Session 16 Benefits Update Panel Sonny Barber, USDA/ARS/AFM Becky Priebe, Washington State University Celia Rainville, University of Vermont Mary Fran San Soucie, Montana State University

National Defense Authorization Act Credit for unused sick leave under FERS Authority to deposit refunds under FERS Computation of CSRS annuities based on part-time service for Fiscal Year 2010 (Public Law )

Sick Leave Policy Each University or institution has a separate sick leave policy. Some are unlimited as to the maximum amount, some up to six months, etc. If you do not currently have a sick leave policy on file with Sonny Barber in OPM then you cannot request to file one at this time. You had to have had one on file as of January 31, Updates can be submitted. Contact Sonny Barber to request a copy of the policy for your institution.

UVM Extension just updated their policy last year to align with the University’s current policy. This was due to the fact that after researching the guidelines for this policy, we found out that what we had on file with OPM, no longer aligned with the University’s policy.

Sick Leave Unused sick leave is not transferable to another Cooperative Extension Service Agency

Credit for Unused Sick Leave Under FERS FERS employees separating with title to an immediate annuity or who die leaving an eligible survivor will receive credit for unused sick leave. Effective October 28, % of unused sick leave Effective January 1, % of unused sick leave

Credit for Unused Sick Leave Under FERS FERS retiree with a CSRS component will receive 100% of CSRS frozen sick leave 50% of remainder under FERS

Dependent insurance March 23, 2010, Affordable Care Act Became Law Biggest change for employees with federal benefits is that they can keep children as dependents until age 26

Redeposit Refunds FERS Provisions of section 1904 of the NDAA only apply to employees covered under FERS on or after October 28, 2009, and only affect annuity benefits based on a separation from FERS coverage on or after October 28, 2009

Redeposit Refunds FERS Employees covered by FERS on or after October 28, 2009, may repay (or redeposit) any FERS deductions previously refunded to them. They may also redeposit any CSRS deductions previously refunded to them that covered CSRS service that is credited under FERS rules

Redeposit Refunds FERS Payment of the FERS redeposit for FERS service covered by a refund of FERS deductions and CSRS service (that is credited under FERS rules) covered by a refund of CSRS deductions allows the refunded service to be creditable for determining an employee’s retirement eligibility and for computing the amount of an employee’s annuity

Redeposit Refunds FERS Payment not made of the FERS redeposit for FERS service covered by a refund of FERS deductions and CSRS service (that is credited under FERS rules) covered by a refund of CSRS deductions only allows the refunded service to be creditable for determining an employee’s retirement eligibility but it is not creditable for computing the amount of an employee’s annuity

Redeposit Refunds FERS Employees wanting to make a FERS redeposit may complete the current FERS Application to Make a Deposit, SF Employees must indicate on the application that the period of service was refunded and send the completed application through their agency for certification.

Redeposit Refunds FERS Employees wanting to make a FERS redeposit for refunded service and a FERS deposit for non-covered service will be assigned two service credit account numbers and will receive two separate statements based on each service credit account calculation. The two accounts will be set up based on one application – two applications are not necessary. Payments must be submitted for each account separately.

Roth TSP Contribution Effective the second quarter of 2012 a Roth (405K) will become part of the TSP Plan. Allows participants to contribute on an after-tax basis to their TSP accounts and Receive tax-free earnings when they withdraw the funds (assuming certain criteria are met).

Roth TSP Contribution When you withdraw your Roth contributions and associated earnings in retirement you will pay no Federal income taxes on them, as long as you are: at least age 59 ½ and have been making Roth contributions for a minimum of 5 years. TSP FACT SHEET 06-5 (4/2011)

Roth TSP Contribution Elective Deferral Limit $16,500 combined regular and Roth contributions $5,500 in combined regular and Roth catch-up contributions, if 50 or older For a combined total of up to $22,000

Roth TSP Contribution Participating Agencies are responsible for: Notifying participants Taking deductions Submitting to TSP Details in TSP Bulletin 10-13

Federal Long Term Care Insurance Program Provides long term care insurance for its enrollees, who are Federal and U.S. Postal Service Employees Annuitants Active and retired members of the uniformed services, Their qualified relatives

Federal Long Term Care Insurance Program Eligibility— All CES employees with Federal benefits Agency does not have to participate in Federal Employees Health Benefits Program Open Season from April 4 to June 24, 2011

Federal Long Term Care Insurance Program First abbreviated underwriting opportunity for non- enrolled applicants since 2002 Fewer health questions FLTCIP web site –

Federal Long Term Care Insurance Program Agency is responsible for notifying employees. Agency not required to take deductions.

Worker’s Compensation Directly impacts Smith-Lever Funds The amount “used” by claimant is taken from federal allocation If someone is re-injured from original federal WC injury, that re-opens the original case.

Resources Video Library at the OPM Retirement Readiness NOW Tips CES HR List Serve

Resources Sonny Barber, USDA/ARS/AFM Becky Priebe, Washington State University Celia Rainville, University of Vermont Mary Fran San Soucie, Montana State University Regional Contacts