This chapter explains the individual data elements in Your NASA Employee Benefits Statement. Whenever you request your statement, you will receive 9 pages of your personal benefits. The information in this confidential summary is unique to you and is intended to give you a concise personal list of those benefits that vary according to your years of service, salary, and personal elections -- such as health and life insurance and Thrift Savings Plan participation. When used in conjunction with your benefits handbook, the statement should serve as a valuable tool for use in your healthcare, financial, retirement, and personal planning.
Wow! What do I do with all of this information? ...its too much!
Perhaps when you first look at your benefits statement, you may be overwhelmed by the amount of information -- over 200 items at last count! If you will, think of it in terms of the Sunday newspaper -- sometimes you want to read it from cover to cover; sometimes you only want to read the comics. The important things to remember are: (1) that the information is available and (2) that sooner or later you will need the information.
The purpose for this chapter is to explain each of these 200+ items in your statement. Of course, if you need help, your Benefits Counselor is available to assist you.
Bottom-line answer -- you need the information to make good, informed decisions about your benefits. Unlike in years past, your benefits and retirement options are continually changing. You have a greater range of options, more flexibility, and in some cases greater limitations. Your decisions about these benefits may have extensive, significant impact on your financial and personal well-being. Over many years of dealing with employees, retirees, and their beneficiaries, your Benefits Counselor has gained a wealth of experience that points to an overwhelming fact...
The more you know about your benefits, the better you can use them.
A word of caution...
This benefits statement is provided as an "estimate" of your benefits. The calculations are based upon current Federal regulations, your current employee status, current salary tables, and information that is in your employee record. As these factors change, your benefits and their expected values will change. Consequently, this statement is not a guarantee that any benefit will continue in effect throughout your career. To protect both parties, you should not use it as a basis or guarantee for determining "actual" future benefits for use in any type of legal settlement. |
Requesting Your Employee Benefits Statement
You may request Your NASA Employee Benefits Statement at any time online through the NEBS website. Although the data is updated every two weeks, it will usually not change significantly during a given year. Consequently, you may wish to limit your requests to those times at which you believe a significant change has occurred.
If You Need Additional Assistance
If you need additional assistance or are planning a significant career move such as retirement or resignation, you are encouraged to contact your Benefits Counselor for a detailed review of your benefits.
How to Read Your Benefits Statement
- Your statement is divided by category of data (e.g. life insurance, health insurance, etc.) or by scenario (e.g. If you retire, if you resign etc.).
- The left hand column on the statement contains data or calculations that are unique to you. The right hand column of the statement is the " label" for that data.
- For an explanation of the data listed in your statement you may refer to the following table of explanations. Simply, align the data elements on your personal statement with the data boxes listed in this table. To help you quickly locate a data element, your statement and this guide are divided into sections: A though P.
- The information contained in your statement is extracted from the Federal Personnel and Payroll System (FPPS) and is current as of the date listed in the statement.
- For a more in depth explanation of each of the topics you may also refer to the appropriate chapter in your NASA Employee Benefits Handbook.
Section A. Information About You
| As of Date |
The latest date that the information used to produce the statement was updated. Usually, this information is updated every two weeks. |
| Run Date |
The date your statement was extracted from the system. Information is updated every two weeks. |
| Social Security Number |
Your social security number. |
| Birth date |
Your birth date. |
| Retirement System |
The retirement system you are covered under -- either the old Civil Service Retirement System (CSRS); the newer Federal Employees' Retirement System (FERS); CSRS Offset if you were in the old retirement system and had a break in service, or N/A if you are not eligible to participate in a retirement program. |
| Position Type |
The type of position you hold -- permanent or temporary, full-time or part-time, etc. |
| Work Schedule |
The normal number of hours that you are expected to work in a week: Full-time = 40 hours per week Monday through Friday; Part-time = 16-32 hours per week on specific days; or intermittent = 0 to 40 hours per week. |
Section B. Your Service Dates
| Last Date You Entered on Duty at This Center |
The date you last began working for your current Center as a federal civil servant. |
Federal Service Comp Date for Leave Computation
(FSCD-Leave) |
The date showing your total creditable Federal civil service that is used for determining the rate at which you accrue annual leave. This date is adjusted for breaks in service, extensive use of leave without pay (LWOP), and creditable military service. |
Federal Service Comp Date for Retirement
(FSCD-Retirement) |
The date showing your total creditable Federal civil service that is used for determining your retirement annuity and retirement eligibility. This date is adjusted for breaks in service, extensive use of leave without pay (LWOP), retired military service, and creditable military service. Note: If you are FERS and have military service, but have not made a deposit for military service, your FSCD for retirement purposes will be later than your FSCD for leave purposes. |
| Thrift Savings Plan (TSP) 1% Gov't Contribution Eligibility |
"Eligible" or the date that you will become eligible to receive Government contributions to the Thrift Savings Plan (TSP). The date is normally the beginning of the second TSP Open Season after your initial appointment or date of re-employment. |
Federal Service Comp Date for TSP Vesting for
(Government 1% Contribution) |
