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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

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…

  • …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


FEDERAL RETIREMENT BENEFITS ARE NOT A GIFT

Benefits are earned through long term government service and your contributions


NARFE Goals:

  • Protect income security

  • Protect health benefits

  • Receive fair and equal treatment


LEGISLATION IS A

MAJOR FOCUS

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


NARFEis highly respected

Because of:

  • A Top legislative staff

  • Close contact with Congress and OPM

  • Nationwide network of legislative activists


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)


Preserving Your Retirement Benefits

  • NARFE will:

  • Sponsor and support needed legislation

  • Oppose adverse legislation

  • Foster public recognition

  • Cooperate with other organizations to accomplish goals


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.


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


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


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.


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.


“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.


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 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 DETERMINES NARFE ISSUES?

  • Grass Roots

  • Chapters

  • Federation convention of delegates

  • National convention of delegates

  • Focus on issues

  • Political, but non-partisan


WHERE CHAPTERS ARE:

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


MEMBER BENEFITS:

  • Effective voice in Washington DC

  • NARFE monthly magazine

  • Liaison with Office of Personnel Management

  • Insurance

  • Perks

  • Social contacts



The Web Site

www.narfe.org

Legislation

Q & A

NARFE Magazine

Current Federal Employee Info

Retirement Tips

Insurance Benefits

Member Discounts


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!


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”



Protect Your Benefits

Through NARFE!


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