Employee Benefits - NIH Benefits Information - Did You Know? August 2008
What’s New?
Topics Of Interest:
- Is Long Term Care (LTC) Insurance Similar To Disability Insurance?
- What Is The Social Security Windfall Elimination Provision (WEP)?
- Can I Elect To Contribute 100% Of My Bi-Weekly Basic Pay To My Thrift Savings Plan (TSP)?
- Are My Parents Eligible For Coverage Under Any Benefits Programs?
- Why Do I Need A myPay PIN?
Where Do I Go If I Have Questions About My Benefits?
1. BENEFITS CALENDAR OF EVENTS
2. ANNUAL 2008 BENEFITS STATEMENTS
The 2008 Benefits Statements were scheduled to be mailed in mid-July. The statements were mailed to your home address of record. If you have not received your statement by August 15th, you may request a duplicate by contacting Tonya Council at councilt@od.nih.gov or 301-496-4556.
3. THRIFT SAVINGS PLAN (TSP) 2008 SECOND QUARTER PARTICIPANT STATEMENTS
Your second quarter TSP participant statement, which covers the period from April 1 through June 30, 2008, is now available on the TSP website. To receive e-mail updates whenever new participant statements are available, you can sign up on the TSP website at "Get E-mail Updates".
4. IS LONG TERM CARE (LTC) INSURANCE SIMILAR TO DISABILITY INSURANCE?
Actually, they are very different from each other. Long Term Care (LTC) Insurance pays for custodial care that you need if you can no longer perform day to day activities by yourself, i.e., getting dressed, eating or bathing. It also includes the kind of care you would need if you had a severe cognitive impairment such as Alzheimer’s disease. For more information on LTC, visit the Federal Long Term Care Insurance Program website or contact LTC Partners at 1-800-582-3337 (TTY: 1-800-843-3557). You may apply for a LTC policy at any time. In contrast, disability insurance replaces the income you lose if you’re unable to work because of an accident or injury (e.g., paying normal household expenses). The Federal government does not offer disability insurance.
5. WHAT IS THE SOCIAL SECURITY WINDFALL ELIMINATION PROVISION (WEP)?
The Windfall Elimination Provision (WEP) (SSA) primarily affects you if you earned a pension in any job where you did not pay Social Security taxes (such as Federal service covered under the Civil Service Retirement System (CSRS)), and you also worked in other jobs long enough to qualify for a Social Security or disability benefit. The provision affects how the amount of your Social Security or disability benefit is calculated. If you are covered by the CSRS and qualify for a Social Security benefit based on other employment, you probably will be affected by WEP. If you are covered by the CSRS Offset or you transferred to the Federal Employees Retirement System (FERS), you may still be subject to WEP; however, the impact may be reduced or eliminated because of the additional years you paid Social Security taxes. If you have questions regarding WEP, you should contact the Social Security Administration (SSA) at 1-800-772-1213 (TTY 1-800-325-0778).
6. CAN I ELECT TO CONTRIBUTE 100% OF MY BI-WEEKLY BASIC PAY TO MY THRIFT SAVINGS PLAN (TSP)?
Yes, you can elect to contribute up to 100% of your bi-weekly basic pay to your TSP account by entering your election in myPay (DFAS). The Defense Finance and Accounting Service will withhold all mandatory deductions first and will then withhold any remaining balance for your TSP. This opportunity allows you to maximize your contributions early in the calendar year. However, if you are covered under the Federal Employees Retirement System (FERS), and eligible for TSP Agency matching contributions, you will most likely want to make your contributions each pay period. Keep in mind, Agency matching contributions are made on a bi-weekly basis. Therefore, any pay period in which you do not contribute to your TSP account, you also will not receive the Agency matching contributions.
7. ARE MY PARENTS ELIGIBLE FOR COVERAGE UNDER ANY BENEFITS PROGRAMS?
Your parents, and parents-in-law, may qualify for coverage under the Long Term Care (LTC) Insurance Program (OPM) and the Flexible Spending Accounts (FSA) Program (OPM). If you are eligible to apply for LTC (whether or not you actually apply), your parents are considered qualified relatives and can apply for coverage. If you claim your parents as IRS dependents or if you jointly file your taxes with them, they may be covered under dependent and/or health care FSA. If you have questions regarding LTC, contact the LTC Partners at 1-800-LTC-FEDS (1-800-582-3337), (TTY: 1-800-843-3557). If you have questions regarding FSA, contact SHPS at 1-877-FSAFEDS (372-3337), (TTY: 1-800-952-0450).
8. WHY DO I NEED A myPAY PIN?
It is very important to have access to your myPay account so that you can view your Leave and Earnings Statement each pay day. You must also use myPay to make changes to your home address, TSP contributions, direct deposit of pay, allotments, and Federal and state tax withholdings. Additionally, all open season health insurance elections must be accomplished using myPay. If you have misplaced your myPay PIN, you may request a new one in one of two ways. One of which is by selecting “New Pin” on the myPay (DFAS) web site. Please make sure you use the “Go” button to finalize your request. Using this method your PIN will be mailed to your current address of record within 7 to 10 business days.
If you need it sooner, your second option is to send a fax to 216-367-3549. You will need to include in your request your name, a daytime phone number, and a copy of your NIH ID, and you must sign the fax. Upon receiving your fax, the Defense Finance & Accounting Service (DFAS) will reset your PIN using the last 5 numbers of your SSN as your temporary PIN. You will then be able to log in within 3 days using your temporary PIN. Upon logging in, you will be prompted to reset your PIN.
If you encounter problems with your PIN or technical issues using myPay (DFAS), contact the DFAS Centralized Customer Support Unit toll-free at 1-888-332-7411. This support line is available Monday through Friday, 7:00 A.M. to 7:30 P.M. Eastern Standard Time. The Centralized Customer Support Unit can provide assistance on how to use the options available to you in myPay. The Centralized Customer Support Unit will also provide support for establishing and changing your PIN.
9. HOW CAN I GET IN TOUCH WITH MY BENEFITS CONTACT?
Your contact in the Benefits and Payroll Liaison Branch will be able to help you with a variety of issues pertaining to the health and life insurance programs, designating beneficiaries, the Thrift Savings Plan (TSP), calculating your retirement annuity estimate, working with you to pay a redeposit for prior civilian service if you previously withdrew your retirement funds, paying a deposit for prior civilian or military service for which retirement deductions were not withheld, etc. To find your benefits contact, review our list of contacts. In addition, the Benefits and Payroll Liaison Branch (BPLB) web site has a wealth of information regarding your Federal benefits. Human resource topics not related to your benefits are normally handled by your Client Services Division HR Representative.
