Benefits

What makes FHFA an employer of choice?

FHFA offers a comprehensive compensation and benefits package that includes both Federally sponsored and Agency sponsored programs. These programs are designed not only to be competitive in the marketplace, but to provide you with a healthy and productive work life balance, as well as financial security now and in the future. The following provides an overview of our compensation and benefits package. Please take a look and see why FHFA is the agency of choice in the Federal Government:

PAY INCREASES

On an annual basis, employees can expect a merit increase reflective of their performance. A merit pay increase is a permanent increase in pay and rewards employee for meeting performance objectives.

PERFORMANCE BASED BONUSES

On an annual basis, employees can expect a lump sum bonus, depending on performance and FHFA or office achievements.

RETIREMENT BENEFITS

FHFA provides retirement plans through the Civil Service Retirement System (CSRS) and Federal Employee Retirement System (FERS). Please visit the links below for more information about CSRS and FERS.

THRIFT SAVINGS PLAN (TSP)

The TSP is a Federal retirement savings and investment plan that offers the same type of savings and tax benefits provided under 401(k) plans. Employees who participate may contribute on a pre-tax and/or Roth basis. Participants receive agency-matching contributions up to the first 5 percent of annual salary. Employees age 50 or older, may contribute additional catch-up contributions per year.

FHFA 401(k) PLAN

FHFA offers an additional 401(k) Plan administered by Charles Schwab. Employees who participate in the 401(k) Plan may contribute on a pre-tax and/or Roth basis. FHFA will match 100 percent of employee contributions up to 5 percent of their eligible pay. Combined TSP and 401(k) contributions (and catch-up contributions, if applicable) are subject to annual IRS limitations.

HEALTH INSURANCE

FHFA pays 90% of the bi-weekly premium of the employee’s choice from a wide variety of Federal Employee Health Benefit plans.

LIFE INSURANCE

The Federal Employee Group Life Insurance Program offers numerous term life insurance options covering employees and dependents. The agency contributes a share of the basic premium which helps keep cost relatively competitive to private term insurance.

DENTAL COVERAGE

FHFA’s Dental Insurance Program provides quality, cost-effective dental coverage. FHFA pays 100% of the premium for employees and eligible dependents.

VISION COVERAGE

FHFA’s Vision Insurance Program provides quality, cost-effective vision coverage. This benefit covers employees and eligible dependents (Co-pay applies).

LONG TERM CARE

The Federal Long Term Care Insurance Program (FLTCIP) provides long term care insurance to help pay for costs of care when you can no longer perform everyday tasks by yourself, or you have a severe cognitive impairment. Annual premiums are competitive in the marketplace.

COMMUTING EXPENSES

100% cost of your public transportation commuting expenses (e.g., vanpool, metro bus, and metro train).

PARKING

Employees enjoy free parking at Constitution Center for days spent in the office.

WELLNESS PROGRAM

The Wellness Program offers the following resources to help our employees in their wellness journey:

FHFA’s Life Cycle Program provides a $1,500 taxable distribution each fiscal year for various health and wellness related expenses.
Personal Wellness Time and day provides up to three hours per pay period for personal wellness activities and on an annual basis employees can also use a “Wellness Day.”
Headspace Wellness Service allows FHFA employees full access to the entire Headspace library via mobile app or web platform. The services features a variety of guided meditations and mindfulness exercises, providing unique resources to help reduce stress and build resilience.
C2 Fitness Center membership at FHFA headquarters and fitness center reimbursement for core team members with a duty station at Fannie Mae or Freddie Mac.
FHFA’s Nursing Mothers Program provides a supportive environment that is private, secure, and comfortable for nursing mothers returning to work after having a baby.

VACATION AND OTHER LEAVE

The federal leave program offers exceptional time-off benefits, including vacation leave, sick leave, Family Friendly Leave, Family Medical Leave, Paid Parental Leave, and ten (10) paid holidays per year. Executives earn 8 hours of vacation leave per pay period (26 days per year) and 4 hours of sick leave (13 days per year), regardless of length of federal service. The agency also offers a voluntary leave transfer program to assist employees who have a personal or family medical emergency and have exhausted available paid leave.

FLEXIBLE WORK SCHEDULES & TELEWORK

FHFA offers flexible work schedules and telework to ensure you maintain a safe, healthy, and productive work life balance. The work schedule program allows employees to complete their basic work requirement in less than 10 workdays per pay period, use gliding start times, and earn and use credit hours.

FLEXIBLE SPENDING ACCOUNT

The Flexible Spending Account Program provides pre-tax, employee-funded accounts to pay for medical expenses that are tax deductible as well as dependent care costs.

EMPLOYEE COUNSELING

The Employee Assistance Program (EAP) provides free confidential counseling services to you and your family members. Services include consultation, short-term problem solving, coaching, or crisis management. The EAP also offers access to legal and financial services and a comprehensive resource and referral program at no cost to you.

LEAVE

Employees accrue 13 days of paid annual leave (vacation) in the first year of employment. They earn additional annual leave as their tenure increases, up to a maximum of 26 days per year upon 15 years of Federal service.

Employees earn 13 days of paid sick leave each year. There is no ceiling on the amount of sick leave that may be carried over from year to year. Available sick leave can be used for personal illness; medical, optical, and dental appointments; care for a family member who is ill; bereavement purposes; and absences related to adopting a child. Federal employees can receive additional paid leave to serve as bone marrow or organ donors.

ALTERNATIVE WORK ARRANGEMENTS

Upon supervisory approval, employees may choose to work eight 9-hour days, one 8-hour day, and have one day off every two weeks. This is referred to as a 5/4/9 schedule.

Also upon approval, an employee may telework (work away from the job site). Whether an employee may telework will generally depend on the characteristics of a task or project, the scheduling arrangement, and other variables.

Page Last Updated: October 8, 2024