Each depositor insured to at least $250,000 per insured bank

The FDIC offers a wide range of benefits programs for its employees and their eligible dependents, including:

Benefits Eligibility Chart

Federal Employees Health Insurance

Federal Employees Dental and Vision Program (FEDVIP)
Federal Employees Group Life Insurance (FEGLI)
FDIC Choice — Flexible Benefits Plan
FDIC Parking Flexible Spending Account Program
Retirement and Savings
WorkLife
Holidays and Leave

Although not all of the above benefits are offered for every position, be assured that the benefits package you'll receive at the FDIC is among the best designed, most flexible and highly generous available in the private and public sectors.

Eligible employees can choose one of many plans provided under the Federal Employees Health Benefits Program (FEHB). This program consists of Managed Fee-for-Service (FFS), Point-of-Service (POS), Health Maintenance Organizations (HMO), and High-Deductible Health Plans (HDHPs) with a Health Spending Account. Eligible employees can continue this health care coverage into retirement.

Federal Employees Dental and Vision Program (FEDVIP)  

FEDVIP Dental and Vision plans provide a comprehensive range of services. Employees pay 100% of the premium. Benefits are coordinated if you enroll in FEDVIP and an FDIC Choice dental and/or vision program and/or a FEHB plan as follows: your dental benefits will be paid first by the FDIC Choice dental plan, then your FEHB plan (if that plan provides dental or vision coverage) and lastly by FEDVIP. Vision benefits are paid based on customary "coordination of benefits" rules, meaning the your oldest enrollment pays first and, for children who are covered under the vision plans of both parents, the "birthday" rule applies.

Federal Employees Group Life Insurance (FEGLI)

Eligible employees are entitled to coverage under the Federal Employees Group Life Insurance Program (FEGLI), unless excluded from coverage by law or regulation. This program offers basic and optional coverage for employees and optional coverage for eligible dependents.

FDIC Choice — Flexible Benefits Plan

In addition to the federal insurance benefits described above, FDIC offers a flexible cafeteria benefits program called FDIC Choice. It includes the six benefits programs below:

FDIC Dental Insurance
Eligible employees may elect coverage from several options to meet their specific needs.

FDIC Vision Insurance
Eligible employees may elect coverage from several options to meet their specific needs.

FDIC Life Insurance
Eligible employees can also elect life insurance coverage under the FDIC Life Insurance Program. This program provides basic and optional life coverage for employees and optional coverage for eligible dependents.

FDIC Long-Term Disability  (Not available to employees on temporary or term appointments)
Income protection is available to permanent employees who are unable to work because of long-term illnesses or injury. The FDIC pays premiums for the standard coverage under this program.

FDIC Health Care Flexible Spending Account
Eligible employees may defer up to $2,500 of their pay, on a pre-tax basis, into a special Health Care Spending Account. Deferred funds can be used throughout the year for reimbursement of certain out-of-pocket health care expenses. The Health Care FSA may be used to cover certain medical services, treatments or supplies that would not be reimbursed under any other plan that the employee may have.

FDIC Dependent Care Flexible Spending Accounts
Eligible employees may defer up to $5,000 of their pay, on a pre-tax basis, into a special Dependent Care Spending Account. The deferred funds can be used throughout the year for reimbursement of certain out-of-pocket dependent care expenses.

FDIC Parking Flexible Spending Account Program

The Parking Flexible Spending Account (FSA) Program allows eligible employees to have money deducted from bi-weekly pay on a pre-tax basis to cover qualified parking expenses, up to the maximum amount specified by the Internal Revenue Service. "Qualified parking expenses" are the costs that an eligible employee incurs for parking on or near the premises of an FDIC agency office relative to the daily commute to work. As employees pay for qualified expenses, they may submit a claim for reimbursement from funds that have accumulated in their Parking FSA. Only employees located in offices where FDIC does not offer free parking, and where free parking is not otherwise available in the immediate vicinity of their office, are eligible to participate in the FDIC Parking FSA. An employee located in an office where free parking is assigned and accepted is not eligible to enroll in the Parking FSA. An employee who currently utilizes transit subsidy benefits also is not eligible to enroll in the Parking FSA.

Retirement and Savings

FDIC employees are covered by one of the Federal retirement systems and/or Social Security. The type of appointment and employment history of prior Federal Service determines retirement coverage. The Federal Employees Retirement System (FERS) and the Civil Service Retirement System (CSRS) provide a monthly benefit to retirees who have met the eligibility requirements for retirement. The amount of the annuity benefit is computed using a formula based on two factors: length of Federal service and average salary computed over the highest three years of consecutive service. The CSRS is a defined benefit plan. FERS is a defined contribution plan where the FERS annuity is supplemented by Social Security and the Thrift Savings Plan to provide a complete retirement benefit.

Federal Thrift Savings Plan
Employees may contribute a portion of their basic pay to the Federal Thrift Savings Plan and those under FERS may receive agency matching contributions.

FDIC Savings Plan
The FDIC also offers a 401(k) plan (FDIC Savings Plan) in addition to the Federal TSP. Eligible employees may contribute a portion of their pay and receive agency-matching contributions.

NOTE: Qualified FDIC employees may participate in both the Federal Thrift Savings Plan and/or the FDIC Savings Plan, up to the Internal Revenue Code limitations established for salary deferral and annual additions.

WorkLife

Alternative Work Schedule
FDIC employees have a variety of options to choose from in determining their daily work schedule. They include expanded starting and stopping time bands, pre-selection of a variable daily start time, pre-selection of a 30-, 45- or 60-minute lunch period, a compressed work schedule and a flexible work schedule (with credit hours).

Telework
Telework is a voluntary program that allows employees (with supervisory approval) to perform official duties at home or at another approved alternative work site.

Holidays and Leave

Holidays
In addition to vacation time, employees enjoy 10 paid federal holidays each year.

Annual Leave (Vacation Time)
Employees accrue annual leave based on years of Federal service. Annual leave can be used as paid vacation time and time off for personal or emergency reasons: 4 hours per pay period for less than 3 years of service, 6 hours per pay period for 3 years to 15 years of service, and 8 hours per pay period for 15 or more years of service. Executive Managers earn 8 hours of annual leave upon appointment, regardless of their amount of Federal service.

Sick Leave
Employees accrue four hours of sick leave per pay period. Typically, there are 26 pay periods in a year; therefore, employees accrue 13 days a year.