Jobs, Internships, Fellowships, and Volunteer Opportunities. The Federal Employees Health Benefits (FEHB)The Federal Employees Health Benefits (FEHB) Program can help you to meet your health care needs. Congressional Pensions Update. Active members now must purchase a plan under the small-business health options program on the exchange in order to receive. Office of Personnel Management. About Open 'About' Submenu. Multi-State Plan Program; Tribal Employers; Special Initiatives. OPM.gov Main Retirement. Text for S.2110 - 114th Congress (2015-2016): Women's Pension Protection Act of 2015. Members of Congress have helped create many of the laws that shape the retirement investment landscape today and they are likely to enjoy a nicer retirement than the average American, according to a new Bankrate.com analysis. Federal Employees Retirement System The Federal Employees Retirement System (FERS) is the retirement system for employees within the United States civil service. Federal employees, retirees and their survivors enjoy the widest selection of health plans in the country. You can choose from among Fee- for- Service (FFS) plans, regardless of where you live, or Plans offering a Point- of- Service (POS) Product and Health Maintenance Organizations (HMO) if you live (or sometimes if you work) within the area serviced by the plan. Some FFS plans are open to all enrollees, but some require that you join the organization that sponsors the plan. Some plans limit enrollment to certain employee groups. Membership requirements and/or limitations also apply to any POS product the FFS plan may be offering. The Office of Personnel Management's website at www. Federal employees can use pre- tax dollars to pay health insurance premiums to the Federal Employees Health Benefits Program under the . Premium conversion uses Federal tax rules, which allows employees to deduct their share of health insurance premiums from their taxable income, thereby reducing their taxes. This plan is similar to the private sector, which has allowed employees to deduct health insurance premiums from their taxable incomes for many years. Back to Top. Federal Dental and Vision Program (FEDVIP)In an effort to give employees additional healthcare choices – the government introduced a new dental and vision program - FEDVIP. Eligible family members include an enrollee's spouse and unmarried dependent children under the age of 2. Congress Steps Toward New . First no one will stay for 20 years under such a program. Tying retirement to a 401K just isn’t a good idea. Congressional pension is a pension made available to members of. If Members leave Congress before reaching retirement age. Congress called for the development of a new federal employee retirement program to complement. The rules for family members' eligibility are the same as they are for the FEHB Program. Employees must be eligible for the FEHB Program in order to be eligible to enroll in FEDVIP. It does not matter if they are actually enrolled in FEHB - eligibility is the key. As such, it does not build up any cash value or paid- up value. It consists of Basic life insurance coverage and three options. In most cases, if you are a new Federal employee, you are automatically covered by Basic life insurance and your payroll office deducts premiums from your paycheck unless you waive the coverage. Salaries and Benefits of US Congress Members: The Truth. Members of Congress receive retirement and health benefits under the same plans available to other federal employees. They become vested after five years. In addition to the Basic, there are three forms of Optional insurance that you can elect. You must have Basic insurance in order to elect any of the options. Unlike Basic, enrollment in Optional insurance is not automatic - - you must take action to elect the options. The cost of Basic insurance is shared between you and the Government. You pay 2/3 of the total cost and the Government pays 1/3. Your age does not affect the cost of Basic insurance. You pay the full cost of Optional insurance, and the cost depends on your age. The Office of Federal Employees' Group Life Insurance (OFEGLI), which is a private entity that has a contract with the Federal Government, processes and pays claims under the FEGLI Program. For more information on the program, you can visit the Office of Personnel Management’s website at www. Back to Top. Retirement. Library staff are covered under one of two retirement plans: FERS or CSRS. The Federal Employees Retirement System (FERS) covers almost all new Federal civilian employees hired after 1. It was designed in response to changing times and Federal workforce needs. Many of its features are . The new retirement system is flexible. Covered employees are able to choose what is best for their individual situation. The retirement system is a three tiered retirement plan. The three components are Social Security Benefits, Basic Benefit Plan, and Thrift Saving Plan Benefits. Retirement benefits under the Civil Service Retirement System (CSRS) are financed by both the employee and Government contributions to the retirement fund, and provide benefits based on length of service and the average salary over the highest three years of pay. This retirement system covers most Federal civilian employees hired before 1. Back to Top. Thrift Savings Plan (TSP)The Thrift Savings Plan (TSP) is a retirement