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Employees joining BLM should explore opportunities for obtaining life and health insurance benefits offered to the federal work force. Eligibility varies depending on the employee's appointment category. To determine your eligibility contact your servicing human resource office.

If you are enrolled in the Federal Employees Group Life Insurance (FEGLI) program, the amount of your basic insurance is equal to your current annual pay rounded up to the next highest thousand plus $2,000. Thus, if your annual salary is $10,370, you are insured for $13,000. Employees who have basic insurance may be eligible to choose other optional insurance:

• Option A - Standard $10,000
  
• Option B - Additional Equal to 1, 2, 3, 4, or 5 times your basic annual pay
  
• Option C - Family for eligible family members

Contact your servicing human resource office for detailed information about the FEGLI program.

Your life insurance continues at no cost to you, if you are receiving compensation benefits because of disease or injury incurred in the line of work and you are unable to work or if you are in a leave without pay status for 1 year or less.

Health Benefits   [Top of Page]

The Federal Employees Health Benefits (FEHB) program offers you an opportunity to enroll in certain health plans with better rates and better protection than you might be able to acquire individually. If you are eligible and choose to enroll in a health insurance plan, the government pays a portion of the price of the plan you choose. You pay the difference between the government's contribution and the plan's total cost. You cannot be denied coverage because of a pre-existing condition under the FEHB.

Temporary employees who have completed 1 year of current continuous employment may enroll for health benefits coverage. These employees pay both the employee and government share of the premium.

Brochures outlining the coverage for health plans may be obtained from your servicing human resource office.

Federal Flexibile Spending Account Program (FSAFEDS)   [Top of Page]

A Flexible Spending Account (FSA) is a tax-favored program that allows you to set aside pre-tax money from your paycheck to pay for a variety of eligible expenses.

There are two types of FSAs:

Enrollment and program information can be found at www.fsafeds.com/fsafeds.

Federal Long Term Care Insurance Program (FLTCIP)   [Top of Page]

The Federal Long Term Care Insurance Program provides long term care insurance. Long Term Care Insurance provides you reimbursement for costs of care when you are unable to perform at least two Activities of Daily Living for an expected period of at least 90 days, or when you need constant supervision due to a Severe Cognitive Impairment. This federal program will provide reimbursement based on the benefit options and amounts you are approved for. For more information or questions regarding your eligibility, visit www.opm.gov/insure/ltc.

Retirement Benefits   [Top of Page]

There are three retirement plans: Civil Service Retirement System (CSRS); Federal Employees Retirement System (FERS); and CSRS Offset. Retirement benefits are based on age and years of service at the time of retirement. In general, the following information applies regarding these three plans. Contact your servicing human resource office to answer more specific questions.

• CSRS serves permanent federal employees hired before January 1, 1984.
  
• FERS serves permanent federal employees first hired after December 31, 1983.
  
• CSRS Offset is available to permanent federal employees first hired before 1984 who were covered by CSRS, but left federal service for more than one year and were then rehired after 1983. To reenter CSRS, these employees must have had 5 years of CSRS eligible service by January 1, 1987.

Regardless of the retirement system, all federal employees can participate in the Thrift Savings Plan (TSP).

Civil Service Retirement System (CSRS)   [Top of Page]

Under CSRS, you may retire on an immediate annuity upon meeting one of the following conditions:

1. At age 55 after 30 years of service.
   
2. At age 60 after 20 years of service.
   
3. At age 62 after 5 years of civilian service.
   
4. If after 5 years creditable civilian service, regardless of age, you have an accident or illness that leaves you disabled and unable to work.

Disability retirement, under CSRS, is approved by the Office of Personnel Management.

You may also retire under the following circumstances:

1. At any age if separated involuntarily and not for cause after completing 25 years of service.
   
2. At age 50 through 59 if separated involuntarily and not for cause after completing 20 years of service.

In both of these instances your annuity is reduced by 1/6 of 1 % for each month (2 % per year) you are under age 55.

Under certain circumstances an employee who leaves the Federal Government before becoming eligible for an immediate annuity may be eligible for a deferred annuity beginning at age 62.

Federal Employees Retirement System (FERS)   [Top of Page]

FERS is a three-tiered retirement plan consisting of Social Security benefits, the Basic Benefit Plan, and the Thrift Savings Plan. FERS has three categories of retirement benefits: immediate, early, and deferred retirement. Eligibility is determined by your age and number of years of creditable service. In addition, a reduced benefit is offered if you retire at the minimum retirement age with at least 10 years of service. To qualify for FERS disability benefits, you must have at least 18 months of creditable civilian service. Benefits are not reduced for involuntary early retirement. Contact your servicing human resource staff for more information about FERS.

CSRS Offset   [Top of Page]

Under CSRS Offset provisions you are covered by both CSRS and Social Security. When you retire, your CSRS annuity will be computed under the same rules that apply to other CSRS retirees. However, when you become eligible for Social Security benefits, (usually at age 62), your annuity will be reduced, or offset, by the value of the Social Security benefit you earned during your CSRS Offset service. In other words, instead of getting one check from the U.S. Office of Personnel Management (OPM) that reflects all your Federal service, some of the payment will come from the Social Security Administration (SSA) when you become eligible for a Social Security benefit. If you are not eligible for a Social Security benefit, there is no offset in your CSRS annuity.

Thrift Savings Plan   [Top of Page]

The Thrift Savings Plan (TSP) is a retirement savings and investment plan for federal employees. It offers federal civilian employees the same type of savings and tax benefits that many private corporations offer their employees under 401(k) plans. The TSP has two tax advantages: 

1. before-tax contributions and 
   
2. tax-deferred investment earnings. 

With before-tax contributions, the money you contribute is taken out of your pay before federal and, in almost all cases, state income taxes are calculated. 

With tax-deferred investment earnings, you do not have to pay taxes on your TSP account earnings until you receive the money.

FERS employees receive an automatic government contribution equal to 1% of basic pay, and additional matching contributions of up to 4% of basic pay. FERS employees can contribute a total of 14% of their basic pay to the TSP. CSRS and CSRS Offset employees can contribute 9% of their own money. These employees do not receive any government matching funds. The TSP is offered to both CSRS and FERS employees, but participation rules differ for each. For more information talk to your servicing human resource office.

To contribute to the TSP eligible employees must submit Form TSP-1 to their servicing human resource office only during an open season. Two open seasons are held each year: April 11 through June 30 and October 15 through December 31. Information is circulated before each open season to eligible employees. Future payroll contributions can be changed only by submitting TSP-1, Election Form, during a TSP open season. Twelve interfund transfers, one each month of the year, can be made to your TSP account balances that are invested in the five TSP funds. An interfund transfer affects only money already in your account. You can make these changes by calling the Thrift Line at (504) 255-8777 or visiting the TSP web site at www.tsp.gov.