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Retirement & Savings Programs

The Office of the Comptroller of the Currency (OCC) offers many ways to save for retirement including federal retirement plans, federal Thrift Savings Plan and the agency 401(k) Plans.

OCC 401(k) Plan*

The OCC 401(k) Plan is a tax-deferred retirement savings and investment plan for OCC employees. Eligible employees can save and invest through a pretax account, and/or a Roth or non-Roth Voluntary After-Tax account. Employees receive a discretionary biweekly OCC contribution up to 4 percent of adjusted base salary and can receive up to 1 percent of salary in matching contributions. Employees may contribute up to the IRS combined TSP and 401(k) annual elective deferral limit. Additionally, employees eligible to make catchup contributions may contribute up to the IRS catchup limit. These limits vary from year to year, so visit the IRS web page for the most current information on the IRS elective deferral and catchup limits.

Thrift Savings Plan (TSP)

The TSP is a tax-deferred retirement savings and investment plan for federal employees. Employees in the Federal Employees Retirement System (FERS) can save and invest through a pretax account and/or a Roth. Employees receive an automatic biweekly OCC contribution of 1 percent of their adjusted base salary and can receive up to 4 percent of their adjusted base salary in matching contributions. Employees may contribute up to the IRS combined TSP and 401(k) annual elective deferral limit. Additionally, employees eligible to make catchup contributions may contribute up to the IRS catchup limit. These limits vary from year to year, so visit the IRS web page for the most current information on the IRS elective deferral and catchup limits.

Federal Employees Retirement System (FERS)

FERS is a three-part retirement plan consisting of a defined benefit from the Office of Personnel Management (OPM), a tax-deferred retirement savings plan (TSP), and Social Security benefits. Most newly-hired employees are automatically covered under FERS.

* Denotes OCC-specific programs.