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A rmy B enefits C enter- C ivilian

A rmy B enefits C enter- C ivilian. FERS Overview. Updated 01/08/2014. INTRODUCTION. ABC-C MISSION: We are a top performing, caring team of Civilian Human Resource professionals providing quality benefits and entitlements services to our customers through a

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A rmy B enefits C enter- C ivilian

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  1. ArmyBenefitsCenter-Civilian FERS Overview Updated 01/08/2014

  2. INTRODUCTION ABC-C MISSION: We are a top performing, caring team of Civilian Human Resource professionals providing quality benefits and entitlements services to our customers through a centralized automated contact center. ABC-C SERVICES: Provide advisory services and processes transactions for: Federal Employees Health Benefits (FEHB) Federal Employees’ Group Life Insurance (FEGLI) Thrift Savings Plan (TSP) Retirement (FERS & CSRS) Survivorship (Death Claim Processing) Unemployment Compensation

  3. ABC-C SYSTEMS Employee Benefits Information System (EBIS) – Web Based • Customer-friendly • Available 24 hours a day (with CAC access) • Secure site • Requires use of SSN and PIN • Ability to read at convenience • Ability to print screens of information • Can process benefits transactions without counselor assistance • Ability to print benefits forms • Estimate calculators • ABC-C website: https://www.abc.army.mil

  4. ABC-C SYSTEMS Telephone • Lets you connect with a counselor • Available to those without computer access • Counselors are available 12 hours a day • ABC-C toll-free telephone number is 1-877-276-9287 *Option #3 for National Guard Personnel

  5. PRODUCTION SUMMARY 1 JANUARY – 31 DECEMBER 2013 3 FMD

  6. RETIREMENT PROCESSING TIME 1 JANUARY – 31 DECEMBER 2013 1 1% 335 34% 197 99% 134 100% 642 66% Rcvd More Than 60 Days: 134 Rcvd 31-60 Days: 198 3 2% 144 56% 111 44% 167 98% Total: 977 220 100% Met Did Not Meet Rcvd 16-30 Days: 170 Rcvd 1-15 Days: 255 Rcvd On/After DOR: 220 Goal: Complete retirement package NLT 5 working days prior to DOR.

  7. CONTINUING CHALLENGES • Last minute VERA/VSIP approvals • Incomplete retirement application submissions • Short notice retirement applications • Federal Erroneous Retirement Coverage • Corrections Act (FERCCA) • Aging workforce

  8. ON THE HORIZON • Growing serviced population • Phased Retirements • eBATS (Benefits Automated Tracking System for employees)

  9. ANY QUESTIONS?

  10. RETIREMENT PLANNING TSP DEPOSIT REDEPOSIT FEGLI FEHB FEDVIP LTCI FSA MILITARY DEPOSIT CSRS CSRS OFFSET FERS

  11. Applying Retirement to YOU: Tech hire date: 5 years vested: 10 years: 20 years: 25 years: 30 years: MRA: Age 60: Age 62: 10 OCT 2002 10 OCT 2007 10 OCT 2012 10 OCT 2022 10 OCT 2027 10 OCT 2032 2 JUL 2038 2 JUL 2041 2 JUL 2043 10 OCT 2012 10 OCT 2017 10 OCT 2022 10 OCT 2032 10 OCT 2037 10 OCT 2042 2 JUL 2038 2 JUL 2041 2 JUL 2043

  12. RETIREMENT PLANNING:Early Career – 25 + years to retirement • Contribute to TSP • Enroll in benefits (FEHB, FEGLI, FEDVIP, FSA) • Pay civilian deposit • Pay military deposit • New Employee Orientation briefing - https://www.abc.army.mil/NewEmployee/NewEmployeeOrientation.htm

  13. RETIREMENT PLANNING:Mid Career – 10 - 24 years to retirement • Review level of TSP participation & allocation between the funds • Adjust benefits based on life situation

  14. RETIREMENT PLANNING:Late Career: Less than 10 years prior to retirement: • Adjust TSP contributions & other savings based on results from calculators • Use calculators in EBIS to get a rough estimate of annuity • Determine income needed in retirement using the Federal Ballpark E$timate calculator

  15. RETIREMENT PLANNING:Late Career: Five years to retirement: • Maximize TSP contributions & other savings • Verify eligibility to continue FEHB & FEGLI into retirement • Request a retirement estimate • Request a retirement counseling

  16. RETIREMENT PLANNING LINKS Federal Ballpark E$timate: https://www.opm.gov/retire/tools/calculators/ballpark/BallparkIntro.asp Retirement information & services provided by OPM: http://www.opm.gov/retire/index.asp U.S. Financial Literacy Education Commission website: http://www.mymoney.gov Army Benefits Center–Civilian EBIS: https://www.abc.army.mil