(FERS only) The date showing your total creditable Federal civil service that is used for determining your TSP vesting. Vesting means that you have met the service requirements that entitle you to Agency Automatic (1%) Contributions and their earnings when you leave Federal service. Most FERS employees become vested in their Agency Automatic (1%) Contributions after completing 3 years of Federal civilian service. |
| Retired Military |
Indicates that you have or have not retired from active military service. |
| Creditable Military Service for Leave |
The amount of creditable military service time that is used to determine the rate at which you accrue annual leave. |
| Creditable Military Service for Retirement |
The amount of creditable military service time that is used to determine the amount of total Federal service used in computing your retirement annuity. Military service time for which you receive a retirement annuity is not creditable for civil service retirement unless you waive your military retired pay. If you are FERS and have not made a military deposit -- you do not receive credit for military service for retirement annuity or eligibility purposes. |
| Military Service Deposit
(CSRS -- may be required for no reduction in annuity;
FERS -- required for retirement eligibility and annuity computation purposes ) |
CSRS employees are required to pay an amount equivalent to 7% of their total active military pay (for service after 1956) into the Civil Service Retirement System in order to prevent a reduction in their annuity at age 62 --if they are eligible for Social Security. If you are a CSRS employee hired after 9/30/82 you must pay a deposit to receive credit for military service toward retirement. FERS employees must pay an amount equal to 3% of their total active military pay (for service after 1956) to receive credit for military service toward retirement. If you are FERS and had more than 5 years under CSRS, you are covered by CSRS military deposit rules. |
Section C. Your Pay
(Includes Locality and Special Rate if Applicable)
| Pay Plan |
Pay plan/tables used to determine your rate of pay: General Schedule (GS); GM (old Merit Pay system); Wage Grade (WG); or Senior Executive Service (SES) |
| Pay Grade/Level |
Your current pay grade. Grades at NASA typically range from GS-1 to GS-15. Senior Executive Service (SES) are paid according to pay levels -- typically ES-1 through ES-6. Your grade or pay level is based upon the level of duties that you perform. |
| Pay Step |
Your pay step. For each pay grade there are 10 pay steps, numbered 1 through 10. Each pay step within a pay grade is an equal amount. Pay steps occur based upon the length of time you are in a pay grade and performing at a satisfactory level. Steps 1 through 4 occur at one year intervals; steps 5 through 7 occur at two year intervals; steps 8 through 10 occur at three year intervals. SES pay levels occur at management's discretion. |
| Hourly Rate |
Your hourly rate of pay. |
| Gross Biweekly Salary |
Your biweekly gross pay amount (80 times your hourly rate). |
| Gross Annual Salary |
Your current gross annual salary including locality and applicable special rates. |
| Next Within Grade Increase Due Date |
The date when you will begin being paid at the next higher pay step. |
| Estimated Minimum Gross Salary w/Next Within Grade Increase |
The estimated amount of pay you will receive with your next within grade increase. |
| Current Maximum Salary in Your Current Grade (Step 10) |
The current amount of the highest pay step within your current grade. If you remain in your current grade the required amount of time to reach step 10, you will earn this amount plus any cost of living and locality increases. |
| Locality Pay Rate |
The percentage of salary that you receive in addition to your basic pay due to the locality you work in. This rate is set by government-wide regulation and is determined by the cost of labor (not the cost of living) in a geographic area. |
| Annual Locality Pay (included in the Annual Salary) |
The amount of salary that you receive each year in addition to your basic pay due to the locality you work in. This rate is set by government-wide regulation and is determined by the cost of labor (not the cost of living) in a geographic area. |
Section D. Your Life Insurance Coverage
| Non-Accidental Death - Total Self Coverage |
The total amount of your life insurance coverage provided through NASA. Amount includes coverage under the Federal Employees' Group Life Insurance (FEGLI) and/or NASA Employees Benefit Association (NEBA) insurance. |
Accidental Death - Total Self Coverage
(not including Travel Insurance) |
The total amount of your life insurance coverage provided through NASA if your death is the result of an accident. The amount includes coverage under the Federal Employees' Group Life Insurance (FEGLI) and/or NASA Employees Benefit Association (NEBA) insurance. |
FEGLI (Federal Employees' Group Life Insurance)
|
| FEGLI Basic - Federal Employees' Group Life Insurance |
Your basic life insurance coverage amount under FEGLI. Amount equals your basic rate of pay rounded up to the next $1000, plus $2000. You receive double the face-amount up through age 36, decreasing by 10% per year through age 45. |
| FEGLI Standard Optional |
Option A. Your optional life insurance coverage under FEGLI. You receive $10,000 coverage. |
| FEGLI Additional Optional |
Option B. Your additional optional life insurance coverage. You can elect additional coverage amounts of one, two, three, four or five times the amount of your basic pay. |
| FEGLI Spouse (Family Coverage) |
Option C. Your coverage amount if you elected family coverage. You can elect additional coverage amounts of $5,000, $10,000, $15,000, $20,000, or $25,000 spouse coverage. |
| FEGLI Child (Family Coverage) |
Option C. Your coverage amount if you elected family coverage. You can elect additional coverage for each eligible dependent child in the amounts of $2,500, $5,000, $7,500, $10,000, or $12,500. |
FEGLI Accidental Death
(includes FEGLI Basic, Accidental Death Benefit, double Standard Optional, and Additional Optional) |
Accidental death and dismemberment coverage equals twice your basic coverage amount not including the extra benefit for age. |
| Amount NASA Pays for Your Annual Premium |
The amount the government pays for your FEGLI life insurance coverage each year. |
| Your Annual Premium |
The amount you pay for your FEGLI in one year. |
NEBA (NASA Employee Benefits Association) Insurance
|
| NEBA Life Insurance Deduction Per Pay Period |
Your biweekly deduction taken for NEBA coverage. This amount is show on your LES in the Association Dues block. |
