The interest paid in the voluntary contribution retirement savings program available to CSRS and CSRS Offset (but not FERS) employees will be 1.875 percent in 2017, down slightly from 2 percent this year. Eligible employees may invest an amount equal to up to 10 percent of their career federal basic pay in such accounts, where the money earns interest tax-deferred until withdrawn. Withdrawals are allowed either as lump-sums at any time or as annuities at retirement. The program is separate from the TSP and participation in one does not affect the other. To open a VC account, file form SF 2804 at the address on the form. The interest rate also applies to deposits and redeposits into the retirement fund needed to get credit for service for which no contributions were taken or for which refunds were received at a break in service, as well as to payments to capture credit toward federal retirement for military service time, if pertinent.
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