  17. CSRS COMPONENT • If you have civilian service prior to your election of FERS, and • The service was subject to CSRS retirement deductions, or Social Security deductions, but not both, and • The total of these 2 types of service is 5 or more years, then • This period of service is called a CSRS component, and that portion of your retirement annuity, or civilian deposit, etc. will be calculated using CSRS rules (If you have less than 5 years, the service is creditable under FERS rules)

  18. CSRS INTERIM • Employees first hired on/after 01-01-1984 & certain rehires • Reduced CSRS contribution rate of 1.3% • Contribute to Social Security • On 01-01-1987, employees with CSRS Interim coverage changed to: • CSRS Offset if you had at least 5 years of civilian service • FERS if you had less than 5 years of civilian service

  19. Federal Employee Retirement System (FERS) • Federal Employee Retirement System (FERS) • New employees first hired in covered position on 01-01-1987 to 12-31-2012 • Contribute 0.8% of salary to FERS • FERS-Revised Annuity Employees (FERS-RAE) • New employees first hired in covered position on • 01-01-2013 to 12-31-2013 • Contribute 3.1% of salary to FERS • FERS- Further Revised Annuity Employees (FERS-FRAE) • New employees first hired in covered position on/after 1-1-2014 • Contribute 4.4% of salary to FERS

  20. FERS • Contribute to Social Security • New & rehired FERS automatically contribute 3% to TSP • Can contribute up to IRS limit to TSP, receive agency matching of 5% if you contribute at least 5% of your salary • Automatic 1% contribution regardless of your TSP contribution rate • First 3% of your contributions are matched dollar-for-dollar • Next 2% will be matched at 50 cents on the dollar

  21. FERS is a 3-tiered retirement system FERS annuity is the smallestcomponent FERS Annuity TSP willmake up the LARGESTportion of your total retirement Social Security Thrift Savings Plan

  22. RETIREMENT SERVICE COMPUTATION DATE (RSCD) • Used to determine retirement eligibility and to calculate retirement annuity • May not be the same as your Leave SCD (SCD that appears on your SF 50 & LES) • Not all service that is creditable for leave is creditable for retirement

  23. RETIREMENT SERVICE COMPUTATION DATE (RSCD) • Examples of service that is creditable for leave but not for retirement: • Non-Appropriated Fund (NAF) service on a temporary appointment • For retired military, campaign or combat service if retired military pay is not being waived • Military service for which deposit has not been paid • Non Deduction Service (temporary technician) performed on/after 1-1-89

  24. CREDITABLE SERVICE FOR RETIREMENT • Examples of civilian service that is creditable for retirement: • Indefinite or Permanent Appointments • Temporary technician service performed prior to 1-1-1989 with the deposit paid

  25. CREDITABLE SERVICE FOR RETIREMENT • Examples of military service that is creditable for retirement: • Military service for which the deposit has been paid • Military service performed prior to Federal employment • Title 10 Active Duty (US Army, US Air Force, US Navy, US Marine Corps) • After being hired to Federal employment • Title 10 • Title 32 (only if USERRA rules apply)

  26. CIVILIAN DEPOSIT/ REDEPOSIT

  27. WHAT IS DEPOSIT SERVICE? Any period of potentially creditable service during which retirement deductions are not withheld: Generally, non-career time such as temporary or indefinite service Also known as non-deduction service Service that is now considered Federal employment, due to a change in the law that allows credit for retirement annuity computation purposes (Peace Corps, VISTA) 27

  28. WHAT IS DEPOSIT SERVICE? Amount of deposit: 1.3% of earnings + interest (3% of stipend for Peace Corps and VISTA) Interest will vary by the date the service was performed FERS with CSRS component, CSRS rules apply FERS with no CSRS component, FERS rules apply 28

  29. Deposit Made Deposit Not Made Credit for eligibility (RSCD) and Annuity Computation No credit for eligibility (RSCD) and Annuity Computation DEPOSIT SERVICE Non-Deduction Service prior to 01-01-1989

  30. DEPOSIT NOT ALLOWED NO CREDIT for Eligibility or Annuity Computation DEPOSIT SERVICE Non-Deduction Service on or after 01-01-1989

  31. WHAT IS REDEPOSIT SERVICE? A sum of money paid into the Fund by an employee or survivor to cover a period of service during which deductions were withheld but later refunded. • Redeposit = Amount of refund plus interest • (Interest accrues from date of refund check) FERS REDEPOSIT IS NOW ALLOWED! • Note: • FERS with CSRS component, CSRS rules apply • FERS with no CSRS component, FERS rules apply America’s Army: The Strength of the Nation

  32. Redeposit Made Redeposit Not Made Credit for eligibility (RSCD) and Annuity Computation Credit for eligibility (RSCD) and No Credit in Annuity Computation REFUNDED SERVICE Refunded FERS Service

