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Today's Terms
Market Rate of Interest
Definition:
The percentage of interest paid on certain FERS deposits and refunds. Based on the average interest earned by the Civil Service Retirement and Disability Fund in the previous year. In 1998, the interest rate is 6.75%.
Defined Benefit Pension Plan
Definition:
A pension plan that promises participants a specified monthly benefit at retirement.
Basic Insurance
Definition:
The coverage, based on your annual rate of basic pay, which you automatically have as an eligible employee unless you waive it.
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