Note:  

As of January 1, 1984, the Board Plan was closed to most new employees. The Board Plan remains open to some employees with previous participation and some employees who transferred from the federal government and were not covered by Social Security during that service.

The Board provides retirement benefits to its eligible full-time employees through participation in one of the following two retirement plans:

• The Board Benefit Structure (Board Plan)
• The Federal Reserve Bank Benefit Structure (Bank Plan).

If you were hired after December 31, 1983, and you contribute to Social Security, then you participate in the Bank Plan.

If you were hired before January 1, 1984, and you are not a member of the United States Civil Service Retirement System, then you participate in the Board Plan.