  33. INTEREST RATES

  34. HOW TO PAY A CIVILIANDEPOSIT OR REDEPOSIT • Complete front page of SF 3108, Application to Make Deposit or Redeposit (FERS), and send to the ABC-C. • ABC-C will calculate an estimated deposit/redeposit amount and mail to OPM. • OPM will notify you of final deposit/redeposit amount and payment procedures. • Ensure “Payment In Full” notice is filed in eOPF. • More information is available on the ABC-C website at https://www.abc.army.mil/retirements/FERSDepositService.htm

  35. MILITARY DEPOSIT

  36. It's Free!! PRE 01-01-1957 MILITARY SERVICE No deposit required for creditable military service performed prior to 01-01-1957

  37. Based on Non – Combat Disability or Length of Service Based on Combat Disability or Chapter 1223, Title 10 (Reserves) No Credit unless Military Retired Pay is waived & deposit is paid Must Pay to receive credit for Eligibility (RSCD) & Annuity Computation CREDIT FOR POST-56 MILITARY SERVICE IN RECEIPT OF MILITARY RETIRED PAY

  38. Must Pay to receive credit for Eligibility (RSCD) & Annuity Computation POST-56 MILITARY SERVICE Military Service on/after 01-01-1957 FERS is a PAY TO PLAY SYSTEM Amount of Deposit: 3% of basic pay earned + interest (2 years interest free) (Interest will vary)

  39. Deposit Made Deposit Not Made Credit for eligibility (RSCD) and Annuity Computation No credit for eligibility (RSCD) and Annuity Computation USERRA SERVICE Title 10/Title 32 Service That Interrupts Civilian Service

  40. USERRA SERVICE: Amount of Deposit: The deposit is the Lesserof the two: 3% of basic pay earned + interest OR what your FERS / FERS-RAE / FERS-FRAE contributions would have been + interest New Calculator at DFAS for estimated earnings: http://www.dfas.mil/civilianemployees/militaryservice/militaryservicedeposits/estimator.html

  41. USERRA SERVICE: Amount of Deposit: • Interest: • 1st two years after being returned to duty are interest free • Interest accrues during the 3rd year and every year thereafter • If total deposit is paid before end of 3rd year – no interest is due

  42. INTEREST RATES

  43. HOW TO PAY AMILITARY DEPOSIT • Complete Form RI 20-97, Estimated Earnings During Military Service • Send to the appropriate branch of service (addresses are on the ABC-C website) • Include copies of all of your DD 214s • Make sure dates of USERRA service do not include periods of paid technician leave (per BAL 03-105)

  44. HOW TO PAY AMILITARY DEPOSIT • Upon receipt of estimated earnings, forward to ABC-C (or your HRO for USERRA deposits) your: • DD 214; • SF 3108 page 1; and • SF 3108A • ABC-C (or HRO) will calculate an estimate of the deposit owed and forward to DFAS thru a Remedy ticket • DFAS has a 30 business day suspense to respond to remedy ticket

  45. HOW TO PAY AMILITARY DEPOSIT (CONT) • DFAS will set up the account for balance owed on one period of service at a time and may advise you of payment options • Payment for service can be via check and/or payroll deductions • NEW!: Multiple periods can be paid at one time • Ensure “Payment In Full” notice is filed in OPF • Military deposit must be paid in full PRIOR to separation

  46. RETIREMENT REQUIREMENTS

  47. GENERAL ELIGIBILITY REQUIREMENTS • Have at least 5 years of creditable civilianservice with the Federal government • Meet Minimum Retirement Age (MRA) • Must separate from a position subject to FERS coverage

  48. MINIMUM RETIREMENT AGE (MRA) IF YEAR OF THE MINIMUM BIRTH IS... RETIREMENT AGE IS... BEFORE 1948 55 1948 55 & 2 MONTHS 1949 55 & 4 MONTHS 1950 55 & 6 MONTHS 1951 55 & 8 MONTHS 1952 55 & 10 MONTHS 1953-1964 56 1965 56 & 2 MONTHS 1966 56 & 4 MONTHS 1967 56 & 6 MONTHS 1968 56 & 8 MONTHS 1969 56 & 10 MONTHS 1970 & AFTER 57

  49. TYPES OF RETIREMENTS Optional Retirement Discontinued Service Retirement (DSR) MRA + 10 Retirement Deferred Retirement Disability Retirement Normal vs. Public Law 97-253

  50. OPTIONAL RETIREMENT • Minimum Retirement Age (MRA) with 30 years service • 60 years of age with 20years of service • 62 years of age with 5years of service • MRA with at least 10years of service • Annuity accrues the first day of following month of your retirement.

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