savings and investment plan for Federal employees. The purpose of the TSP is to provide retirement income. It offers Federal civilian employees the same type of savings and tax benefits that many private corporations offer their employees under so- called . Employees covered by the Federal Employee's Retirement System (FERS) and the Civil Service Retirement System (CSRS) can contribute to the TSP. The rules are different for FERS and CSRS employees. FERS Participants – you may elect to contribute any dollar amount or percentage of your basic pay. However, you annual dollar total cannot exceed the Internal Revenue Code limit, which is $1. Once you are eligible, you will receive: Agency Automatic (1%) Contributions; Agency Matching Contributions; and immediate vesting in Agency Matching Contributions and vesting generally in 3 years in Agency Automatic (1%) Contributions. CSRS Participants - you may elect to contribute any dollar amount or percentage of your basic pay. However, you annual dollar total cannot exceed the Internal Revenue Code limit, which is $1. CSRS participants do not receive any agency contributions. All Participants - The TSP offers the following features: before tax savings and tax- deferred investment earnings; low administrative and investment expenses; choice of investments in six funds: Government Securities Investment (G) Fund; Common Stock Index Investment (C) Fund; and Fixed Income Index Investment (F) Fund; Small Capitalization Stock Index (S) Fund; International Stock Index (I) Fund; and the Lifecycle (L) Funds; Interfund transfers; loans from your own contributions and earnings while you are in Federal Service; limited in- service withdrawals for financial hardship or after you reach age 5. Back to Top. Flexible Spending Accounts (FSA)Flexible Spending Accounts (FSA) offer tax savings by allowing you to pay for out- of- pocket expenses with pre- tax money for health care and dependent care expenses. For additional information, go to: http: //www. Back to Top. Competitive Salaries. Cost- of- Living Allowances (COLA) - scheduled annual pay increases. Special Salary Rates - for certain Information Technology positions. Locality Pay Adjustment - for the Washington- Metropolitan area. Within- Grade Increases (WIG) - increases in employee's rate of basic pay by advancement from one step of his/her grade to the next after meeting requirements for length of service and performance. Quality Step Increases (QSI) - an increase in employee's rate of basic pay through an additional within- grade increase granted for sustained high quality performance. Back to Top. Paid Leave. Annual Leave - An employee may use annual leave for vacations, rest and relaxation, and personal business or emergencies. An employee has a right to take annual leave, subject to the right of the supervisor to schedule the time at which annual leave may be taken. Annual Leave Ceiling - the maximum amount of annual leave that may be carried over into the new leave year is 2. There are no limits on the amount of sick leave that can be accumulated. Unused sick leave accumulated by employees covered by the Civil Service Retirement System will be used in the calculation of their annuities. Accrual Rates: Full- time employees = . Back to Top. Flexible Work Schedules. Flexible work schedules are offered in many Library offices instead of traditional fixed work schedules to allow employees to choose their arrival and departure times to help employee's balance work and family or personal responsibilities. Flextime Schedule - A flexitime schedule permits a staff member to choose his/her own work hours on a daily basis within established constraints, but shall work eight hours each day. During the flexible time a staff member may vary starting and stopping times within established time limits. Compflex Schedule - A staff member may work more or less than 4. A workday may consist of eight or nine hours and non workdays usually include Saturday and Sunday, and Monday or Friday. Credit Hours - Credit hours are given for authorized work performed by an employee in excess of his/her regularly scheduled tour of duty on any workday in order to vary the length of a subsequent workday. Such work is compensated by an equal amount of time off. Compensatory Time Off - employee's may request compensatory time off in lieu of payment for irregular or occasional overtime work or regularly scheduled overtime work. Back to Top. Incentive Awards. Incentive awards are given to encourage staff members to participate in improving efficiency and economy of Government operations and to recognize and reward staff members, individually or in groups, for their suggestions, inventions, or special achievements which contribute to efficiency, economy, or other improvement in Government operations. Library staff can be considered for Honorary, Cash, On- the- Spot, Job Performance, and Time Off awards. Back to Top. Training. Library employees receive on- the- job training and are eligible for skill builder. Library Services' Instructional. Design and Training Division and by the Office of Workforce Performance and Development's Center For Learning and Development. Subsidies are distributed monthly to be used on the Metrorail system, Virginia Rail Express, MARC commuter trains, county and commuter buses and qualified commercial van pools.
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