| NEBA Basic - NASA Employee Benefits Association |
Your basic life insurance coverage amount under NEBA. Amount is based on your annual earnings. The maximum amount is $100,000. |
| NEBA Life - Optional Amount |
You choose the amount of additional insurance you want in increments of ½ your salary with a maximum of 8 times your salary or two million; whichever comes first. |
NEBA Accidental Death
(includes Double NEBA Basic + Optional Amount) |
Accidental death and dismemberment coverage doubles the amount of life insurance if your death is by accidental means. This provision is notavailable with the Optional Life Insurance Plan and does not apply to dependent coverage. |
| NEBA Life - Spouse |
Life insurance available for your spouse for an additional premium if you enroll in the basic life insurance. The amount of coverage ranges from $15,000 to $50,000 depending on your salary. |
| NEBA Life – Child |
If you are covered under NEBA basic, your dependent children can be covered for $10,000 up to age 23. |
Section E. Your Health Insurance
| Health Insurance Plan |
The title of your current health care plan. You may choose another plan (1) during the annual Health Benefits Open Season held mid-November through mid-December each year or (2) under certain other conditions when your family circumstances have changed. See your Employee Benefits Counselor or your NASA Employee Benefits Handbook for details. |
| Health Insurance Plan Code |
The three-digit code used to identify your current health care plan. The number is important when completing claims forms. |
| Biweekly Premium |
The amount you pay for your health benefits each pay period. |
| Your Annual Premium (26 pay periods) |
The amount you pay for your health benefits in one year. |
| Amount NASA Pays for Your Annual Premium |
The amount the government pays for your health benefits each year. |
| Bi-Weekly deduction for Health Care Flexible Spending Account |
The amount you pay into your Flexible Spending Account each pay period. |
Section F. Your Leave
| Hours of Annual Leave You Earn Per Pay Period |
The rate at which you earn annual leave each pay period. If you have less than three years of service you earn 4 hours per pay period; 3 to 15 years of service you earn 6 hours per pay period; over 15 years of service you earn 8 hours per pay period. |
| Hours of Sick Leave You Earn Per Pay Period |
Full-time employees earn 4 hours per pay period. Sick leave for part-time employees is pro-rated. Intermittent employees do not earn sick leave. |
| Hours of Accrued Annual Leave |
Amount of hours of annual leave you have accumulated. You may carry over up to 240 hours per year plus any restored annual leave. |
| Restored Annual Leave |
Annual leave that has been restored for your use. You would normally have forfeited this leave if not for circumstances created by NASA and beyond your control (i.e. exigency of the government business). |
| Advanced Annual Leave |
Annual leave "advanced" to you at the beginning of each leave year less your "accrued " or earned annual leave. |
| Annual Leave Value (Paid if you separate today) |
The dollar value of your earned annual leave. The amount is equal to your annual leave hours multiplied by your hourly wage. When you separate your unused annual leave is refunded to you. |
| Hours of Accrued Sick Leave |
The total number of hours of earned sick leave. You may accrue sick leave hours indefinitely. |
| Sick Leave Hours Creditable for Retirement? |
For CSRS, most sick leave hours are creditable toward additional retirement annuity. FERS employees' sick leave is not creditable toward retirement. |
| Maximum Advanced Sick Leave Hours Available (If Approved) |
You may be advanced up to a maximum of 240 hours of your sick leave if approved by the Director of Human Resources. |
| Federal Holidays per Year (if Full Time) |
The number of Federal holidays you receive each year. Part-time employees do not receive holidays unless the holiday falls within their regularly scheduled tour of duty. |
Military Leave
(For National Guard and Reserves) |
If you are a member of the National Guard or Reserves and are on military orders you may receive time off to participate in training or deployment. Usually for the first 15 days you can receive both military pay and your civil service pay. |
Section G. Date & Age You Are Eligible to Retire With an Immediate Annuity
Optional Unreduced Retirement
("Regular Retirement") |
The date and age when you will meet the requirements for optional retirement. For CSRS--age 55; For FERS -- minimum retirement age (55-57); plus 30 years service; age 60 with 20 years service; or age 62 with 5 years service. Requires 5 years civilian service. |
Optional Reduced Retirement
(FERS only) |
Applies to FERS only. The date and age when you will meet the requirements to voluntarily retire with FERS optional retirement -- with a reduced annuity. The minimum retirement age is between ages 55-57 depending upon your birth year. Requires 10 years service of which at least 5 years were civilian service. Annuity is reduced 5% for each year under age 62. |
Voluntary Early Retirement
(If Agency has "early out" authority ) |
The date and age when you will meet the requirement for voluntary early retirement if Agency has "early out" authority. The requirement for CSRS and FERS employees is 25 years service at any age or age 50 and 20 years service -- of which at least 5 years were civilian service. For CSRS -- annuity is reduced 2% for each year you are under age 55. For FERS -- annuity is not reduced. |
Discontinued Service Retirement
(Job Abolishment) |
The date and age when you will meet the requirement for discontinued service retirement, if you are involuntarily separated (not for cause) your position is abolished. The requirement for CSRS and FERS employees is 25 years service at any age or age 50 and 20 years service of which at least 5 years were civilian service. For CSRS -- annuity is reduced 2% for each year you are under age 55. For FERS -- annuity is not reduced. |
| Disability Retirement |
The date you met/meet the service requirement for disability retirement. CSRS requires 5 years civilian service. FERS requires 18 months. |
| Retirement Redeposit/Deposit Due? |
If you are a CSRS employee or you transferred to FERS and you had previously withdrawn your CSRS retirement funds you owe a redeposit for the refunded service. The amount owed is the amount withdrawn plus interest. If refunded prior to 10-1-90, your annuity is actuarially reduced if redeposit is not paid. If refunded after 10-1-90 you must pay redeposit for credit in your annuity. FERS withdrawals may not be redeposited.
