Just in case you aren’t aware, becoming a federal government employee has numerous benefits. Also, becoming one isn’t nearly as hard as everyone thinks it is. The benefits of federal government employment can be weighed in many different ways. Use OPM to compare these benefits with your current employer and see if a government job is worth your consideration.
Retirement
We can start anywhere with outlining these benefits, but let’s begin with retirement. Retirement seems to be what most people are working towards, so let’s explain you can look forward to following a federal government career. Retirement in the federal government is three-fold. There is a pension, a 401k with decent match, and social security. The pension and 401k plans have specific names, but they aren’t important for this explanation. This all means that when you retire, you will be drawing three different pay checks because of your government job.
How much will you draw from your current employer?
Leave
The next substantial benefit with a government job is time off. After speaking with many friends and family it has been determined that time off in the federal government is more than generous. In federal employment you receive paid time off for vacation (AL) and for illness (SL). Both benefits accrue each two week pay period and can be used as they are earned. There is no waiting period.
AL or annual leave is most compared to PTO in the private sector. With supervisor approval, it can be taken anytime as long as it is requested in advance. The accrual rate is based on type of position and amount of federal service. The rates are 4, 6, or 8 hours per pay period depending on your situation.
SL or sick leave is also paid time off, but is specifically used for illness. If you aren’t feeling well, and must take a day off, it comes out of your sick leave balance and not your annual leave balance. You can also use sick leave to care for family that is ill, attend doctor appointments, or even attend funerals.
How much time off do you receive at your current employer?
Health Insurance
Health insurance is another benefit afforded to all employees. Under the Federal Employees Healthcare Benefits program you will have the option of choosing the company and plan that is right for you. There are seemingly unlimited healthcare plans that you, as an employee, will have the option to review and select for yourself and your family. Each plan has different coverages and costs. No matter the plan that you choose the government will cover 3/4 of your premium if you are full time. There are no pre-existing condition exclusions or waiting periods to use this insurance.
How does this compare with your current employer?
Life Insurance
In addition to health insurance, life insurance is also offered. The coverage is term and does not build cash value, but like the health insurance, there are no pre-existing condition exclusions or waiting periods. You will have options to elect as much or as little coverage as you need for a very low premium. The cost of the coverage varies based on the amount you select, the amount of money you make, and your age bracket. Does your employer offer life insurance? The benefits listed above are those offered to all employees. There are countless other benefits that can be discussed, but may or may not be available to all employees.
In order to take advantage of these benefits you must first become a federal government employee. If you’ve been applying with no luck, it all starts with the resume. You can also watch this video that explains the entire hiring process.
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