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Show 27 retirement Coders! Hinraipltey nraemrt lef iiiremeinif System si?5BI raiystfeiry HILL TOT TIMES: Friday, April 24, lf7 New plan affects more than ' Editor's not: The Federal Employment Retirement System, which went into effect Jan. 1, is still causing a flurry of questions. This Hill article is the first of a four-paTop Times series which will try to answer most of those questions. rt 1 million DOD civilians; made up of three components plan, a portion up to ,5 percent of their salary rof which is matched by the government. Here's a summary of the Social Security benefits. You are eligible for two types of Social Security benefits under the FERS: Old-agsurvivor and disability insurance, which replaces a portion of earnings lost as a result of retirement, disability or death, and fer$ , imp jjiiiim mi rrrr- - w mvi ll 111 Mill III i ; ZzzzxUy 1 e, By Hal Haskins American Forces Information Services " The new Federal Employees Retirement System went into effect Jan. 1, and today affects more than 1 million Department of Defense civilians. FERS automatically covers new government employees hired after Dec. 31. 1983. Those hired before that I date can transfer to the new system 1 or can remain covered under the older Civil Service Retirement System and receive any Social Security benefits I earned for employment. The new system has three compo-- i nents: Social Security, basic benefit plan and a savings plan. I Under FERS, members pay full So-cial Security taxes and a small contri- bution to the basic benefit plan. In " i. non-feder- al iI addition, people can make r j izi j.: tax- - : j tuumuuuuus tu a savings ueierrcu -- CCeD Medicare hospital insurance, which pays a portion of hospital expenses incurred while you are receiving Social Security disability or retirement benefits. Old age survivor disability insurance Benefits include: Monthly payments if you are retired, have at least 40 quarters tof coverage under Social Security and have reached at least age 62. Monthly payments during your retirement are also made for your spouse and dependents if they are eligible. Monthly payments if you become disabled and payments for your spouse and dependents if they are eligible during your disability. . ly Cardoro old-ag- Monthly payments for your eligible survivors or a lump sum payment upon your death. The amount of monthly payments is based on three factors: Average earnings upon which you have paid Social Security taxes. Number of dependents in family. Consumer Price Index changes. People receiving Social Security, payments while under the age of 70 who have other earnings that exceed specified amounts, will have their payments reduced or stopped. There are no special Social Security rules for UJ BST DFNS FOR R TOUGH OFF6NS6 e, ...... After 1989...... ......6.2 Medicare hospital insurance The Medicare portion you and the government each pay is equal to of your salary, up to the maximum taxable wage base. No increase is scheduled. For more information about Social Security benefits, visit or call the Social Security Office at 324 25th Note that no Street or call rules Social apply to Security special FERS participants, including those who transfer from the CSRS. 1.45-percen- Og-de- n 625-563- 1. BILL'S SHEET METAL LAYTON Attorney At Law TH FERS participants, including those who transfer into the system. Most of the Social Security cost is paid through payroll taxes. You pay a percentage of your salary, up to a specified earnings amount called the maximum taxable wage base, and the government, as your employer, pays an equal amount. The maximum taxable wage base is $43,800 in 1987. It increases automatically each year, based on the yearly rise of average earnings of the American work force. The percentage of your wages paid for survivors and disability insurance coverage are: 1986 and 1987 .5.7 1988 and 1989 .......6.06 1 COOLER SALEg PRE-SEASO- N AlVin 544-426- or cmampioncooihis Completely Installed 12 HP. 5 year WARRANTY 4800 CFM ,, Cools up to 1350 sq. ft. No Down Payment jj. eg-j- Financing Available; W.V.V. Off pino aon ttimliiiDGsGuM We've been assisting skilled military computer technicians make the transition to the private sector for over 20 years. If you've decided to join the civilian ranks, TALK TO US FIRST. We're the Data Systems Services Division of Eaton Corporation, a 500 man computer maintenance company that supports govern-meand commercial customer locations worldwide. If you have experience with Digital's PDPVAX hardware and associated peripherals, talk to us. We're confident you.'ll like what we can do for you. or Contact Dan Hansen at World Headquarters best the can we to discuss how help you identify career opportunities that fit your personal needs before you acto: EATON tually separate. If unable to call, send your resume Green 5875 Division, Services CORPORATION, Data Systems U.S. EOE MFVH. CA 90230. Culver City, Valley Circle, Citizenship required. Some positions may require a background investigation. BEDDING FLAHTS AMD nt (800-328-663- Selection of "We Have A Large " Herbs' 2 Pots 9BC 3) (213-215-085- 3) Corporation. Digital's POPVAX are trademarks of the Digital Equipment Excellence Through People Phone - G4Q4 Oo. 2000 E. Qgdcn. 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