Vesting is your right to the money in your Thrift
Plan accounts. You are always 100 percent vested in the value of
your own contributions and any investment earnings on those contributions.
This includes any money you roll over or transfer to the Plan.
Employees receive 20 percent of their Employer Matching Contribution
for each year of service, becoming 100 percent vested after completing
five years of service.
| IF YOU... |
THEN... |
AND... |
| enroll when you first
start with the Federal Reserve |
you are 20 percent vested in all
Employer Matching contributions and investment earnings on that
money after one year of service with the Federal Reserve |
you are credited with
a year of service at your employment anniversary date |
| retire on or after age 65, become
totally and permanently disabled, die, or the Plan terminates |
you are 100 percent
vested |
there is no service
requirement |
| do not elect to participate
when you first start working with the Federal Reserve |
you will receive vesting service
credit for years of service with the Federal Reserve before
you become a participant |
you can enroll at any
time |
If you leave the Federal Reserve and receive the value
of your Thrift Plan account, you will be treated as a new employee
for vesting purposes if you are later rehired.
However, if you left your balance in the Plan, and
are later rehired, you will keep your original hire date for vesting
service calculations. However, any previously forfeited contributions
are not restored.
