FERS employees have more control over their benefits package then CSRS employees. They need to be informed about the benefit package provided, the areas over which they have control and what options they have early in their career. Rehired employees have a 6-month window to choose FERS or Offset CSRS, a choice which is irrevocable. Therefore, employees should be provided with in-depth benefit information early in their employment. They should have an opportunity to ask questions — frequently the right questions cannot be asked just by reading a booklet.
Target Audience: Employees within their first year of service, new hire or rehire. Benefits and requirements change, therefore employees should be required to attend during their first year of employment and invited to attend any year thereafter. This Benefit Orientation should be offered annually.
Subjects covered:
- Retirement, Survivor & Disability Benefits
(FERS & Social Security)- When Payable
- How Computed
- Deposit, Redeposit & Military Service Deposit Rules
- Restrictions & Offsets
- Impact of COLA Rules
- Thrift Savings Plan
- Compounding of Interest
- Investment Options
- Participation Rules
- Federal Employees’ Group Life Insurance Rules and Options
- Federal Employees’ Health Insurance Rules and Options
- High Deductible Health Plans with HSAs
- Flexible spending Accounts
- Federal Employee’s Dental and Vision Insurance Program
- Leave
- Annual
- LWOP
- Leave Bank or Transfer Program
- Sick
- Family and Medical Leave