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Who is Looking Out for Your Retirement Benefits ?

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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….

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Presentation Transcript
slide1

Who is

Looking Out

for Your

Retirement

Benefits

?

slide3

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.
slide4

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
slide5

FEDERAL RETIREMENT BENEFITS ARE NOT A GIFT

Benefits are earned through long term government service and your contributions

slide6

NARFE Goals:

  • Protect income security
  • Protect health benefits
  • Receive fair and equal treatment
slide7

LEGISLATION IS A

MAJOR FOCUS

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

slide8

NARFEis highly respected

Because of:

  • A Top legislative staff
  • Close contact with Congress and OPM
  • Nationwide network of legislative activists
slide9

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)
slide10

Preserving Your Retirement Benefits

  • NARFE will:
  • Sponsor and support needed legislation
  • Oppose adverse legislation
  • Foster public recognition
  • Cooperate with other organizations to accomplish goals
slide11

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.
slide12

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
slide13

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
slide14

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.
slide15

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.
slide16

“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.
slide17

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
slide18

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”

slide19

WHO DETERMINES NARFE ISSUES?

  • Grass Roots
  • Chapters
  • Federation convention of delegates
  • National convention of delegates
  • Focus on issues
  • Political, but non-partisan
slide20

WHERE CHAPTERS ARE:

  • 1476 Chapters in US, Panama, Philippines and Puerto Rico
slide21

MEMBER BENEFITS:

  • Effective voice in Washington DC
  • NARFE monthly magazine
  • Liaison with Office of Personnel Management
  • Insurance
  • Perks
  • Social contacts
slide23

The Web Site

www.narfe.org

Legislation

Q & A

NARFE Magazine

Current Federal Employee Info

Retirement Tips

Insurance Benefits

Member Discounts

slide24

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!

slide25

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”
slide27

Protect Your Benefits

Through NARFE!

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