04/1957)
Service Computation Date Enter the month/day/year when your Federal service began (e.g., November 12, 1979 = 11/12/1979).  You must include years, months and days of creditable military service if you want credit for Military time.
Transfer (CSRS to FERS) Date If applicable, enter the month/day/year when you transferred (e.g., September 25, 1987 = 09/25/1987)
Proposed Retirement Date Enter the desired date of retirement as month/day/year (e.g., December 1, 2009 = 12/01/2009)

 

Spouse Information Help

Spouses' Birth Date

Enter the month/day/year in which the spouse was born (e.g., May 4, 1957 = 05/04/1957)

 

Employment and Retirement Help

Employee Type

Enter one of the following that describes your type of employment:
- Regular
- Postal
- Air Traffic Controller
- Law Enforcement
- Fire Fighter

Retirement System 

Enter the retirement system you participate in:
- CSRS
- FERS
- Transfer from CSRS to FERS

Retirement Type

Enter the type of retirement you will seek:
- Regular:
     A Voluntary retirement with at least:
            5 years of service and 62 years old
          20 years of service and 60 years old
          30 years of service and 55 years old (mra* for FERS)
    * minimum retirement age
- Optional:
     An Early retirement or a Discontinued Service retirement with at least:
        20 years of service and  50 years old
        25 years of service and any age
- Mandatory:
      Air Traffic Controller:
        20 years of service and  56 years old
      Law Enforcement:
        20 years of service and  57 years old
      Fire Fighter
        20 years of service and  55 years old

 

CSRS Sick Leave

Hours Saved Each Pay Period

Enter the average number of sick leave hours you will save each pay period from now until you retire.  The maximum for most employees is 4 hours.  However, some employee types (e.g., Fire Fighters) can earn more than four hours per pay period.

Hours Saved to Date

Enter the number of sick leave hours you have saved to date.

 

Salary

Estimated Annual Salary Increase

Enter an average percentage increase in your annual salary each year until you retire.  Consider the following:
  Annual Cost of Living Increases
  Step Increases
  Promotions

Current Annual Salary

Enter your current annual salary.  You can calculate this:
  Hourly Pay Rate x 2087
  Biweekly Pay Rate x 26

 

Survivor Benefit Desired

If CSRS, enter 0% up to 100%

CSRS employees can select a survivor benefit ranging from 0% to 100% 
  Examples:
    100% = .5500 x Full Annuity
      50% = .2750 x Full Annuity
      25% = .1375 x Full Annuity

If FERS, Enter 0%, 25% or 50%

FERS employees can select one of three options: 0%, 25%, and 50%
  Examples:
    50% = .50 x Full Annuity
    25% = .25 x Full Annuity

Note: A minimum Survivor Benefit is required for survivor to continue to receive medical benefits.


Federal Employees Group Life Insurance

Basic Coverage

Basic

Select if you are covered by Basic life insurance

At Age 65 Reduce By

You have three choices at retirement: 75%, 50%, and 0% Reduction.

If you choose 75%, your Basic Insurance Amount (BIA) will begin to reduce at age 65 or retirement, whichever is later, at the rate of 2% per month until it reaches 25% of the Basic Insurance Amount at retirement.

If you choose 50%, the reduction will be at the rate of 1% per month until it reaches 50% of your BIA at retirement.

If you choose 0% Reduction, the BIA will not reduce at all after retirement.

 

Option A Coverage

Option A Select if you are covered by Option A life insurance.
At Age 65 Effective at the end of the month after the month in which you become age 65 or retire (if later), your Option A coverage will reduce by 2 percent of the pre-retirement amount per month until it reaches 25% of the pre-retirement amount. You cannot choose No Reduction for Option A.

Option B Coverage

Option B Select if you are covered by Option B - Additional Life Insurance
Multiplier You may elect Option B Additional Life Insurance in an amount equal to one, two, three, four or five times your annual basic pay (after rounding up to the next $1,000).
At Age 65 Reduce By If you choose Reduction, effective at the month after the month you become age 65 or retire (if later), the value of your Full Reduction Option B multiples will reduce by 2% of the pre-retirement amount per month for 50 months, at which time coverage on those multiples will end.

If you choose No Reduction, you continue to pay the full premium for the No Reduction multiples for life or until you change your election on those multiples or you otherwise discontinue your coverage. If you choose No Reduction, you can change to Full Reduction at any time.


Option C Coverage

Option C Select if your Spouse and Dependents are covered by Option C.  Option C provides life insurance for your spouse and eligible dependent children. When you elect Option C coverage, all of your eligible family members are automatically covered.
Multiplier You may choose one, two, three, four or five multiples of coverage. Each multiple is equal to $5,000.00 for your spouse, and $2,500.00 for each of your eligible children.
At Age 65 Reduce By If you choose Reduction, effective at the month after the month you become age 65 or retire (if later), the value of your Full Reduction Option C multiples will reduce by 2% of the pre-retirement amount per month for 50 months, at which time coverage on those multiples will end.

If you choose No Reduction, you continue to pay the full premium for the No Reduction multiples for life or until you change your election on those multiples or you otherwise discontinue your coverage. If you choose No Reduction, you can change to Full Reduction at any time.


Thrift Savings Plan

Current Savings

C, F, and G Fund Enter the dollar amounts you currently have in the C, F and / or G Funds. 

Your Current Account Balance is available after the monthly processing cycle, once earnings have been allocated to participants' accounts.  The previous month's balance (and rates of return) are generally available on the 7th business day of the month.  You will need your Social Security number and Personal Identification Number (PIN).  If you do not know your PIN, you can request a new one from the Thrift Line (504) 255-8777


Investing

Percent of Annual Salary Invested Each Year Payroll contributions are limited to 5% of basic pay per pay period for CSRS and 10% for FERS employees.

If you are a FERS employee making more than $100,000, you are limited to a $10,000 contribution.


Distribution

C Fund%, F Fund% and G Fund%
As a TSP participant, you can invest any portion of your account in the three TSP investment funds:
  • Common Stock Index Investment (C) Fund
  • Fixed Income Index Investment (F) Fund.
  • Government Securities Investment (G) Fund

You can invest (in 5 percent increments) any percentage of future contributions to your account in any of the three TSP funds.


Withdrawal

I plan to withdraw my money The TSP provides three basic ways to withdraw your account:
  • Receive your account in a single payment Lump Sum.
  • Receive your account in a series of Monthly Payments. You have a choice as to how your payments will be calculated. You can choose to receive payments for a fixed number of months or in a fixed dollar amount until your account is depleted. You can also have the TSP compute monthly payments for you based on an IRS life expectancy table.
  • Have the TSP purchase a life Annuity for you. You have a choice of many different annuities.
If Monthly mount is selected, then distribute Savings as follows:
  • C Fund %
  • F Fund %
  • G Fund %
You can transfer your account balance among the three TSP investment funds while you are receiving monthly payments.
My withdrawal will take effect on Enter the month and year to start withdrawal.  Use the mm/yyyy format  (e.g., February 2013 = 02/2013).