Greetings!

With the wild swings in the economy, I thought it would be good to provide the following Information to IHS employees.

If you have any questions, please feel free to contact your Regional Human Resources Office which you can locate by using this link, http://www.ihs.gov/NonMedicalPrograms/DHR/index.cfm?module=regionalhrofc

For Civilians - State Tax Changes Are Now Available
The following states have made changes to their tax rates: New Mexico, Delaware, Arkansas, Colorado, Idaho, North Dakota, Oklahoma, Hawaii and Montana. These changes are now available on myPay. You may now make ch

Health care reform

House plan could end some co-pays. You will want to look at this article about changes being contemplated that could affect what you have to pay for health care for you and your family – just follow this link. http://federaltimes.com/index.php?S=4204610

Leave and Earning Statements (LES)

I want to take this opportunity to remind you that it is imperative that you download and save your LES forms. No one, not your timekeeper, supervisor, human resources or financial contacts have access to your LES. You are the only one who can see it and print it. If or when you encounter leave and/or pay problems the LES is the primary document to prove what leave was charged to you or what you were paid. Please also remember that LES are only maintained by DFAS for 26 pay periods. This means that if you are looking for a LES to verify pay or leave from 27 pay periods ago, no LES will exist.

Thrift Savings Plan (TSP)

http://www.tsp.gov/features/chapter02.html

If you are a FERS employee the rules have changed and you no longer have a waiting period to begin contributions! You may elect to contribute any dollar amount or percentage (1 to 100) of your basic pay. However, your annual dollar total cannot exceed the Internal Revenue Code limit, which is $16,500 for 2009.   

Your agency will contribute Agency Automatic (1%) contributions to your account.  There is no waiting period.

If you are contributing your own money, you will also receive Agency Matching Contributions.  There is no waiting period.

In order to get the maximum Agency Matching Contributions, you must contribute at least five percent of the basic pay you earn each pay period, and you must make contributions all year long. ” and the Elective Deferral Calculator.

Prior to June 22, 2009, FERS employees became eligible for agency contributions after a waiting period of up to one year, depending on their date of hire.  This waiting period was eliminated with the passing of new legislation (P.L. No. 111-31).  As a result, FERS employees who were still in the waiting period as of June 22, 2009, are now eligible for Agency Automatic Contributions.  They are also eligible for Agency Matching Contributions if they are contributing their own money.

If you are a CSRS employee, y ou can elect to contribute to the TSP at any time; there is no waiting period.  You may elect to contribute any dollar amount or percentage of basic pay. However, your annual dollar total cannot exceed the Internal Revenue Code limit, which is $16,500 for 2009.

You do not receive any Agency Automatic (1%) or Matching Contributions.

All FERS and CSRS employees may start, change, stop, or resume TSP contributions at any time.
Your payroll contributions will begin the first full pay period after your agency accepts your TSP Election Form ( TSP-1) (or an electronic version of TSP-1, if your agency uses one).

You can change the allocation of your TSP contributions among the different investment funds at any time using this Web site, the ThriftLine, or Form TSP-50, Investment Allocation. Form TSP-50 is available by contacting your Regional HR Staff (see above for link). You can change the way money already in your account is invested by making an interfund transfer using the same methods.

If you are age 50 or older, you can make catch-up contributions to your account. Contributions must be made through payroll deductions. However, you may also transfer or roll over eligible funds from a traditional IRA or an eligible employer plan into your TSP account. See Form TSP-60, Request for a Transfer Into the TSP.

You must be in pay status (that is, receiving basic pay) to make contributions and to receive agency contributions for a pay period. Therefore, if you are not in pay status, your contributions (and your agency contributions, if you are a FERS employee) will stop until you begin receiving pay once again.

Basic pay for TSP purposes is defined by law. It consists of the same elements of pay used to calculate the deduction for your FERS or CSRS annuity. The definition does not include awards, bonuses, buyout incentives, or many forms of premium pay. Contact your personnel office if you have questions about your basic pay for TSP purposes.

Note: As a result of Public Law 103-353, the Uniformed Services Employment and Reemployment Rights Act (USERRA), Federal civilian employees may make up contributions missed due to military service. However, certain restrictions apply if you are contributing to the TSP while performing military service. See our Fact Sheet: TSP Benefits That Apply to Members of the Military Who Return to Federal Serviceand your agency for more information about this opportunity.