NRCS Employee NRCS Employee Benefits & YouBenefits & You

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NRCS Employee Benefits & You

Federal Employees Health Benefits (FEHB) Federal Employees Group Life Insurance (FEGLI) Federal Long Term Care Insurance Program (FLTCIP) Flexible Spending Accounts (FSAFeds) Thrift Savings Plan (TSP) Leave Work Schedules Holidays Employee Assistance Program (EAP)

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Federal Employees Health Benefits (FEHB)

Annual Open Seasons (Mid-November – Mid-December)

Open Season changes become effective the 1st pay period of the next calendar year

No Pre-existing Conditions clause Purchased with pre-tax dollars (premium

conversion) unless employee makes election otherwise

Certain life event changes are allowed outside of an open season, i.e., marriage, childbirth, change in job status, etc.

Government pays 72% of the average premium for full time employee’s premium (prorated for part time based on the number of hours an employee works)

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Federal Employees Health Benefits (FEHB)

Choice of plans & options:

Fee-for-Service plans:Fee-for-Service plans: Are nationwide plans

available to all employees. Utilizes preferred providers to keep costs down. Some plans allow you to select providers outside of the preferred provider list at a slightly higher payment

Health Maintenance Organizations (HMO)Health Maintenance Organizations (HMO):

Are plans that are limited to a specific geographic area and members are required to use plan doctors

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Federal Employees Health Benefits (FEHB)

New employees have 60 days from their entrance on duty to make an election to participate

All others are required to wait until an open season or a life event that permits changes in enrollment

http://www.opm.gov/insure/health/index.asp

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Federal Employees Group Life Insurance (FEGLI)

Term insuranceNew employees are automatically enrolled in

Basic if it is not waived (no proof of insurability required)

Basic Insurance = Your salary rounded up to the next thousand + 2 thousand

Example: Salary $34,149 rounded up to $35,000 + 2,000 = $37,000

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Federal Employees Group Life Insurance (FEGLI)

Option A = $10,000 additional Option B = Salary X 1,2,3,4 or 5 multiplesOption C, family = $5,000 on spouse and

$2,500 on dependent children X 1,2,3,4, or 5 multiples

Double indemnity up to age 35 on Basic After age 35, starts reducing 1/10 of a percent each year until

age 45 at which time the insurance amount is the face value

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Federal Employees Group Life Insurance (FEGLI)

New employees have 31 days to waive the Basic insurance or elect more options

Can waive or stop life insurance at any time Employees who have waived insurance, may request

coverage through filing the proper paperwork which includes a current physical

No regular open seasons http://www.opm.gov/insure/life/index.asp

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Federal Long Term Care Insurance Program (FLTCIP)

Provides long term care insurance for Federal employees and their spouses, parents, parents-in-law, stepparents, and adult children

NOT just for older people 40% of persons receiving long term

care are working adults between the ages of 18 and 64

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Federal Long Term Care Insurance Program (FLTCIP)

Cost is based on your age; so the younger you are, the less expensive the premiums

Long Term Care Insurance can help pay for costs of care when you need help with activities you perform every day, or you have a severe cognitive impairment, such as Alzheimer's disease

www.opm.gov/insure/ltc/faq/index.asp

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Flexible Spending Accounts (FSAFeds)

FSAFEDS offers two different flexible spending accounts (FSAs):

a health care flexible spending account;

and a dependent care flexible spending account

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Flexible Spending Accounts (FSAFeds)

Health Care Flexible spending accounts allow you to set aside pre-tax dollars to pay for out-of-pocket expenses for healthcare, dental, optometry, prescription drugs, and some over-the-counter drugs

Dependent Care Flexible spending accounts allow you to use pre-tax dollars to pay for child or elder dependent care

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Flexible Spending Accounts (FSAFeds)

By paying with pre-tax dollars, you reduce your tax liability and have more disposable income

What requirements must be met for an OTC drug to be eligible for reimbursement through my HCFSA? T he item must be a medicine or drug used “primarily for

the prevention or alleviation of a physical or mental defect or illness”

The item must not be used for general health or cosmetic purposes (vitamins, anti-aging creams, etc.)

