Changes

==FERS Annuity==

==FERS Annuity==

===Contributions===

===Contributions===

Employees mandatorily contribute a portion of post-tax salary towards their annuities, the rate differs depending on when the employee was hired as well as higher rates for certain employee categories (mainly those who must mandatorily retire early) and does not change; even an employee leaving civil service but returning will only contribute whatever rate they contributed during their first period of civil service. (This differs from the Thrift Savings Plan, although contributions from salary are automatically taken out upon hiring, the employee may elect not to participate in the TSP and request a refund of those deductions taken.) The government also contributes toward the annuities; the rates are dependent on employee job classification, and are based on actuarial assumptions which can change.

Employee contributions to the annuity are mandatory and are made post-tax, the rate differs depending on when the employee was hired as well as higher rates for certain employee categories (mainly those who must mandatorily retire early) and does not change; even an employee leaving civil service but returning will only contribute whatever rate they contributed during their first period of civil service.<ref>This differs from the [[Thrift Savings Plan]]; although contributions from salary are automatically taken out upon hiring, the employee may elect not to participate in the TSP and request a refund of those deductions taken.</ref> The government also contributes toward the annuity; the rates are dependent on employee job classification, and are based on actuarial assumptions which can and do change.

An employee leaving civil service may in most cases (but are not required to) request a refund of contributions made; only employee contributions and earned interest are refunded (the government's contribution is forfeited).  The contributions, since they were post-tax, are not taxable (but the interest is taxable).  Should an employee return to civil service, any such contributions must be repaid (with interest) or else the employee's prior service will not be counted in the annuity.

An employee leaving civil service may in most cases request a refund of contributions made; only employee contributions and earned interest are refunded (the government's contribution is forfeited).  The contributions, since they were post-tax, are not taxable (but the interest is taxable).  An employee is not required to request a refund; if the employee meets other eligibility requirements s/he can file for retirement and begin receiving annuity payments.  Should an employee have his/her contributions refunded and later return to civil service, those refunded contributions must be repaid (with interest) or else that prior service will not be counted in the annuity (but repayment is optional).

===Retirement Eligibility===

===Retirement Eligibility===