Federal Employee Retirement Calculator - PowerPoint

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Federal Employee Retirement Calculator - PowerPoint Powered By Docstoc
					FRB WEB INTEGRATED
     SOLUTION
     First Implemented in January 2000




    Developer and Proprietary Owner
      Economic Systems Inc (ESI)
             January 2005
                Introduction of ESI
• Started as HR consulting firm in 1990
• ESI supports retirement benefits delivery for
  federal agencies
   –   Commercial-off-the-Shelf (COTS) software
   –   On-site retirement processing
   –   Employee Counseling
   –   Early-out/Buy-Out Support Services
   –   Employee seminars

• Federal Retirement Benefits (FRB) Software
  Solutions
   - Web Based or Windows Based Calculations
   - Automated and Pre-filled Forms
             FRB Web – Integrated Solution
              Introduces in January 2000

• FRB Integrated Solution combines four applications
  into one:
   –   HR specialist calculator
   –   HR representative for calculating Service Computation Dates
   –   Employee access to the same comprehensive calculator
   –   Automated and Pre-filled retirement/benefit forms
• Works off one central database
• Data Download Service
   - Pre-fills employee profile
   - Pre-fills salary history
   - Provides a bi-weekly update of salary information
• Works as an Application Service Provider
              THE INTEGRATED FRB RETIREMENT CALCULATOR SYSTEM

                                                                            Development
                                                                                                       Application
                                             FRB Platform                   Maintenance
                                                                                                     Service Provider
                                                                              Service




WEB Interface for Information Management, Counseling                       Data Updates            Central
                                                                         Secured Interface        Database
                Calculators, and Forms
 FRB Web Employee Calculator/         FRB Web Specialist Calculator/
      Automated Forms                      Automated Forms

                        Secured Web Access                                                        Data update
                                                                                              Secured Web Interface


   Inputs                                            Inputs
              Reports      Web Help Desk                       Reports
   What-ifs                                         What-ifs


                                                                                             Federal Government
                                                                                                   Agency




  Employees              Counselors                 Specialists
           Retirement Calculator
• Handles the full range of retirement or separation
  actions:
    – Voluntary, early, death-in-service, disability
•   Handles part-time and intermittent service
•   Calculates deposits and redeposit owed
•   Military Deposits (include USERRA service)
•   FERS supplement
•   Calculates Social Security (Old Age/Disability)
•   Calculates TSP and survivor benefits
    Benefits Statement Feature
• Personal Benefits Statement
  – Available on-line/on-demand
• Pre-calculated retirement benefits
  – Optional retirement, early out, disability
  – Quick comparison of options on a single report
• Other benefits
  – Health insurance, life insurance, TSP, sick
    leave, annual leave, death benefits
           Automated Forms
• Automated Forms: integrated into FRB
  Web
• 3 sets of forms: CSRS forms, FERS forms,
  OPM forms (total of 32 forms)
• Data flows automatically from FRB
  calculator into Automated Forms
  – E.g., service history data flows into 2801-1
    form and to other forms
 FRB Web – Integrated Solution
        Advantages
• Facilitates employee self-service and communications
  between employee and HR specialist
• Facilitates centralized, automated retirement processing
   – Minimizes data entry or reentry
   – Allows for remote data entry and use
   – Significantly reduces time required to process retirement
     case
   – Optional data download to pre-fill the employee profile,
     salary history and bi-weekly updates of salary information
    HR/Benefits Specialist Role
• Select employee
• Review/enter historical data
• Select scenario/type of retirement
• Select calculation options
• Develop a preferred scenario and obtain
  report
• Select Automated Forms
              FRB Web Login
• Two types of licensing for the HR community:
  - HR/Benefits Specialist
  - HR Representative for calculating SCDs only
• Login procedures
  – Sign-in, controlled access, security procedures
• Employee access
  - Limited to individual employee information
• User accesses iForms after login
    HR/Benefits Specialist Role
        Employee Data Management
• HR specialist searches for employee data in
  the central database
  – Search is conducted by name or SSN
• HR specialist can scroll down roster list of
  employee records
• New employees can be added
Easy Navigation
Informational “Help” Items
     on every screen
       Detailed Service History
• Based on data available in the employee’s OPF
  service history is entered as foundational data to
  support calculations
   – Period of service, retirement plan, employee type
      (LEO/FF, ATC, Military Tech), work schedule,
      deposit/redeposit paid
• Specialist can enter or modify service data
   – Employees can only view the data
• Calculator uses data to determine creditable service,
  eligibility, and retirement benefit
        Deposits/Redeposits
• System maintains data on deposit payments
  and refunds
Service Computation Dates
Salary History
High-3 Calculation
Social Security Calculator
Spousal Social Security
     Calculator
Social Security Approximate
          Earnings
Scenario Manager
Scenario Home Screen - Calculation Menu
         Calculation Options
• Next series of screens show examples of
  different calculation options
• These options can be exercised by
  employee for “what-if” scenarios
• To select an item to include in the
  calculations just check the box from the
  calculation menu.
Retirement Options
Survivor Benefits
Health Insurance
Life Insurance
Deposit/Redeposit Decisions
Salary Projection
Service Projections
Sick Leave Calculator
TSP Calculator
      Social Security Calculator
• Social Security is key component for FERS employees and
  some CSRS employees with Social Security eligibility
  based on non-Federal employment
• Affects CSRS Offset employees
• Needed for calculating “Catch 62” for CSRS employees
  who have not paid military deposit
• Spousal Social Security needed to calculate Public Pension
  Offset
• Project future entitlement based on employment after
  Federal retirement
Social Security
Output Report - Inputs
Output Report - Benefits
Output Report - Benefits
Output Report - Benefits
Output Report - Service History
Output Report - Salary History
Automated Forms
iForms SF 2801-1
iForms SF 2801-1
   FRB Web – Integrated Solution
Easy/Secure Access   Same Comprehensive       •Federal Retirement
                     Tool for HR and          • Social Security
128 SSL-Dual         Employees                • TSP
Firewall


Customer Service    Automated and Pre-        On-Line Form
by Telephone and E- Filled Forms (employee    Filling – Ready for
mail                profile and service       Electronic Filing of
                    history)                  Retirement
                                              Applications


Available 24/7/365   Calculations and Forms   Saves Time,
                     on the Same Tool         Resources, and
                     Forms Compatible with    enhances
                     E-OPF                    Administrative
                                              Accuracy

				
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Description: Federal Employee Retirement Calculator document sample