You, your spouse or dependent must use the item The expense must be for medical care during the current Plan

Year https://www.fsafeds.com/fsafeds/eligibleexpenses.asp

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Flexible Spending Accounts (FSAFeds)

If there is money remaining in your FSA account at the end of the year, it disappears; no carry over

New employees have 60 days from their entrance on duty to make an election to participate

All others must wait until an open season or a permissible life event

https://www.fsafeds.com/fsafeds/index.asp

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Thrift Savings Plan (TSP)

TSP is a retirement savings and investment plan for Federal employees

Purpose of TSP: to provide retirement income

TSP is a defined contribution plan under IRS rules

The retirement income you receive from your TSP account will depend on how much you (and your agency, if you are a FERS employee) have contributed to your account

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Thrift Savings Plan (TSP)

Section 402 of the Tax Code limits the amount of income you may elect to defer under all cash or deferred arrangements during a tax year—contact Human Resources for more information on the annual limits or visit http://www.tsp.gov

For employees over the age of 50 who are contributing at the IRS maximum amount, catch-up contributions may be made over and above the percentages shown (This amount is also limited by the Tax Code)

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Thrift Savings Plan (TSP)

After you enroll, contributions are deducted from your pay automatically and sent to the TSP.

Contributions are automatically invested in the Government Securities Investment (G) Fund until you make a different choice.

When TSP receives your first contribution, you will receive a “welcome letter” containing your account number.

Separately, you will receive a 4-digit Personal Identification Number (PIN), which you will need to access your account and your TSP account number.

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Thrift Savings Plan (TSP)

The TSP offers you two approaches to investing your account:

Lifecycle Funds (L Funds)

Individual TSP Funds

(G, F, C, S, and I Funds)

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Thrift Savings Plan (TSP)

Lifecycle (L) Funds: The L Funds offer an easy option for those

participants who do not have the time, interest, or knowledge to manage their TSP investments.

The L Funds are “lifecycle” funds that are invested according to a professionally determined mix of stocks, bonds, and securities based on various time horizons.

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Thrift Savings Plan (TSP)

Lifecycle (L) Funds (Continued): L 2040 — 2035 and later for retirement

eligibility L 2030 — 2025 through 2034 L 2020 — 2015 through 2024 L 2010 — 2008 through 2014 L Income — Now withdrawing

If you decide to invest your entire account in one of the L Funds, you are done making your investment decisions. The TSP will do the rest.

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Thrift Savings Plan (TSP)

The TSP also has five individual investment funds, e.g., G, F, C, S and I:

Government Securities Investment (G) Fund — invested in short-term, U.S. Treasury securities that are specially issued to the TSP (Government securities with no risk of loss)

Fixed Income Index Investment (F) Fund — invested in a bond index fund that tracks the Lehman Brothers U.S. Aggregate (LBA) bond index (U.S. investment-grade corporate, Government, and mortgage-backed securities)

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Thrift Savings Plan (TSP)

The TSP five individual investment funds (continued):

Common Stock Index Investment (C) Fund — invested in a stock index fund that tracks the Standard & Poor’s (S&P) 500 stock index (primarily large U.S. companies)

Small Capitalization Stock Index Investment (S) Fund — invested in a stock index fund that tracks the Dow Jones Wilshire 4500 Completion stock index (medium to small U.S. companies)

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Thrift Savings Plan (TSP)

The TSP five individual investment funds continued):

International Stock Index Investment (I) Fund — invested in a stock index fund that tracks the Morgan Stanley Capital International EAFE (Europe, Australasia, Far East) stock index (primarily large companies in 21 developed countries)

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Thrift Savings Plan (TSP)

The TSP five individual investment funds continued):

If you choose your own investment mix from the G, F, C, S, and I Funds, remember that your investment allocation is one of the most important factors affecting the growth of your TSP account. If you prefer this “hands-on” approach, keep the following points in mind:

The F Fund (bonds) and the C, S, and I Funds (stocks) have higher potential returns than the G Fund (Government securities). But stocks and bonds also carry the risk of investment losses, which the G Fund does not.