A period of service not covered by retirement deductions is called deposit service. If service was performed before 10/01/82 your annuity is actuarially reduced if deposit is not paid. If service was performed after 10/01/82 you must pay the deposit for credit in your annuity. FERS employees must pay a deposit for credit in your annuity. For FERS any non-deduction service performed after 1988 is not creditable. |
Section H. Your Retirement -- Estimated Basic, Immediate Annuity
- These basic annuity amounts will be in addition to your TSP annuity and FERS Supplemental annuity or Social Security Benefit.
- Calculations are in today's dollars, include scheduled step increases and accrued sick leave, but do not include future cost of living or locality pay adjustments, or grade increases.
- "Immediate" means you can begin drawing an annuity as soon as you retire -- as opposed to "deferred" which means you can only draw an annuity at a future date -- but not immediately when you separate.
|
Without Survivorship Elected
Optional Unreduced Retirement
( "Regular Retirement" ) |
Your estimated monthly and yearly annuity on the date you meet the requirements for optional retirement. Includes scheduled within grade increases in your current grade. Does not include possible promotions, annual cost of living or locality increases that you may receive in the future. Age and service requirements: Age 55 (for FERS the age varies from 55-57) with 30 years of service; age 60 with 20 years of service; or age 62 with 5 years of service. |
| Optional Unreduced With Survivorship (User-specific date) |
If you elect the survivor annuity option, your annuity will be reduced. The amount listed in your statement is the estimated monthly and yearly annuity on the date you selected. Includes scheduled within grade increases in your current grade. Does not include possible annual cost of living or locality increases that you may receive in the future. |
| Optional Reduced With Survivorship (FERS Only) |
If you elect the survivor annuity option, your annuity will be reduced. The amount listed in your statement is the estimated monthly and yearly annuity on the first date you meet the requirements for optional reduced retirement. Includes scheduled within grade increases in your current grade. Does not include possible annual cost of living or locality increases that you may receive in the future. |
| Optional Unreduced Retirement (+1 Year) |
Your estimated monthly and yearly annuity one year from the date you meet the requirements for optional retirement, or one year from today's date if already eligible. Includes scheduled within grade increases in your current grade. Does not include possible annual cost of living or locality increases that you may receive in the future. |
Optional Reduced Retirement
(FERS only) |
Your estimated monthly and yearly annuity on the date you meet the requirements for FERS optional reduced retirement. You may retire at your minimum retirement age (between 55-57 based on your year of birth) if you have at least 10 years of service (of which 5 years must be civilian service.) Your optional annuity is reduced 5% for each year under age 62. Includes scheduled within grade increases in your current grade. Does not include possible promotions, annual cost of living or locality increases that you may receive in the future. |
Voluntary Early Retirement
(If Agency has "early out" authority) |
Your estimated monthly and yearly annuity on the date you meet the requirements for voluntary early retirement. The agency must have an existing authority from OPM that allows you to volunteer to retire early. Age and service requirements: Age 50 with 20 years of service or any age with at least 25 years of service. |
Discontinued Service Retirement
(Job Abolishment) |
Your monthly and yearly annuity on the date you meet the requirements for discontinued service retirement. This retirement is considered involuntary and occurs as the result of a reduction in force (RIF) or job abolishment. Age and service requirements: Age 50 with 20 years of service or any age with at least 25 years of service. |
Disability Retirement
(For FERS employees, this amount will be reduced by your Social Security disability benefit) |
The monthly and yearly annuity you would receive beginning in year 2 -- if you became disabled. If you are a FERS employee, you would receive this amount after the first year and until you become age 62. At 62, your annuity is recomputed as a non-disability annuity. For all employees, this amount is reduced by the amount of any Social Security disability benefit that you receive. In the first year of disability you will receive a slightly higher amount. |
Your Estimated Basic, Immediate Annuity
With Maximum Survivorship Elected |
Optional Unreduced Retirement
(with maximum survivorship elected) |
If you elect the survivor annuity option, your annuity will be reduced. The amount listed in your statement is the estimated monthly and yearly annuity on the first date you meet the requirements for optional retirement -- if you have elected this option. Includes scheduled within grade increases in your current grade. Does not include possible annual cost of living or locality increases that you may receive in the future. |
Early or Discontinued Retirement
(with maximum survivorship elected) |
If you elect the survivor annuity option, your annuity will be reduced. The amount listed in your statement is the estimated monthly and yearly annuity on the first date you meet the requirements for early or discontinued service retirement. -- if you have elected this option. Includes scheduled within grade increases in your current grade. Does not include possible annual cost of living or locality increases that you may receive in the future. |
| Optional Unreduced Retirement-Survivor Annuity |
The amount of annuity your survivor will receive if you retire optionally with an unreduced annuity on the date shown above, and elect a maximum survivor annuity, and then die. |
| Early or Discontinued Retirement-Survivor Annuity |
The amount of annuity your survivor will receive if you retire on an Early or Discontinued Service retirement on the date shown above, if you elected the maximum survivor annuity, and then die. |
| Amount You Contribute to Your Annuity Annually |
The dollar amount that is deducted from your basic pay annually for your basic retirement annuity. For CSRS -- an amount equal to 7.4% of your salary. For FERS -- an amount equal to 1.2% of your salary. |
| Amount Government Contributes for Your Annuity Annually |
The dollar amount that the Government contributes annually for your basic retirement annuity. For CSRS -- an amount equal to 8.51% of your salary. For FERS -- an amount equal to 10.7% of your salary. |
Eligible for FERS Supplemental Annuity at Minimum Retirement Age (MRA)
Through Age 62? |
To receive a FERS supplemental annuity you must have reached your minimum retirement age (between ages 55-57) and have 30 years service or age 60 with 20 years service. Your retirement must be before age 62 and not a deferred or disability retirement. If you retire on a discontinued service or voluntary early retirement (age 50 with 20 years or any age with 25 years), you will receive the supplement when you attain your minimum retirement age. |
Amount of FERS Supplemental Annuity
if under 62 |
The FERS supplemental annuity is approximately the amount of your Social Security benefit you will have earned based on your FERS service. The supplement stops at age 62 when your entitlement to a Social Security benefit begins. |
| Eligible for "Lump Sum" Alternate Form of Annuity (AFA)? |
An option you may choose if you have a life-threatening affliction; you are expected to live less than two years; and are eligible for non-disability retirement. You receive a one time cash payment of 100% of your retirement contributions and accept an actuarially reduced annuity. |
Section I. Your Social Security and Medicare
| Are You Eligible for Social Security? |
If you are a FERS, CSRS, or CSRS Offset employee, you will be eligible for retirement benefits if you have 40 Social Security credits (10 years work). |
| Earning Social Security Credits through NASA employment? |
FERS and CSRS Offset employees earn Social Security credits through their Federal employment. |
| Are You Subject to Government Pension Offset (GPO)? |
If you are receiving CSRS retirement, your Social Security spouse's benefit will be reduced by two-thirds of the amount of your government pension. If you transferred from CSRS to FERS and have 5 years under FERS, you are not subject to the GPO; if you have less than 5 years under FERS, you are subject to the GPO. |
| Are You Subject to Windfall Elimination Provision (WEP)? |
If you are receiving a CSRS or CSRS Offset retirement, your Social Security benefit formula is modified, giving you a lower Social Security benefit. |
| VERY IMPORTANT NOTE!
