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Reply to "Basis for FERS-FRAE contribution?"
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[quote=Anonymous]You won't have to change your withholding. "After tax" means that it isn't deductible for federal income tax purposes. They calculate the amount due based on your gross salary. If you make 100,000 a year, your FERS contribution is 4,400. But they take that amount from what is left after you have done your withholding for taxes, unlike, say health insurance or 401k, which is taken from gross salary BEFORE they figure tax withholding. It works like social security or Medicare taxes. In case you are wondering where all that 4.4% goes, 0.8% of it goes to your FERS employee pension trust. The other 3.6% goes to the CSRS trust for employees hired before 1983 to cover its shortfall.[/quote]
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