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    Thrift Plan

Employer Matching Contributions

If you have fewer than five years of service, your employer matches 80 percent of the first 6 percent of salary that you contribute to the Plan. The maximum amount of this matching contribution is 4.8 percent of your salary. Employer matching increases to $1 for every $1 you contribute, up to 6 percent of salary, if you have five or more years of service.

This means that for every $1.00 you save (up to 6 percent of your pay), your Employer adds $.80 (up to 4.8 percent of your pay).

Savings and Matching Contributions

The following chart shows an example of savings and matching contributions for an employee who earns $30,000 per year (figures do not include any investment gains or losses):

IF YOU EARN $30,000 A YEAR AND YOU SAVE: YOUR ANNUAL CONTRIBUTION IS: YOUR EMPLOYER ADDS: YOUR ANNUAL TOTAL SAVINGS IS:
1 % $ 300 $ 240 $ 540
2 %   600   480 1,080
3 %   900   720 1,620
4 % 1,200   960 2,160
5 % 1,500 1,200 2,700
6 % 1,800 1,440 3,240