THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Monday, July 11, 1994 TAG: 9407070007
SECTION: FRONT PAGE: A06 EDITION: FINAL
TYPE: Letter
LENGTH: Short : 37 lines
In recent weeks your newspaper has published several letters concerning federal retiree benefits. This seems to be a subject of some interest to the general public, and I applaud your efforts to print items that enlighten your readers.
Most people who exhibit an inordinate interest in other people's ``benefits'' usually do so while totally unencumbered by facts. Therefore, I feel compelled to correct some of the misconceptions relative to federal retiree benefits.
1. Full retirement: A federal employee is eligible for ``full retirement'' at age 55 with at least 30 years' service. The word ``full'' does not mean that you retire at the same pay received while employed. Full retirement begins at 56 percent of the average of your high three years of income and increases with additional years of service beyond 30.
2. Sick leave: Contrary to popular belief, sick leave is not unlimited; it is earned at the rate of four hours per two-week pay period. It can accumulate throughout the time of employment and can be applied toward years of service for retirement purposes only after achievement of the required 30 years.
3. Hospitalization insurance: Federal retirees do not receive ``paid'' hospitalization insurance, neither while employed nor when retired. Like many private employers, the federal government shares the cost of health insurance with the employee or retiree.
THOMAS M. HILL
Smithfield, June 21, 1994 by CNB