Other Benefits

Salaries

The Federal government offers a wide range of salary/wages. Employees can earn annual cost of living increases and rates of pay increase according to the rate of pay of the employee's current position. For more information, see the OPM 2008 pay tables.

Retirement

Almost all new employees hired after December 31, 1983, are automatically covered by the Federal Employees Retirement System (FERS). Certain other Federal employees not covered by FERS also have the option to transfer into the plan. FERS is a three-tiered retirement plan comprised of Social Security Benefits, the Basic Benefit Plan, and the Thrift Savings Plan. For more information, see:

• OPM Office of Personnel Management
• Retirement/Separation
• Preparing for Retirement
• Employee Final Separation Clearance

Thrift Savings Plan

The Thrift Savings Plan (TSP) was established by the Federal Employees' Retirement System (FERS) Act of 1986 to provide a tax-deferred retirement savings plan for Federal employees. Benefits include:

• Tax deferral on contributions of up to 11 percent of earnings
• Choice of five investment funds
• A loan program
• Portable benefits if you leave government service
• A choice of withdrawal options
• Automatic 1 percent Agency match

• Thrift Savings Plan (TSP)

Student Loan Repayment

The DOE may repay part or all of a federally insured student loan (subject to certain limitations). For more information, see:

• Student Loan Repayment

Page last updated: 09/29/2008