Retirement Coverage Error Correction Provisions of FERCCA
|
Type of Error |
Retirement Benefit Options |
What happens to Social Security |
What happens to Thrift Savings Plan |
|
|
Erroneously Put In: |
Correct Coverage Is: |
|||
|
CSRS |
FERS |
Choice between FERS and CSRS Offset coverage. * |
Erroneous CSRS contributions are reallocated to Social Security. |
If you choose FERS, you may make make-up contributions. Lost earnings are paid on make-up contributions. |
|
CSRS Offset |
FERS |
Choice between CSRS Offset and FERS. * |
No change. |
|
|
CSRS Offset |
CSRS |
None. Correction to CSRS. |
Social Security coverage terminates. |
No change. |
|
CSRS |
CSRS Offset |
None. Correction to CSRS Offset. |
Erroneous CSRS contributions are reallocated to Social Security. |
|
|
FERS |
CSRS |
Choice between FERS and CSRS coverage. * |
If you choose CSRS, Social Security coverage terminates. |
If you choose CSRS, your contributions and earnings remain in your account. Government contributions and earnings are removed from your account. |
|
FERS |
CSRS Offset |
Choice between FERS and CSRS Offset coverage. * |
No change. |
If you choose CSRS Offset, your contributions and earnings remain in your account. Government contributions and earnings are removed from your account. |
|
CSRS |
Social Security |
Choice between CSRS Offset and Social Security. * |
Erroneous CSRS contributions are reallocated to Social Security. |
If you choose Social Security, you may keep your contributions and earnings. Government contributions and earnings are removed from your account. |
|
FERS |
Social Security |
Choice between FERS and Social Security coverage. * |
No change. |
|
|
CSRS Offset |
Social Security |
Choice between CSRS Offset and Social Security. * |
||
|
Social Security |
CSRS |
None. Correction to CSRS. |
Social Security coverage terminates. |
You may make make-up contributions. Lost earnings are paid on make-up contributions. |
|
Social Security |
CSRS Offset |
None. Correction to CSRS Offset. |
No change. |
|
|
Social Security |
FERS |
None. Correction to FERS. |
||
*
Most retirement benefit options require that you were in the wrong retirement plan for at least 3 years.
Page created 28 July 2000