Federal Reserve Updates Employee Personnel Records Privacy System
Published Date: 1/24/2025
Notice
Summary
The Federal Reserve is updating its personnel records system to better manage employee info and benefits. If you work there or are involved, you can comment on these changes until February 24, 2025. No new costs are expected, and the update kicks in right after the comment period unless feedback says otherwise.
Analyzed Economic Effects
4 provisions identified: 0 benefits, 4 costs, 0 mixed.
More people covered by Fed records
The Federal Reserve's personnel record system will explicitly include past and present employees of the Board and the Federal Reserve System, their beneficiaries, dependents, survivor annuitants, and emergency contacts, as well as applicants and contract workers. This change takes effect February 24, 2025.
New types of personal data collected
The system will collect additional personal data including prior federal service, military service and status, relatives at the Board, passport and visa information, time and attendance tracking, and gender, gender identity, and personal pronouns. It also records beneficiaries' biographical data (including Social Security number), marital or disability status, contact information, and other benefits information. Records will be retained for periods up to 129 years where applicable.
Broader disclosure routine uses allowed
The Board updated routine uses to permit disclosures for adjudicating retirement, thrift, insurance, unemployment, or health and welfare benefit claims and to agencies with governing authority for analytical studies or audits. The SORN also lists many specific disclosure recipients, including OPM, Department of Labor, Social Security Administration, Department of Defense, prospective nonfederal employers (for tenure/employment verification), labor organizations, foreign governments for clearance, and the Office of Child Support Enforcement.
Records stored by outside suppliers
Some system records will be stored by outside suppliers: Workday, Inc. (headquarters at 6110 Stoneridge Mall Road, Pleasanton, CA 94588) and the Board's primary benefits provider Alight (4 Overlook Point #4OP, Lincolnshire, IL 60069), in addition to the Board's central offices in Washington, DC.
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Key Dates
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