Benefits

Although part of the federal government, the OCC has a more flexible salary and benefits program than most other government offices. Many benefits are paid for by the agency, at no cost to employees, while others are generously subsidized. The following provides highlights of the OCC’s benefits programs.

Note: This is only a summary, and all benefits are subject to amendments. In the instance of a conflict between this summary and the full program or plan provisions, the provisions will prevail.

• Medical
• Dental
• Vision
• 401(k) Retirement Savings Plan
• Federal Employees Retirement System
• Group Life Insurance
• 24-Hour Personal Accident Insurance
• Business Travel Accident Insurance
• Domestic Partner Benefits
• Health Care, Dependent Care, and Parking Flexible Spending Accounts
• Life Cycle Account
• Disability Programs
• Vacation, Sick Leave, and Holidays
• Physical Exam Program
• Public Transportation Subsidy
• Travel Stipend
• Relocation Allowances
• Alternative Work Schedule
• Telework
• Employee Assistance and Work/Life Programs
• Sittercity.com

Medical

Employees have a choice of plans and options. The OCC contributes approximately 85 percent of the average employee premium, depending on the plan selected. Plans available to employees and their families include:

• fee-for-service,
• health maintenance organizations (HMOs),
• consumer-driven,
• high-deductible, and
• point of service.

Not all plans are available in all areas of the country. There are no waiting periods or exclusions for pre-existing conditions.

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Dental

The OCC provides free dental insurance coverage to employees and their families. Employees may elect to participate in either a preferred provider/traditional dental plan or a dental managed care plan.

• The preferred provider/traditional plan allows for the choice of a dentist from the preferred provider network or from out of network. Routine services provided by a network dentist are covered in full; other restorative services may be subject to a deductible and coinsurance.
• Under the managed care plan, employees must select a primary care dentist from the managed care network. Dental managed care benefits are subject to differing co-pays according to the eligible services.

Both types of plans emphasize preventive dental care and early treatment. The plans provide coverage for diagnostic services, major and minor restorative services, and orthodontia treatment.

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Vision

The OCC provides free vision care coverage to employees and their families. Employees may choose to have services provided by a participating or non-participating provider. A participating provider may extend an additional discount(s) and take care of filing the claim. Coverage includes an eye examination and prescription eyeglasses or contacts once every 12 months at virtually no cost if obtained through a participating provider.

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OCC 401(k) Retirement Savings Plan

OCC automatically contributes 4% of your salary to your OCC 401(k) Plan – regardless of whether you make your own contributions – and matches your deferral contributions up to1% of your salary.

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Federal Employees Retirement System

All employees hired after December 31, 1983, are covered under the Federal Employees Retirement System (FERS). FERS is a contributory plan (mandatory employee and employer contributions) that provides benefits toward retirement (optional or disability) and for eligible survivors. FERS includes three components:

• Social Security benefits
• FERS basic benefit
• Federal Thrift Savings Plan (TSP).
  This Federal savings plan is similar to a 401(k) plan. OCC will automatically contribute an amount equal to 1 percent of your salary to your TSP account, and you can receive an additional 4 percent in matching contributions from the OCC each year – a dollar-for-dollar match on the first 3 percent of pay that you contribute and 50 cents on the dollar for the next 2 percent you contribute.

Employees that have previous Federal service and were hired by a Federal agency prior to January 1, 1984, may be covered by the Civil Service Retirement System (CSRS), or the Civil Service Retirement System Offset.

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Group Life Insurance

Group life insurance is available to OCC employees either under the OCC’s Group Life Insurance Program and/or the Federal Employees Group Life Insurance Program. Both of these programs provide excellent coverage at minimum cost to the employee. Additional coverage is available for eligible family members.

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24-Hour Personal Accident Insurance

Employees may purchase worldwide, low-cost 24-hour accidental death and dismemberment insurance coverage for themselves and family members.

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Business Travel Accident Insurance

At no cost to employees, the agency provides coverage in case of accidental death and dismemberment while traveling on official business or while on OCC premises performing official duties. This coverage extends to the employee's spouse, domestic partner, and dependent children when invited to attend OCC-sponsored events or during OCC relocation visits.

