Who is
This presentation is the property of its rightful owner.
Sponsored Links
1 / 27

Who is Looking Out for Your Retirement Benefits ? PowerPoint PPT Presentation


  • 76 Views
  • Uploaded on
  • Presentation posted in: General

Who is Looking Out for Your Retirement Benefits ?. NARFE…. Founded in 1921 by 14 federal workers. Now a major force on Capitol Hill and across the nation. Highly respected legislative voice for federal workers and retirees. NARFE is….

Download Presentation

Who is Looking Out for Your Retirement Benefits ?

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


Who is looking out for your retirement benefits

Who is

Looking Out

for Your

Retirement

Benefits

?


Who is looking out for your retirement benefits

NARFE…

  • Founded in 1921 by 14 federal workers.

  • Now a major force on Capitol Hill and across the nation.

  • Highly respected legislative voice for federal workers and retirees.


Who is looking out for your retirement benefits

NARFE is…

  • …nearly 350,000 strong, representing 3.5 million federal employees and retirees.

  • … the only association of federal workers and retirees united to preserve and improve the economic security and well-being of federal employees and their families in retirement


Who is looking out for your retirement benefits

FEDERAL RETIREMENT BENEFITS ARE NOT A GIFT

Benefits are earned through long term government service and your contributions


Who is looking out for your retirement benefits

NARFE Goals:

  • Protect income security

  • Protect health benefits

  • Receive fair and equal treatment


Who is looking out for your retirement benefits

LEGISLATION IS A

MAJOR FOCUS

“Everything we gain, everything we lose, is by act of Congress.”


Who is looking out for your retirement benefits

NARFEis highly respected

Because of:

  • A Top legislative staff

  • Close contact with Congress and OPM

  • Nationwide network of legislative activists


Who is looking out for your retirement benefits

NARFE has helped to bring you:

  • Survivor Benefits (1950s)

  • Creation of the Federal Employees Health Benefits Program (1960s)

  • Thrift Savings Plan and Federal Employee Retirement System (1980s)

  • Long Term Care (1990s)


Who is looking out for your retirement benefits

Preserving Your Retirement Benefits

  • NARFE will:

  • Sponsor and support needed legislation

  • Oppose adverse legislation

  • Foster public recognition

  • Cooperate with other organizations to accomplish goals


Who is looking out for your retirement benefits

Preserving Your Retirement Benefits (2)

  • Inform members about relevant issues –

    • Retirement income, health care benefits, taxation and COLAs.

  • Strengthen political influence through NARFE-PAC.

  • Partner with OPM to answer questions about retirement.


Who is looking out for your retirement benefits

SOME CURRENT ISSUES FOR 110thCONGRESS:

  • Repeal or modify Government Pension Offset (GPO)

  • Repeal or modify Windfall Elimination Provision (WEP)

  • FEHBP Premium conversion for Annuitants Tax Equity


Who is looking out for your retirement benefits

Why are these important?

(GPO and WEP in place since 1983)

  • GPO prevents retirees from collecting both federal annuity and any Social Benefit based on spouse’s work

  • GPO affects 401,200 S.S. beneficiaries –

  • 75% women

  • 42% widowed

  • 85% lost entire benefit


Who is looking out for your retirement benefits

Why are these important?

(GPO and WEP in place since 1983)

  • WEP causes loss of up to 50% of retiree S. S. benefits

  • WEP affects 971,300 S.S. beneficiaries –

  • 2/3rds were Men

  • 20% had paid into S.S. for at least 21 years.


Who is looking out for your retirement benefits

Holding the Line

  • Actions to reinstate or add new benefits are important, but –

  • Our first legislative priority is to prevent any loss of current benefits.

  • So far, NARFE has been successful in fending off attempts to cut back or curtail funding of our current benefits.


Who is looking out for your retirement benefits

“Harbingers of things to come”:

  • Pensions:

  • Defined pension benefits almost unheard of today

  • In 1980, 80% of workers had them, now only 33%

  • Could generate “envy factor”

  • Health Care:

  • Private health care programs hard hit, and FEHBP one of few fee-for-service options left.


Who is looking out for your retirement benefits

OTHER NARFE PROJECTS

  • Alzheimer’s Research (over $7.3 million)

  • Federal Employees Education and Assistance Fund (FEEA)

  • Scholarship Fund (60 $1,000 scholarships)

  • NARFE-PAC


Who is looking out for your retirement benefits

WHO CAN BELONG?

  • Active employees

  • Former employees

  • Retirees

  • Survivors

  • Spouses

  • Former spouses

“Civilians who are or will be eligible to receive an annuity or survivor annuity from the federal retirement programs”


Who is looking out for your retirement benefits

WHO DETERMINES NARFE ISSUES?

  • Grass Roots

  • Chapters

  • Federation convention of delegates

  • National convention of delegates

  • Focus on issues

  • Political, but non-partisan


Who is looking out for your retirement benefits

WHERE CHAPTERS ARE:

  • 1476 Chapters in US, Panama, Philippines and Puerto Rico


Who is looking out for your retirement benefits

MEMBER BENEFITS:

  • Effective voice in Washington DC

  • NARFE monthly magazine

  • Liaison with Office of Personnel Management

  • Insurance

  • Perks

  • Social contacts


Who is looking out for your retirement benefits

The Magazine


Who is looking out for your retirement benefits

The Web Site

www.narfe.org

Legislation

Q & A

NARFE Magazine

Current Federal Employee Info

Retirement Tips

Insurance Benefits

Member Discounts


Who is looking out for your retirement benefits

NARFE: A key source for answers on retirement issues

  • Most chapters have a Service Officer

  • State Service Centers

  • Online assistance through www.NARFE.org

  • Procedures re annuity checks

  • Insurance – FEGLI and FEHBP

  • Notification of death

  • Survivor benefits

All services provided without cost to user!


Who is looking out for your retirement benefits

WHAT DOES IT COST TO BELONG?

  • As of January 1, 2008

  • Membership dues are $33 the first year which includes chapter dues

  • The following year dues are $29 plus chapter dues

  • Options include “Bill Pay” & “Dues Withholding”


Who is looking out for your retirement benefits

Join Today!


Who is looking out for your retirement benefits

Protect Your Benefits

Through NARFE!


  • Login