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We offer a workplace that is respectful, fair, and values diversity. Our comprehensive benefits are generous - helping you to reach your individual goals by supporting your professional growth, health, well-being, and your personal needs.

Our employees enjoy all the standard federal benefits, plus additional agency benefits. An Overview of FHFA's Benefits for Fiscal Year 2023 provides a summary of benefits for the current fiscal year.

Our benefits package includes:

Health Benefits

Employees can choose from a wide selection of health insurance plans for themselves and their families. Currently, the Federal Government pays on average 72 percent of the cost of coverage.  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.  As a benefit for its active employees, FHFA covers on average an additional 18 percent of their cost of coverage.  FHFA employees and their families may choose from the following types of plans:

  • Fee-for-service

  • Health maintenance organizations (HMOs)

  • Consumer-driven

  • High-deductible

  • Preferred provider

Dental and Vision Benefits

FHFA offers comprehensive dental and vision benefits to eligible Federal employees and their eligible family members (including domestic partners).  FHFA covers 100 percent of the premium.

Retirement Plan

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.

Employees who have previous Federal service and were hired by a Federal agency prior to January 1, 1984, may be covered by the Civil Service Retirement System (CSRS) or CSRS Offset.

FHFA 401k Plan

In addition to your retirement plan, you may also save for your retirement by participating in FHFA’s 401k Plan. The plan allows you to save on a pre-tax basis. 

FHFA provides a 100 percent employer matching contribution of up to 3 percent of your salary that you contribute. The plan offers you several investment options.  Funds from qualified plans of previous employers can be rolled over to your 401k account.

Life Insurance

All employees are automatically enrolled in the Federal Employees’ Group Life Insurance Program (FEGLI) 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.

Transportation Subsidy

FHFA offers a monthly subsidy to employees who commute to work on public transportation (Metro, VRE, Marc, MTA, Commuter Bus, and vanpools).  Employees who do not commute via public transportation may apply for free parking at the building (headquarters only).

Flexible Spending Account

Flexible spending accounts allow employees to pay out-of-pocket health and dependent care expenses with tax-free dollars.  Eligible employees may contribute up to $5,000 each year for dependent care and $2,500 for health.


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.

Reimbursements and Stipends

  • A life cycle payment is provided to eligible employees each year to cover various health and wellness expenses.

  • Travel stipends are provided to employees who travel over 50 nights per fiscal year.

  • Professional fees/licenses and professional liability insurance may be reimbursed.

  • Gym fee reimbursements for employees at the Fannie Mae and Freddie Mac locations.

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.

Other Benefits

FHFA also provides these on-site benefits:

  • fitness center that encourages a healthy lifestyle through exercise,

  • health unit with a registered nurse to assist with urgent healthcare needs,

  • a convenient cafeteria offering delicious and health conscious meals,

  • lifestyle seminars on finance, health, and life transitions that assist employees with major life decisions.​

Page Last Updated: May 24, 2023

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