If you’re looking for a career with excellent benefits, perhaps you should pursue a career with Uncle Sam (a.k.a. government jobs). As one of the largest employers, the federal government is able to provide its employees with benefits of all kind. From health insurance to retirement plans, Uncle Sam will help you cover your expenses.
The Federal Employees Retirement System (FERS) provides a basic pension to employees with five or more years of service. The pension differs on an individual basis, as the amount paid is determined by the years of service and age. Many government employees retire as early and receive lifetime retirement benefits. Employees under FERS will also be covered for Social Security.
If you are a federal employee covered by the FERS, the government will automatically take 1% of your pay and put it in their Thrift Savings Plan. This retirement savings plan is similar to a 401k. The amount you are eligible to receive when you retire depends on how much you have contributed over the years. The contributions will be matched 1 for 1 up to 3%. The government will match 0.5% if you want to contribute an additional 1%. The maximum contribution that the government will watch is 5%.
The government covers employees under FERS with permanent disability retirement. This is only available while employed and ends after service. Federal employees are covered under the Federal Employees’ Compensation Act (FECA). With regards to annual leave, new full-time employees are eligible for 13 days of sick leave per year. Employees with 3 to 15 years of service get 20 days off, and for those with 15+ years get 26 days. These days carry over throughout your career if you don’t use them. After retirement, an employee is compensated for any sick days that he/she didn’t use.
Federal employees have many types of health care coverage. The government contributes an average of 75 percent of the cost of the premiums. For former federal employees, this coverage lasts up to 18 months after retirement. Other federal benefits include survivor annuities for families of deceased employees and life insurance through the Federal Employees Group Life Insurance (FEGLI).
Brendan Franklin has worked many different jobs throughout his life and enjoys sharing the details each industry has to offer. If you’re looking online for job opportunities of your own, i.e. searching government jobs, turn to Jobs Online.
