Your statements show:
- Account balances at the beginning of the period
- Any activity in the account during the period (contributions, distributions, etc.)
- Gains and/or losses on the account
- How current contributions are invested
- Any outstanding loan balances
- Vested amount and account balance at the end of the period
Qualified Domestic Relations Orders
Your Thrift Plan benefit can become subject to a property
or other financial settlement in case of a divorce. The court may issue a Qualified Domestic Relations Order--a court order related
to divorce--which could award a portion of your account to your
former spouse, your child, or another dependent. Contact your Human
Resources Department if this situation applies to you, and they
can arrange to send you or your attorney a model Qualified
Domestic Relations Order.
Loss of Benefits
If you leave the Federal Reserve before you are 100
percent vested in all Employer Matching contributions and investment
earnings on that money, you (or your beneficiary) will forfeit any
non-vested amounts in your Plan account.
Pension Benefit Guaranty Corporation
The Thrift Plan is not covered by the Employee Retirement
Income Security Act of 1974 (ERISA), so the Pension Benefit Guaranty
Corporation (PBGC) does not insure your benefits under the Thrift
It is a government plan that is exempt from the requirements
of the Employee Retirement Income Security Act of 1974 (ERISA).
The Plan is qualified under Sections 401(a) and 501(a) of the Internal
Revenue Code, and the contributions meet the requirements of Sections
401(k) and 401(m) of the Code.