Benefits
The Millennium Challenge Corporation offers a workplace that is respectful, fair, and values diversity. Our comprehensive benefits are generous, helping individuals to reach their individual goals by supporting professional growth, health, well-being, and personal needs.Federal Employee Health Benefits (FEHB)
The Federal Employee Health Benefits (FEHB) Program can help you and your family meet your health care needs. Employees can choose from a wide selection of health insurance plans for themselves and their families. Unlike a growing number of private-sector workers, Federal employees, under certain conditions, can continue their health insurance into retirement with the same Government contributions that active (that is, unretired) employees receive. MCC employees and their families may choose from the following types of health insurance plans:- Fee-for-Service
- High-Deductible
- Health Maintenance Organizations (HMOs)
- Preferred Provider Organizations (PPOs)
Eligible family members include spouses and unmarried children under age 26 (including recognized natural children, adopted children, stepchildren and foster children, if living with the employee in a regular parent-child relationship); and children age 26 years and older who are incapable of self-support (due to mental or physical disability existing before age 26).
Federal Employee Dental and Vision Benefits (FEDVIP)
MCC employees and their eligible family members may enroll ina FEDVIP dental and/or vision plan. FEDVIP offers regional plans as well as nationwide plans with international coverage; most plans include both high and standard options. Eligible employees may enroll in either a self or family plan coverage option.
Eligible family members include spouses and unmarried children under age 22 (including recognized natural children, adopted children, stepchildren and foster children, if living with the employee in a regular parent-child relationship); and children age 22 years and older who are incapable of self-support (due to mental or physical disability existing before age 22).
Federal Employees’ Group Life Insurance Program (FEGLI)
All employees are automatically enrolled in the Federal Employees’ Group Life Insurance (FEGLI) Program unless they opt out of the coverage. The basic coverage equals annual pay (rounded to the next $1,000) plus $2,000. Employees pay two-thirds of the cost of basic life coverage and the Government pays one-third. Additional life insurance coverage for employees and their families may be purchased.Federal Employee Retirement System (FERS)
Congress created the Federal Employees Retirement System (FERS) in 1986, and it became effective on January 1, 1987. Since that time, new Federal civilian employees who have retirement coverage are covered by FERS. The plan consists of three tiers:- The Basic Benefit Plan establishes an annuity based on an employee’s age, years of Federal service at retirement, and average highest salary over a consecutive three-year period. Disability and survivor benefits are also provided.
- Social Security pays benefits at retirement based on an employee’s age and earnings from Social Security-covered wages. Disability and survivor benefits are also provided.
- The Thrift Savings Plan (TSP) allows employees to save and invest part of their income for retirement, receive matching agency contributions, and reduce their current taxes. The plan is similar to 401(k) plans offered by private employers. Employees participating in the TSP can choose among several investment plans and funds.
- Disability
- Early retirement
- Voluntary retirement
- Deferred retirement
Thrift Savings Plan (TSP)
In addition to your annuity benefits, you may also save for your retirement by participating in the Thrift Savings Plan (TSP). TSP is a retirement savings and investment plan for Federal employees. It offers the same types of savings and tax benefits that many private corporations offer their employees under 401(k) plans. The TSP provides employees with complete investment flexibility to manage their retirement portfolio according to personal need.
Contributions to the TSP are made on a biweekly basis and employees may contribute up to the annual limit set by the IRS each year. As an MCC employee, you are automatically enrolled in the TSP to receive a 5 percent matching of your basic pay from the date of hire. The plan offers you several investment options, including a Roth account and lifestyle funds. Funds from qualified plans of previous employers can be rolled over to your Thrift Savings Plan account.
Federal Employees Flexible Spending Account Program (FSAFEDS)
The Federal Employees Flexible Spending Account (FSAFEDS) Program allows employees to pay out-of-pocket health and dependent care expenses with tax-free dollars. Through the FSAFEDS program, employees are able to use pre-tax dollars to pay for eligible medical, dental, and vision care expenses that are not covered by your health care plan. Employees may also use pre-tax dollars to pay for eligible childcare or adult dependent care expenses for services necessary to allow for the care of loved ones while you work. Since the money allotted for flexible spending accounts are not subject to payroll taxes, you save an average of 30 percent throughout the year on eligible health and dependent care expenses for you and your family.Other Benefits Offered:
Work/Life Benefits
Additionally, MCC provides its employees with an array of services and programs to enable a healthy work-life balance, to include:Flexible Work Schedules
To help balance work, family, and personal needs, MCC offers a variety of alternative work schedule arrangements, with supervisor approval. Telework, compressed work schedules, glide time, and voluntary part-time employment are available options. However, because of the nature of some MCC positions, not all employees may be eligible to take advantage of these flexibilities.Transportation Subsidy
Federal employees committed to using mass transportation for their round-trip commute are eligible to receive federal transit benefits. The Mass Transportation and Vanpool Transportation Fringe Benefit Program allows Federal employees to receive transit passes in amounts approximately equal to employee commuting costs, not to exceed the maximum level allowed by law. In addition, employees who drive to work can apply for a free-parking option at the MCC headquarters location.Employee Assistance Program
MCC offers access to free licensed counseling and other comprehensive resources to help employees resolve personal problems that may adversely impact work performance, conduct, health, and overall well-being. Services are confidential and available 24 hours a day, 365 days a year.Emergency Backup Dependent Care
The Emergency Backup Dependent Care Program is designed to help secure and pay for backup care when your regular care plans are disrupted.Career Development
MCC strives to create an environment in which all employees can be effective and continue to grow in their careers. MCC offers extensive opportunities for training and development, including internal and external training to help our employees increase their knowledge and acquire new skills.Leave
Sick Leave
Full time employees accrue four hours of sick leave for each full bi-weekly pay period, for a total of 104 hours or 13 days of sick leave per year. Sick leave balances may be carried over from year to year with no limit.Annual Leave
Employees accrue annual (vacation) leave on a graduated basis according to their total years of federal service. A limited amount of excess annual leave may be carried over to the following year. Full time employees earn annual leave as follows:| Years of Service | Amount of Annual Leave Earned Each Full Bi-Weekly Pay Period |
|---|---|
| up to 3 | 4 hours (a total of 104 hours or 13 days per year) |
| 3 to 15 | 6 hours—except that the accrual rate for the last full bi-weekly pay period in the calendar year is 10 hours (total of 160 hours or 20 days per year) |
| 15 and over | 8 hours (a total of 208 hours or 26 days per year) |
Additional Leave Programs:
- Voluntary Leave Transfer Program (VLTP)
- Family Medical Leave Act (FMLA)
- MCC Leave Bank
On-site benefits:
- on-site fitness center that encourages a healthy lifestyle through exercise
- cafes throughout the MCC workspace
- lactation rooms for nursing mothers
- bicycle parking racks
- lifestyle seminars on finance, health, and life transitions that assist employees with major life decisions