Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal Tech Talk
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- The New Generation of Database
- Satellite Communications: Acquiring SATCOM in Tight Times
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- Value of Health IT
Shows & Panels
The Voluntary Contribution Program
Monday - 6/25/2012, 10:02pm EDT
Listeners to the podcast can follow along, using a study guide, which can be found at www.nitpinc.com.
The Voluntary Contribution Program is an option available only to CSRS and CSRS-offset employees.
The VCP allows such employees to contribute funds that equal up to 10 percent of the total basic pay they have earned in federal service toward their own retirement.
CSRS employees who want to participate in this program must fill out an application before they retire.
The VCP is a way to bolster your retirement income. In its brochure "Retirement Facts 10," the Civil Service Retirement System offers this explanation: "At retirement, each $100 in your voluntary contributions account (including interest earned) will provide an annual annuity of $7 a year, plus 20 cents for each full year you are over age 55 at the time you retire."
However, it is also possible to withdraw all voluntary contributions at any time before receiving this annuity. In the broadcast Leins and Flanagan talk listeners through the steps of putting the monies into other retirement investment vehicles, such as traditional and Roth IRAs.