In most cases, if you are eligible for a Social Security benefit that you, yourself have earned (e.g. not your spouse's) even if you are a CSRS retiree, you will receive a Social Security benefit. Although your benefit will be reduced by the Windfall Elimination Provision, monthly social security benefits of over $200 are not uncommon for CSRS retirees affected by this provision. Some agencies and even Social Security representatives mistakenly tell CSRS retirees that they are not eligible. |
| Eligibility Date For Social Security (If You Have 40 Credits and are Age 62) |
You become eligible for Social Security retirement benefits at age 62. If you retire at 62, your benefit will be reduced permanently. Starting in the year 2000, the age at which full benefits are payable increased to 67 if you were born in 1938 or later. |
| Are You Eligible for a FERS Annuity Supplement in Lieu of Social Security Until Age 62? |
You are eligible if you retire at your minimum retirement age (55-57) with 30 years service or age 60 with 20 years service. If you retire under an "Early Out" authority or involuntarily (at age 50 with 20 years or any age with 25 years) you will be eligible for the supplement when you attain your minimum retirement age. |
| Your Medicare Part A Coverage Eligibility Date |
You become eligible for Medicare when you are age 65. If you are permanently disabled and receiving Social Security disability benefits, you may also be eligible for Medicare. |
| Social Security Wage Base Limit |
The current maximum amount of your annual salary from which deductions are taken for Social Security. Applies to FERS and CSRS Offset employees and others who have additional jobs outside of the Federal government. If your income is received from multiple employers and you exceed this amount, you may be due a refund through the IRS. |
| Earnings required to earn one social security credit |
If you earn this amount from a job for which you pay social security taxes, you earn one social security "credit". This amount increase a small amount each year. |
| Maximum credits you can earn in one year |
The maximum number of social security credits that you can earn in a year is 4. If you have covered earnings that equal 4 x $780 (2000 amount) = $3,120, you will receive the maximum number of credits that you can receive in a year.
You normally will need 40 credits to be eligible for Social Security benefits. |
| Social Security Information on the Internet |
The Social Security Administration website provides current up to date information on Social Security benefits. |
Section J. Your Short Term Disability Protection
(Usually less than one year)
| A common misperception among civil servants is that that you do not have protection in cases of short-term or long-term disability; however, -- according to industry analysts -- civil servants have some of the best disability protection available. You do not pay extra for the coverage -- rather you earn it through unlimited accumulation of sick leave that when used with your annual leave can amount to extended periods of time in which you are covered. Also, you may be advanced sick leave or have leave donated to you from your coworkers. During your period of leave you continue to earn 100% of pay and benefits rather than the more common 60% of salary available in private sector plans. |
| Estimated Total Hours You May Be Absent if Disabled and Continue to Receive 100% of Pay and Benefits |
You can continue to receive 100% of your pay and benefits if your disability is of a temporary nature. You can use your accrued sick and annual leave; use any credit hours or comp time you have accumulated; have sick leave advanced to you; and take advantage of the Leave Donor Program. |
| Total Short Term Disability Hours Converted to 40 Hour Work Weeks |
The total hours listed above and converted to 40 hour work weeks. |
| Hours of Accrued Annual Leave |
The total number of hours of annual leave you currently have accrued plus the hours you will earn during the remainder of the leave year. |
| Hours of Advanced Annual Leave |
At the beginning of the leave year (early January) you are advanced the total amount of annual leave that you are expected to earn during the leave year. If you are expected to return to work after your disability, you may be allowed to use your advanced annual leave. |
| Hours of Accrued Sick Leave |
The total number of hours of sick leave you currently have accrued. |
| Maximum Advanced Sick Leave Hours Available (If Approved) |
You may be advanced up to a maximum of 240 hours of sick leave. |
| Credit Hours |
The total number of credit hours you currently have accrued. |
| Comp Time Hours |
The total number of comp time hours you currently have accrued. |
| You May Also be Eligible to Receive Hours from Leave Donor Program |
The total number of donated hours you currently have available, if you are participating in this program. |
Section K. Your Long Term Disability Protection
(Usually More Than One Year)
| Eligible |
Either today or the earliest date you meet the service requirements. You are currently eligible if the date shown is the date this report was run. |
| Estimated Annual Annuity |
Your current estimated annual disability annuity or the estimated minimum annual disability annuity on the date you meet the eligibility requirements |
Estimated Monthly Annuity
(Note: These Amounts Would be Reduced by Your Social Security Disability Benefit if any.) |
Your current estimated monthly disability annuity or the estimated minimum monthly disability annuity on the date you meet the eligibility requirements. |
| Social Security Benefit |
Your estimated Social Security Disability benefit. Refer to your SSA 7005 for monthly amount. |
Section L. If You Resigned Today
| Payment for Accrued Annual Leave |
Amount of payment for your unused accrued annual leave if you were to resign on the date this statement was run. |
| Final Paycheck for Hours Worked? |
You will receive a final paycheck for the hours you have worked in the pay period in which you resign. You will receive the payment on the normal pay day. |
| Eligible to Withdraw Your Own Contributions, Government Matching, and TSP Earning from Thrift Savings Plan? |
If you resign, you are eligible to withdraw your own contributions, the Government matching contributions, and all the earnings from the Thrift Savings Plan; however, if you make a withdrawal and later return to government service you may not make a redeposit. |
