As a VA employee, you are part of the Federal Employees Retirement System (FERS). Under FERS, you are eligible for monthly retirement benefits after just 10 years of Federal service. This retirement system is portable. If you leave Federal employment, the Social Security component carries over to your new employment.
If you become disabled and have at least 18 months of service, you may be entitled to long-term disability benefits.
VA will also work hard to accommodate any handicapping condition to promote your success as a productive member of our workforce.
Build up your retirement nest egg through the Thrift Savings Plan. It's the Government version of the private sector's 401K Plan.
Contributions are made from pre-tax dollars and both investments and earnings are tax deferred until withdrawn.
The plan offers five investment funds to choose from, and you can transfer money from other eligible retirement savings plans into your Thrift Savings Plan account.
The Government automatically contributes 1 percent of your salary with additional matching contributions up to a total of 5 percent.
The Government-wide Federal Employees’ Group Life Insurance (FEGLI) program offers a variety of affordable coverage and benefits amounts.
VA pays 1/3 of the cost of your basic life insurance premium.
In addition to the Basic coverage, there are three forms of Optional insurance available (Standard, Additional, and Family).
Unlike many life insurance packages in the private sector you may be eligible to carry your FEGLI life insurance into retirement.
Our long-term care insurance plan enables you to plan ahead for health care coverage you could need years from now.
Long Term Care Insurance offers comprehensive coverage if you become unable to care for yourself.
This coverage helps pay for nursing home care, assisted living facility care, home health care, hospice care, respite care, and other long term care services.
Two tax-lowering flexible spending accounts are available to Federal employees: