HEALTH INSURANCE - FEDERAL EMPLOYEES HEALTH BENEFITS (FEHB)

The health insurance program is widely recognized for its impressive array of coverage choices. During annual open seasons, employees may select from among a variety of managed fee-for-service (FFS) plans, health maintenance organizations (HMO), and an increasing number of plans offering a point-of-service product, combining attractive features of both FFS and HMO plans.

The agency and its covered employees share the cost of premiums, with the agency paying about 70 per cent of the total.

There are no waiting periods or pre-existing condition limitations;

New employees are eligible immediately for coverage, regardless of age or health history.

Enrollment consists of two types: self-only and self and family. Under self and family coverage, the employee, spouse, and all eligible dependent children are covered with one premium; there are no extra charges based on the number of family members.

Another notable feature of the health benefits program is catastrophic coverage, which limits out-of-pocket expenses.

On retirement, the employee who meets the minimum participation requirements may continue group coverage (including family coverage), with no reduction in benefits. Retired employees also may participate in annual open seasons and have the full range of choices that are available to active employees.

For those employees who leave Federal service before retirement eligibility, the benefits are portable through conversion to a non-group contract, or temporary continuation of group coverage (often referred to as "COBRA coverage").

To learn more about the health insurance program click:

http://www.opm.gov/insure/handbook/FEHB15.htm

LIFE INSURANCE - FEDERAL EMPLOYEE GROUP LIFE INSURANCE (FEGLI):

Beginning the first day in pay status, most employees are covered by Basic group term life insurance in the amount of their annual salary rounded to the next thousand, plus $2,000. Employees may elect additional coverage in the amount of $10,000 and in multiples up to five times the annual salary. Family coverage also may be elected in multiples ranging from $5,000 to $25,000 for spouse, and $2,500 to $12,500 for each eligible child. Treasury, as the employer, pays one-third of the cost of Basic.

Basic and optional insurance is provided at the time of employment, regardless of physical condition, with no pre-existing condition limitations. Employees who meet certain duration of coverage requirements may continue life insurance in retirement.

To learn more about the life insurance program click:

http://www.opm.gov/insure/life/index.htm

RETIREMENT
The Federal Employees' Retirement System (FERS) will automatically cover most newly hired ATF employees. FERS is a three part retirement plan consisting of

Social Security
Basic Benefit Plan
Thrift Savings Plan (TSP)

Social Security
While employed, most workers pay Social Security taxes, consisting of Old Age, Survivors, and Disability Insurance (OASDI) and Hospital Insurance (Medicare). Social Security OASDI replaces a portion of earnings lost as the result of retirement, disability and death, while Medicare pays hospital expenses for the elderly and disabled..

To become eligible for OASDI benefits, the worker and his/her family must meet different sets of requirements for each type of benefit and the worker must have paid Social Security taxes for an amount of time, as determined by the type of benefit for which applying. Monthly benefits are based on adjusted average earnings upon which taxes were paid; family composition; and Consumer Price Index (CPI) changes that occur after becoming eligible for benefits. Generally, to receive Medicare coverage, a worker must be at least 65 years old or disabled.

To go to the Social Security Administration web site click:

http://www.ssa.gov/

FERS Basic Benefit

The FERS Basic Benefit pays a retirement benefit based on a formula which, in most cases, will be one per cent for each year of creditable service times the average highest three years of Federal pay. In addition to optional retirement benefits, FERS also provides early, deferred, disability and death benefits. If certain requirements are met, a special retirement supplement is paid as an annuity until eligibility for early Social Security benefits begins at age 62 . Additionally, most annuitants' Basic benefit will be adjusted annually by cost-of -living increases, beginning at 62. FERS Basic Benefits are available as early as ages 55-57 (depending on year of birth) with a minimum of ten years of service.

For more information about FERS click here.
http://www.opm.gov/fers_election/ri_90/f_toc.htm
http://www.opm.gov/retire/html/library/fers.html

Employees who are designated as law enforcement officers under the retirement system have special benefits which permit them to retire optionally at a younger age than other employees.

Thrift Savings Plan

The Thrift Savings Plan (TSP) is a tax-deferred retirement savings and investment plan that offers the same type of savings and tax benefits found in 401(k) plans. Participation in TSP provides the opportunity to save for retirement while reducing current income taxes. The Plan also includes a loan program.

All employees covered by FERS are eligible to participate within 12 months of being hired.

Once eligible, the agency makes an automatic contribution of 1 % of pay each pay period to the employee's account, whether or not the employee elects to contribute.

FERS employees also may elect to contribute up to 10% of their own pay (subject to an annual deferral maximum, which is $10,000 in 1999).

If the employee elects to participate, there is a generous agency dollar- for- dollar match on the first 3% of employee contributions and $0.50 for each dollar of the next 2% of pay contributed by the employee.

At present, participants may allocate contributions to three funds: a common stock index fund; a bond index; and a fund invested in Government securities.

Beginning in the year 2001, a small capitalization stock index fund and an international stock index fund will be added to the investment choices.

The TSP account is portable and, on separation from ATF, it may be left in the Plan or withdrawn in a variety of ways, at the participant's discretion.

Click http://www.tsp.gov/ to go to the Thrift Savings Plan web site. Use the calculator to see how fast your retirement savings could grow!

Civil Service Retirement System (CSRS) Publications:
Visit this OPM page for information concerning CSRS retirement.

http://www.opm.gov/retire/html/library/csrs.html

Forms:
U.S. Office of Personnel Management electronic forms.

http://www.opm.gov/forms/index.htm

Contact the Retirement Branch for retirement issues.
Contact the Employee Services Branch for Life Insurance and Health Benefits issues.

HOLIDAY AND VACATION TIME

Federal employees receive paid time off for 10 holidays each year.

In addition, they earn paid vacation time, called "annual leave," according to the length of their federal service.

New employees working full-time earn 13 days of annual leave per year and, after just 3 years, accrue annual leave at the rate of 20 days per year.

Employees with 15 years or more of service earn 26 days annually.

Annual leave may be carried over from year to year, subject to a maximum carry over amount of 240 hours, or 30 days.

When an employee separates, s/he is paid for annual leave in a lump sum that is based on the employee's hourly rate of pay at the time of separation.

PAID SICK LEAVE AND DISABILITY BENEFITS
The agency offers a substantial program of paid sick leave and disability benefits.

For short-term illness or disability, employees use sick leave, which is earned at the rate of four hours per pay period, or 13 days annually.

Sick leave balances are carried over from one year to the next and there is no maximum accrual limit.

Sick leave may be used for the employee's personal illness or visits to medical providers, to care for family members who are ill, or as paternity and maternity leave for the birth or adoption of a child.

If an employee becomes disabled from his/her current position, disability benefits, payable as an annuity, may be available under the retirement system. Eligibility begins with a minimum of 18 months civilian service. The annuity benefits are coordinated with Social Security, if the employee also meets the Social Security disability criteria.

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