| Eligible to Withdraw Government 1% Automatic TSP Contribution? |
If you resign, you are eligible to withdraw the Government 1% Automatic TSP contribution if you have at least 3 years of Federal service. This does not apply to CSRS employees; however, if you make a withdrawal and later return to government service you may not make a redeposit. |
| Eligible to Receive Severance Pay? |
If you resign you cannot receive severance pay unless you have been given a formal reduction-in-force (RIF) notice. In addition, you must have completed at least 12 months of continuous employment and not be eligible for an immediate annuity. |
| Eligible to Receive Unemployment Compensation? |
If you resign, usually you cannot receive unemployment compensation unless you have been given a formal reduction-in-force (RIF) notice. In most states, if you are receiving any compensation -- such as an annuity, workmen's comp, disability, severance pay -- that amount offsets any unemployment compensation. |
| Eligible for Deferred Retirement Annuity |
If you resign and are not eligible to retire -- and do not withdraw money from your retirement -- you may receive a retirement annuity normally at age 62. You must have a minimum of 5 years civilian service. |
| Date You Met/Meet Length of Service Requirement to Receive a Deferred Annuity at Age 62 |
For CSRS and FERS -- you qualify when you have completed 5 years of civilian service. |
| Date You May Apply for and Receive a Deferred Unreduced Annuity |
For CSRS and FERS -- you qualify at age 62 if you had 5 years civilian service when you resigned and you did not withdraw your retirement contributions. |
| Date You May Apply for and Receive an Early Deferred Reduced Annuity (FERS only) |
For FERS you qualify at your minimum retirement age (55-57) if you had 10 years service. The annuity will be reduced by 5/12% for each month under age 62 unless you have at least 30 years of service; have 20 years of service and postpone the commencing date until you are age 60. Your service must include 5 years civilian service. |
| Estimated Deferred Annuity (Unreduced) |
Your monthly deferred annuity based on your current high-3 salary and years of service if you resigned immediately, not including TSP annuity or Social Security annuity. |
| Estimated Early Deferred Reduced Annuity (FERS only) |
Your monthly annuity reduced based upon the months you are under age 62. It is based on your current high-3 salary and years of service if you resigned immediately, not including TSP annuity or Social Security annuity. |
| Eligible to withdraw your CSRS/FERS retirement contributions |
If you resign, you may withdraw your retirement contributions, but not the Government's share. If you are FERS you will not be able to make a redeposit if you are later re-employed by the Federal Government.
Very Important Note: IF YOU ARE A FERS EMPLOYEE AND WITHDRAW YOUR CONTRIBUTIONS, YOU LOSE ALL SERVICE CREDIT FOR RETIREMENT PURPOSES. IF YOU LATER RETURN TO FEDERAL SERVICE, YOU MAY NOT MAKE A REDEPOSIT! |
| Eligible for Temporary Continuation of Health Benefits Coverage (TCC) After Resignation? |
If you resign, you will be eligible for Temporary Continuation of Coverage (TCC) to continue your health benefits for up to 18 months. You will be required to pay the full premium plus a 2% administrative charge. |
| Eligible to Convert Federal Employees' Group Life Insurance to an Individual Policy? |
If you resign, you will continue to have your Federal Employees' Group Life Insurance protection for 31 days free of charge. During this 31-day period you may convert your insurance to an individual policy up to the amount your had when your coverage ends. |
| Eligible to Convert NASA Employees Benefit Association (NEBA) Life Insurance to an Individual Policy? |
If you resign, your NASA Employees Benefit Association Life Insurance policy entitles you to convert to an individual policy up to the face amount of your group policy within 31 days after your separation. |
| Accrued Sick Leave Hours That Will be Re-credited to You if You Return to Federal Civil Service |
If you resign, the current amount of your accrued sick leave hours that will be re-credited to you if you return to Federal civil service. |
Section M. If You Were To Die Today
Based upon your current status today, your survivors would receive:
| Payment for Accrued Annual Leave |
The current dollar amount your beneficiary will receive for your accrued annual leave. |
| FERS Basic Lump Sum Death Benefit to Spouse (FERS Only) |
The current dollar amount of the FERS basic lump sum death benefit your surviving spouse will receive. Requires 18 months of civilian service. |
| Lump Sum Death Benefit to Spouse (FERS only) |
The dollar amount of the lump sum death benefit of one-half of your basic pay that your surviving spouse will receive. Requires 18 months of civilian service. |
| Final Paycheck for Hours Worked? |
Your beneficiary will receive a lump sum payment for all the hours you have worked in the pay period. |
| Beneficiary May Withdraw Your Own Contributions, Government Matching and TSP Earnings From Thrift Savings Plan? |
Your beneficiary is eligible to withdraw your TSP contributions, the Government matching contributions, and all the earnings from your Thrift Savings Plan account. |
| Eligible to Withdraw Government 1% Automatic TSP Contribution? |
Your beneficiary is eligible to withdraw the Government 1% Automatic TSP contribution from your Thrift Savings Plan account. Does not apply if you are covered under the CSRS retirement system. |
Total
Non-Accidental Death Benefit - FEGLI Life |
The dollar amount of your FEGLI life insurance that your beneficiary will receive if your death is non-accidental. |
Total
Accidental Death Benefit - FEGLI Life |
The dollar amount of your FEGLI life insurance that your beneficiary will receive if your death is accidental. |
Total
Non-Accidental Death Benefit - NEBA Life |
The dollar amount of your NEBA life insurance that your beneficiary will receive if your death is non-accidental. |
Total
Accidental Death Benefit - NEBA Life |
The dollar amount of your NEBA life insurance that your beneficiary will receive if your death is accidental. |
Social Security Death Benefit
if FERS or CSRS with Social Security Eligibility |
