The Treasury Department has announced that the interest rate on “voluntary contribution” accounts will drop in 2004 to 3.875 percent from the 5 percent rate applying in 2003 (the same 3.875 percent rate also will apply in 2004 as the interest rate charged those who owe deposits or redeposits into the retirement system in order to capture service for which no retirement deductions were made or for which contributions were withdrawn at a break in service). Voluntary contribution accounts are available only to CSRS and CSRS-Offset employees; those 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up to 10 percent of their career federal basic pay in such accounts, where the money earns interest tax-deferred until withdrawn.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 not open to FERS employees.