On the other hand, investing entirely in the G Fund may not give you the returns you need to meet your retirement savings goal.

http://www.tsp.gov

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Designation of Beneficiaries

Employees may designate beneficiaries for:

Unpaid compensation (final check + lump sum annual leave payment)

Retirement (CSRS/FERS) Life Insurance TSP

The normal order of precedence, if no designation is made: spouse, surviving children, surviving parents, surviving siblings

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Annual Leave

Annual Leave:

Group 1 - 4 hours per pay period 1 – 3 years Group 2 - 6 hours per pay period*3 -15 years Group 3 - 8 hours per pay period 15 + years*Employees in this category earn 10 hours in final pay

period of the year

Part-time employees earn at a pro-rated amount

Group 1 – 1 hour for each 20 hours in a pay status Group 2 – 1 hour for each 13 hours in a pay status Group 3 – 1 hour for each 10 hours in a pay status

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Annual Leave

Annual leave in excess of 2 days, requires OPM 71, Request for Leave, be completed and approved by supervisor

240-hour carry over limitation each year

Use or lose leave must be scheduled and approved at least 3 pay periods before the end of the leave year for the possibility of carrying it over

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Sick Leave

Full time employees earn 4 hours per pay period (pro-rated for part time employees – 1 hour for every 20 hours in a pay period)

Sick leave may be used for illnesses, medical, optical, and dental appointments of the employee or a dependent

Family Friendly Leave Act (FFLA) allows employees to use up to 13 days of sick leave for the care of dependents, funeral arrangements, etc.

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Sick Leave

Expanded FFLA in 1999 allows employees up to 12 weeks of paid sick leave to care for a family member with a serious health condition, i.e., stroke, heart attack, cancer, etc. NOT in addition to the 13 days of sick leave mentioned above.

Family Medical Leave Act (FMLA) allows employees up to 12 weeks of unpaid leave to care for a family member with a serious health condition, i.e., stroke, heart attack, cancer, etc.

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Sick Leave

Sick leave in excess of 2 days requires that the employee submit a OPM 71, Request for Leave, to their supervisor (even if it is to care for a family member)

No carry over limitation

Abuse of sick leave may require an employee to provide a doctor’s statement for any absence if they say they are sick

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Work Schedules

Traditional basic 40-hour work requirement

Alternative Work Schedule:

Maxiflex Compressed tour (5/4/9)

Work schedule is determined by the supervisor based on the needs of the office

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Work Schedules

Traditional basic 40-hour work requirement: 7:30 a.m. – 4:00 p.m. with 30-minute lunch

Compressed tour 5/4/9

Pay period consists of eight 9-hour days and one 8-hour day with one day off per pay period

Not eligible to earn credit leave

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Work Schedules

Maxiflex: Consists of an 8-hour day Flex on starting and ending time ½ hour before or

after scheduled time, i.e., scheduled time is 7:30 – 4:00 daily; employee can begin work anytime from 7:00 – 8:00 and adjust the end of their day

May earn credit leave with supervisory approval– daily maximum of 2 hours– no more than 24 hours can be carried at any given time

Part time employees may also participate in maxiflex; credit leave may be earned in a pro-rated amount

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Holidays

New Year's Day (January 1) Birthday of Martin Luther King, Jr. (Third Monday in

January) Washington's Birthday (Third Monday in February) Memorial Day (Last Monday in May) Independence Day (July 4) Labor Day (First Monday in September) Columbus Day (Second Monday in October) Veterans Day (November 11) Thanksgiving Day (Fourth Thursday in Nov) Christmas Day (December 25)

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Employee Assistance Program (EAP)

Counseling resource for you or a family member: Stress or burnout Financial concerns Marriage & family problems Alcohol or chemical dependency Work-related problems Parent-child difficulties Emotional problems

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Employee Assistance Program (EAP)

Allowed up to 6 to 8 visits on government time; if additional counseling is needed, employee may use sick leave or annual leave or schedule appointments on off-duty hours

Confidentiality is assured

Supervisors may suggest the use of EAP

Sand Creek Group 1-888-243-5744 (Voice) 1-800-627-3529 (TDD)

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For more information on these and other USDA-NRCS benefits, contact your supervisor or the Human Resources staff.

Thank you!

USDA NRCS is an equal opportunity employer and provider