The dollar amount of the death benefit your spouse or eligible child will receive if you are fully or currently insured for Social Security at the time of your death. |
CSRS Survivor Annuity
(Requires 18 months of civilian service) |
The current annual annuity your spouse will receive in the event of your death. Spouse must be married to you for at least 9 months or your death be accidental. |
| FERS Survivor Annuity (Requires 10 Years of Service, Reduced by Any Social Security Benefit) |
The current annual annuity your spouse will receive in the event of your death. Spouse must be married to you for at least 9 months or your death be accidental. (Requires 18 months of civilian service). |
Dependent Child Annuity
for Each Dependent Child Under Age 19 OR Disabled Child who Becomes Disabled Before Age 19
(for FERS, Child's Annuity is Reduced by any Social Security Benefit Payable) |
The current monthly annuity your eligible child will receive in the event of your death. This amount is payable for up to 3 children. If more than 3 children, each child's amount is 3 times the monthly annuity divided by the number of children. (Requires 18 months of civilian service). |
Estimated Worker's Compensation Benefit (OWCP)
If death is work related. |
| Percent of Annual Salary OWCP Surviving Spouse - No Eligible Children |
The current annual amount your surviving spouse with no eligible children will receive if your death is work related. |
| Percent of Annual Salary OWCP Surviving Spouse - With Eligible Children |
The current annual amount your surviving spouse with eligible children will receive if your death is work related. |
| Plus |
| Percent of Annual Salary OWCP Each Eligible Child |
The current annual amount each of your surviving eligible children will receive if your death is work related. |
| Percent Maximum Amount OWCP Surviving Spouse - With Eligible Children |
The current maximum annual amount your surviving spouse and eligible children will receive if your death is work related. |
| Percent of Annual Salary OWCP No Spouse - With One Eligible Child |
The current annual amount your first eligible child will receive if you leave no surviving spouse. |
| Percent of Annual Salary OWCP Each Eligible Child |
The current annual amount each additional eligible child will receive if you leave no surviving spouse. |
| Percent Maximum Amount OWCP No Spouse With Eligible Children |
The maximum annual amount your eligible children will receive if you leave no surviving spouse. |
Section N. Your Thrift Savings Plan
| Percentage of Salary You are Currently Contributing |
This is the percent of your base pay and dollar amount you are currently contributing through biweekly pretax payroll deductions if you specified a percentage of your salary to be contributed. |
| Or
Dollar Amount You Are Contributing |
This is the dollar amount you are currently contributing through biweekly pretax payroll deductions if you specified a dollar amount to be contributed. |
| Percent Matching Contribution by the Government (FERS) |
This is the amount and percent of your current biweekly contribution that is matched. CSRS employees receive no matching contributions. FERS employees receive full match on the first 3% of contributions and 50% match on the 4th% and 5th%. |
| Automatic 1% Government Contribution? (FERS) |
If FERS, you receive the automatic 1% Government contribution whether or not you participate in the Thrift Savings Plan. |
| Recommended amount of biweekly contribution
Note: This block appears on your statement only if your contribution rate will cause you to exceed the statutory limit of $15,000 per year. |
A recommended contribution amount calculated to insure that you will receive the maximum government matching amount. If you reach the $15,000 maximum contribution prior to the end of the year, you will not be able to continue your contributions and will subsequently lose the government matching contributions. The amount is derived by dividing the $15,000 amount into 26 pay periods. |
| Annual Amount of Government Contribution |
For FERS employees, the annual dollar amount the government is contributing to your TSP account. Includes 1% automatic plus matching of your voluntary contribution. |
| Eligible TSP Catch-Up |
States if you are eligible to participate in TSP Catch-Up contributions. |
| Annual Maximum Amount of Salary Contribution |
The maximum percentage of your salary that you can contribute to the Thrift Savings Plan. |
| Maximum TSP Catch-Up |
The annual dollar amount you are allowed to contribute to your TSP Catch-Up. This is pretax. |
| Amount of Your Annual Salary Deferred from Tax |
The portion of your annual salary that you contribute to the Thrift Savings Plan (TSP). This amount is not taxed until you withdraw it during retirement or when you resign. |
| Estimated Annual Tax Reduction Based on 28% Tax Bracket and Your Annual Contribution |
A "rough" estimated annual amount that your Federal income taxes for this year are reduced as a result of your contributions to your Thrift Savings Plan account --at your current contribution rate. |
| To Obtain Your Current Fund Balance |
The 24-hour-a-day phone number for obtaining information about your Thrift Savings Plan account. You may also obtain a personal identification number (PIN) for accessing your personal account information and making inter-fund transfers. You may also obtain this information on the TSP website. |
| Example TSP Annuity |
Example shows the estimated monthly and annual payment you will receive if you elect a single life annuity for various TSP account balances with the assumptions given in the example. Other annuity options are available. For more details, you may also access a TSP calculator on the NEBS website. |
Section O. Annual Value of Selected Non-Pay Benefits
| Government Contribution to TSP |
The annual amount the government currently contributes to your Thrift Savings Plan account. This amount will increase as your salary increases and, if you are a FERS employee, you increase your contribution to TSP. |
| Health Premium (Government) |
The current annual amount the government pays for your health insurance premium. |
| Life Insurance Premium (Government) |
The current annual amount the government pays for your life insurance premium. |
| Amount NASA Contributes for Your Basic Annuity |
The current annual amount the government contributes to the retirement fund for your basic annuity.
