Effective April 1st 2015, the Benefit Accrual Rate for Credited Future Service increased from 1% to 1.25%. The Benefit Accrual Rate is applied to contributions made on behalf of participants to determine the amount of monthly benefit that will be payable at retirement. This increase will apply to contributions for hours worked after April 1, 2015.
For more details on this increase, please follow the below link to view the CPF Report.
CPF Report: Notice of Increase in the Benefit Accrual Rate.
Identity theft has become a national concern. To provide the best protection against identity theft, we urge you to switch to Direct Deposit for receipt of your monthly benefit.
With Direct Deposit, we automatically wire your funds directly to your bank account so that you have immediate use of them on the first day of each month. Direct Deposit is much quicker, safer and more reliable than forwarding a paper check through the mail. To switch to Direct Deposit, download the authorization form Direct Deposit Authorization from this site. If you would like CPF to mail you a form, please call us at 202-362-1000 (extension 309) or use the Contact Us page to submit your request for a form. Once you complete the authorization form, we can usually implement Direct Deposit within 60 days.
If you have changed your address and not notified CPF, please do so as soon as possible. Each year we mail important notices and documents such as the Semi-Annual Benefit Statement and 1099s. If we do not have your new address you could be missing valuable information. To update your address download the change of address form and submit it to our office. We do not accept address changes over the phone.