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Domestic Partner Benefits

Employees with domestic partners are eligible to receive a health insurance subsidy to cover the cost of privately-obtained health insurance for their domestic partners and the children of their domestic partners if they are not eligible for group health insurance coverage through another employer or covered under any other group-sponsored plan. The amount of the subsidy will be determined annually.

Domestic partners and their children are also eligible for benefits under the OCC's Business Travel Accident insurance programs as well as the OCC's Employee Assistance Program (EAP) at no cost to the employees.

Coverage is also available under the OCC Dental and Vision Care Programs, the OCC Group Life Insurance Program, and the 24-Hour Personal Accident Insurance Program at minimum cost to the employee. Since the OCC pays the full premium cost for its Dental and Vision, the employee will only pay imputed income.

For employees who relocate, the OCC provides domestic partners and their children with the same allowances, services, and benefits that are available to the spouses and children of employees.

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Health Care, Dependent Care, and Parking Flexible Spending Accounts

The Flexible Spending Account (FSA) Program allows employees to contribute a portion of their wages on a pre-tax basis to cover eligible out-of-pocket health care, dependent care, and/or parking expenses.

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Life Cycle Account

The OCC provides an annual subsidy that employees can elect to deposit into a health care or dependent care Flexible Spending Account or receive the benefit in cash.

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Disability Programs

Employees can elect to purchase coverage under OCC's Short-Term Disability Insurance Program, which provides a weekly disability benefit of 60 percent of their salary for up to 90 days.

All employees are automatically covered by OCC's Long-Term Disability Insurance Program at no cost. This benefit has a 90-day waiting period before benefits begin. If approved for disability, employees receive 60 percent of their salary. The program has a monthly benefit maximum, and the benefit will be offset by other income sources, e.g., retirement benefits, workers' compensation, and social security.

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Vacation, Sick Leave, and Holidays

• Vacation days (or annual leave) accumulate at a rate of 13 to 26 days each year depending on length of employment. Prior federal service, civilian service, and some military service are counted toward the annual leave accrual rate.
• Sick leave accrues at a rate of 13 days each year with unlimited accrual.
• Ten paid holidays are also granted each year.

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Physical Exam Program

The OCC Physical Examination Program allows reimbursement of up to $200 for out-of-pocket expenses associated with a routine annual physical examination.

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Public Transportation Subsidy

This program provides OCC employees with a non-taxable subsidy for use on established public transportation systems to commute to and from their regular place of business.

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Travel Stipend

This program provides a per-night stipend for travel in excess of 60 nights to help offset hardships associated with frequent overnight travel incurred by some OCC employees.

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Relocation Allowances

Though relocation benefits vary based on pay grade, available allowances for relocating an employee's household may include:

• a pre-transfer home-finding trip,
• home-finding assistance for buyers or renters,
• real estate purchase closing costs, a mortgage interest differential or mortgage subsidy,
• home sale closing costs or home sale services, loss-on-sale protection,
• shipment of household goods or self-move,
• employment assistance for an employee's spouse or domestic partner, and
• a miscellaneous expense allowance.

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Alternative Work Schedules

These are alternatives to the traditional workday. Many employees choose to work eight 9-hour days, one 8-hour day, and have one day off every two weeks. This is referred to as a 5/4/9 schedule. Employees may also be eligible to work four 10-hour days or a 4/10 schedule.

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Telework

With supervisory approval, eligible employees may arrange to work from home when their work can be performed away from the office or bank setting.

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Employee Assistance and Work/Life Programs

The OCC's Employee Assistance Program (EAP) provides confidential professional assessment and referrals to help employees 24 hours a day, 365 days a year. The program also provides resources and referrals for services such as daycare providers, elder care, and legal and financial advisors. EAP services are provided at no cost to employees.

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Sittercity.com

Sittercity.com is a service that helps employees find in-home care providers such as babysitters and nannies, senior companions and nurses, housesitters and housekeepers, tutors for all grades and subjects, and petsitters or dog walkers. Membership to Sittercity.com is paid by the OCC and employees assume the full cost of caregiver services.

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