For CSRS--an amount equal to 8.51% of your salary;
For CSRS Offset--an amount equal to 8.51% of your salary;
For FERS -an amount equal to 10.7% of your salary. |
| Amount NASA Pays for Social Security |
The current annual amount the Government pays in Social Security tax for your Social Security benefit.
For CSRS-- none;
For CSRS Offset--an amount equal to 6.2% of your salary;
For FERS -an amount equal to 6.2% of your salary. |
| Amount Government Pays for Medicare |
The current annual amount the Government pays in Medicare tax for your benefit.
For CSRS--an amount equal to 1.45% of your salary;
For CSRS Offset--an amount equal to 1.45% of your salary;
For FERS - an amount equal to 1.45% of your salary. |
| TOTAL |
The total of these selected benefits. Does not include the value of other indirect compensation such as training courses, employee physicals, subsidized fitness center, free parking, subsidized cafeterias, Wellness programs etc. Also, does not include monetary awards, tuition assistance etc. |
Section P. Your Total Retirement Income Worksheet
| This worksheet is provided to help you approximate your total retirement income given: the information from this statement; the personal information you obtain from Social Security; and your own projections such as your age at retirement, the amount of your TSP contributions, and other personal factors. It is intended only as an estimate.
As you approach retirement, your Employee Benefits Counselor can provide basic annuity estimates based upon specific projected dates and sick leave balances. |
| Your Estimated Basic Annuity (Optional FERS or Optional CSRS) |
Your basic optional annuity. (From Section H) |
| Your Estimated TSP Annuity |
Space to insert your projected TSP annuity. (From the example in Section N) |
| Your Social Security Earned Benefit - Reduced If Windfall Elimination Provision
OR
Your Social Security Spouse Benefit - Reduced If Government Pension Offset |
Space to insert your estimated Social Security benefit if eligible. (From Section I or your estimate from Social Security, SSA Form 7005.)
Social Security Benefits earned through your spouse-- but payable to you-- may be reduced as a result of "government pension offset". |
| OR
Your FERS Supplemental Annuity (if Between Minimum Retirement Age and age 62) |
Space to insert your estimated benefit amount. Estimated Social Security benefit earned from FERS service. From your minimum retirement age until age 62 you will receive this amount in lieu of Social Security. For computation of this amount, take your Social Security benefit statement to your Benefits Specialist. |
| Your Income from Outside Sources |
Space to insert your estimated additional income from other sources. |
| TOTAL |
Total estimated income you will have at retirement. Add your entries above to obtain a rough estimate of your retirement income. Keep in mind that these numbers are in "today's dollars" and do not include increases due to cost of living increases, locality increases, promotions etc. |
Estimated Annual Value of Your Total Compensation, Salary + Non-Pay Benefits
(Does not include the value of training, employee facilities, awards, etc.) |
The estimated, minimum annual value of your total compensation, salary, and non-pay benefits. |
Section Q. Your Long Term Care Insurance
| Premiums Paid Though Payroll Deduction? |
You have chosen to have payroll deductions taken for your Long Term Care Insurance |
| Bi-weekly Premium for Employee |
The amount of your biweekly premium for Long Term Care Insurance as computed by John Hancock. |
| Bi-weekly Deduction for Employee |
The amount you pay for Long Term Care Insurance each pay period. (If your paycheck will not cover the full deduction, no deduction will be taken.) |
| Bi-weekly Premium for Spouse |
The amount of your spouse's biweekly premium for Long Term Care Insurance as computed by John Hancock. |
| Bi-weekly Deduction for Spouse |
The amount you pay for your spouse's Long Term Care Insurance each pay period. (If your paycheck will not cover the full deduction, no deduction will be taken.) |
| Bi-weekly Premium for Dependent |
The amount of your dependent's biweekly premium for Long Term Care Insurance as computed by John Hancock. |
| Bi-weekly Deduction for Dependent |
The amount you pay for your dependent's Long Term Care Insurance each pay period. (If your paycheck will not cover the full deduction, no deduction will be taken.) |
Section R. Flexible Spending Accounts
| Bi-weekly Deduction for Health Care |
The amount of your biweekly contribution to your Health Care Flexible Spending Account. |
| Bi-weekly Deduction for Child Care |
The amount of your biweekly contribution to your Child Care Flexible Spending Account. |
Finally... This Benefit Statement will be continually improved based on customer feedback. If you have ideas about how we can improve it, please take a few moments to let us know. |
