The Bank Benefit Structure
The Retirement Plan for Employees of the Federal Reserve
System (the Retirement Plan or the Plan) offers a foundation for
your retirement income. Along with your Thrift Plan savings and
Social Security benefits, the pension you receive from your Retirement
Plan provides you with a dependable source of income throughout
your retirement years.
Download a copy of the Smart
Benefits Highlights Brochure.
With the Retirement Plan, you have an opportunity to:
- Earn income for your retirement based on
your compensation and years of service with the Federal Reserve
- Receive a deferred benefit from the Plan
even if you leave the Federal Reserve before you are eligible
to receive an immediate benefit
- Choose to receive your benefit in the form of an
annuity or in a lump sum that you can take with you if you leave
or retire from the Federal Reserve
- Choose the payment start date for your annuity,
beginning as early as age 50, provided you have at least five
years of service and didn't receive your entire benefit as a lump
- Choose the way in which your annunity is
paid to you.
Portable Cash Option
In certain circumstances, the Plan also pays a death benefit
to your beneficiary if you die.
Office of Employee Benefits
Federal Reserve Employee Retirement Benefits System
744 Broad Street
Newark, NJ 07102