You go ahead and get started. Take a breath here. - I put two spoons of food in my mouth, so hopefully they'll carry me over. - There's a bit of a bin a day. - You find my clicker. Okay, okay. - For those of you who don't know me, my name is Phyllis Wellborn. - I am a benefit specialist, a senior benefit specialist here at headquarters. - We want to do a review and overview of your benefits. - This presentation is good for if you're a brand new federal employee, if you're mid-career, or if you're getting ready to go out the door. - Benefits always applies to you, so you're always thinking about your benefits throughout your career. - Again, as a new employee and as a future retiree, you want to understand your benefits. - When you are coming on board, you're making decisions for maybe you if you're not married, or you and your family for health insurance and life insurance. - Then you're in mid-career, and you're thinking about, "Well, I need to look at that life insurance." - And you know, better I'll talk about TSP. - And then you're getting ready to go out the door. Well, you've got to make good decisions. - We're going to review all of this with you today. - I am going; we're going to give you a lot of information, and I don't expect you to remember it all. - The what I do want you to remember, I'll go through what we're going to talk about today. - Is the federal retirement system credible service civilian and military deposit types of a retirement annuity computation. - Survivor benefits federal benefits designation of beneficiary forms. - Let me put this right here. - Middle death of an employee benefits and their retirement application process. - Also, we're going to be talking...
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Opm sf 3102 fillable Form: What You Should Know
SUMMARY OF THE FEDERAL EMPLOYEE RETIREMENT SYSTEM (FEES) FEES provides retirement benefits to members of the federal civilian workforce who have reached a specified retirement age. Fees help fund the retirement benefits of current beneficiaries. The FEES System encompasses the following programs: Retirement -- The Pension and Thrift Savings Plan (PSP) -- The Thrift Savings Plan -- Benefits paid with Federal Employees' Retirement System (FEES) contributions are based on years of employment. Eligibility criteria -- Each individual must be eligible for retirement benefits in full and is permitted to retire only after reaching age 62. -- A member may be disqualified from benefit eligibility if: -- Is unable to meet an age requirement based on disability related to AIDS; -- Has earned a total disability rating of at least one-half of a standard deviation of two points or more, or has earned both disability and retirement benefits; or -- Currently has an ascertainable impairment that can be anticipated to result in death. -- A member shall be eligible to receive benefits under FEES as of his or her retirement date regardless of past disability, except in case of extreme disability. Retirement -- The pension plan provides for retirement benefits through payments from tax-deferred accounts managed by the Thrift Savings Plan. Benefits are based upon the employee's earnings during the employee's career, with annual retirement benefits of 11,500 over five years provided to eligible employees at the age of 58. Survivor Benefits -- Survivors Compensation (SCP) is an annuity paid out to eligible survivors dependent upon contributions made to FEES prior to separation from military service. SCP eligibility requirements are established under a separate plan, the Federal Employees Compensation Benefits Plan (FCBP). Funding -- Fees are collected to pay the cost of the pension plan. Additional fees, primarily those associated with the Thrift Savings Plan, are collected by the Department of Defense to fund a separate retirement program. -- The maximum retirement age for a member is 62 and for a survivor until age 67. The FEES Retirement and Survivors' Benefits Program pays benefits to eligible beneficiaries who would have met eligibility requirements for FEES benefits at the time of retirement, had FEES benefits been available. Retirement -- The Pension and Thrift Savings Plan (TSP) provides retirement benefits to civilian employees who have reached a specified retirement age.
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