Federal Retirement News


Wednesday, October 4, 2017

Will politicians steal part of your retirement from you to give the wealthy more tax breaks? House Republicans want to

Senate Budget Plan Silent on Potential Retirement Changes

Article Excerpt: "... the House version ordered its counterpart committee to produce $32 billion in savings over 10 years through steps such as raising the required retirement contribution and eliminating the “special retirement supplement” paid to those who retire under FERS before age 62 until they reach that age and become eligible for Social Security..."



Resource: www.fedweek.com



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Thursday, September 28, 2017

How Working in Retirement Affects Social Security Benefits

How Working in Retirement Affects Social Security Benefits

Article Excerpt: "...A paycheck can temporarily reduce Social Security payments if you're drawing benefits before your full retirement age..."



Resource: www.kiplinger.com

Social Security,

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Monday, September 25, 2017

Best date to retire? How about never?

Best date to retire? How about never?

Article Excerpt: "...With Congress and the White House proposing major changes in the federal retirement program, many retirement-eligible workers are considering retiring soon (like this month or next) in order to beat the changes. The problem is that nobody knows the effective dates of the proposals and which of them, if any, might be approved in what’s left of the legislative year..."



Resource: federalnewsradio.com



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Friday, September 22, 2017

Will the Equifax data breach impact your Social Security benefits?

Will the Equifax data breach impact your Social Security benefits?

Article Excerpt: "...those same unscrupulous individuals might also attempt to steal countless amounts of Social Security income from otherwise unsuspecting workers and seniors. Let's talk about those seniors who are currently receiving benefits. If criminals get hold of their personal information, there's nothing to stop them from redirecting payments toward a new bank account..."



Resource: www.usatoday.com



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Tuesday, September 12, 2017

The TSP and Federal Employees

The TSP and Federal Employees

Article Excerpt: "...How do your investing habits compare with other federal employees and retirees? How long have you been investing in the TSP? How often do you trade? How do you react to significant swings in stock prices? Please take this short survey to share your feedback..."



Resource: www.fedsmith.com



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Monday, September 4, 2017

Monday, August 14, 2017

Congressional Pensions Update

Congressional Pensions Update

Article Excerpt: "...Do the members of Congress get full pay having served just one term in office..."



Resource: www.factcheck.org

Congressional Pensions

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Tuesday, August 1, 2017

SEC accuses four Georgia men of defrauding federal employees

SEC accuses four Georgia men of defrauding federal employees

Article Excerpt: "...In a civil lawsuit, the SEC said the brokers targeted federal employees who were near retirement and held large sums in Thrift Savings Plan (TSP) retirement accounts. The lawsuit said the brokers misled the workers about fees and other significant details of the investments, including that the investments were privately issued and weren’t endorsed by or affiliated with TSP..."



Resource: investigations.blog.myajc.com



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Tuesday, June 27, 2017

Social Security's five top new blog posts

Social Security's five top new blog posts

Article Excerpt: "...Social Security’s blog is a go-to source for news and resources. That’s why we named it Social Security Matters — it matters to everyone even if you don’t think you directly benefit from Social Security benefits today...."



Resource: www.logandaily.com



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Thursday, April 6, 2017

Can you ever afford to retire?

Can you ever afford to retire?

Article Excerpt: "...Many companies that once offered generous defined benefit plans — often at no cost to the employees — have dropped them. Instead, workers must finance their retirement with Social Security benefits, investments in their 401(k), savings and other investments. When Congress set up the TSP, congressional experts predicted that it would provide anywhere from one-third to one-half of all the money feds would have in retirement..."



Resource: federalnewsradio.com



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Wednesday, April 5, 2017

Congress Must Stop Raiding Social Security

Congress Must Stop Raiding Social Security

Article Excerpt: "...But instead, the majority of senators thought it would be easier to steal $150 billion from the Social Security trust fund, thus moving up the date that that system is scheduled to go bankrupt, and provide a temporary patch to SSDI instead. SSDI spending has grown more than six-fold in the last 40 years, and in the last 10 years alone we’ve added almost 3 million more people to the SSDI payroll. Inflation alone cannot account for this growth rate, and with the advances made in medical technology, enrollment rates should be going down..."



Resource: nationalinterest.org



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How to Claim Social Security Survivor Benefits

How to Claim Social Security Survivor Benefits

Article Excerpt: "...If someone who has worked a few years passes away, their family may be able to collect up to 180% of their Social Security benefits..."



Resource: www.fool.com

Social Security survivor benefits

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Monday, March 6, 2017

How To Pick Your FERS Retirement Date Like A Pro

How To Pick Your FERS Retirement Date Like A Pro

Article Excerpt: "...the “general rule of thumb” in FERS is to retire on the last day of the month—no matter what day of the week!...Normally, you must be at least 59 ½ year old to take monies out of your retirement savings account (like TSP..."



Resource: www.fedsmith.com



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Tuesday, January 17, 2017

3 Social Security Rules You Should Know By Heart

3 Social Security Rules You Should Know By Heart

Article Excerpt: "... Social Security's book of rules can -- at times -- read like a copy of War & Peace. But you shouldn't let that intimidate you. In the end, I believe there are three simple rules that every citizen of the United States needs to know by heart..."



Resource: madison.com



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Friday, January 13, 2017

6 Possible Civil Service Changes in the 115th Congress

6 Possible Civil Service Changes in the 115th Congress

Article Excerpt: "...There have been multiple proposals in recent years to eliminate the defined benefit portion of FERS and move new hires (not existing employees) to a plan based entirely on Social Security and the Thrift Savings Plan..."



Resource: www.fedsmith.com



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Monday, January 9, 2017

Aren't you dead yet? Should Social Security's retirement age be raised to 69?

Should Social Security's retirement age be raised to 69?

Article Excerpt: "...That's three or more years later than what's normally considered retirement age, although "normal" is a shifting standard. It's also the age New Jersey Gov. Chris Christie proposed last year when he was running for president. Former Florida Gov. Jeb Bush, also a candidate, also suggested a shift in the range of 68 to 70, though with few specific details..."



Resource:



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Monday, October 24, 2016

Social Security Benefit Formula Robs Older Workers

Social Security Benefit Formula Robs Older Workers

Article Excerpt: "...If you haven’t already done so, set up online access to your earnings history so you can spot errors. Once you’ve got the account, you can download your history as an XML file and import it into a spreadsheet..."



Resource: www.forbes.com



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Wednesday, September 28, 2016

Where do the presidential candidates stand on Social Security?

Article Excerpt: "...The candidates have said little to acknowledge the issue, even though it’s a main driver of the government’s long-term budget problems...."



Resource: www.pbs.org



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Friday, September 9, 2016

Jack Bogle’s 5 Simple Rules for Investing in Stocks

Jack Bogle’s 5 Simple Rules for Investing in Stocks

Article Excerpt: "...Last week, 200 “Bogleheads” met for an annual gathering near Philadelphia, PA to hear the legendary founder of Vanguard, the world’s largest fund company, talk about investing. The Bogleheads is a not-for-profit organization in which anyone can post financial questions (at bogleheads.org) and then hundreds of volunteer members (Bogleheads) who are seasoned investors respond with advice — generally without a profit motive. To ask a question, you must join, but you can probably find the answer to your question by using the search engine on the site without joining..."



Resource: aarp.org

Jack Bogle, Investing in Stocks, Bogleheads,

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Thursday, July 14, 2016

Federal Retirees Need To Tighten Belts While Current Employees Expect To See Pay Increases

Federal Retirees Need To Tighten Belts While Current Employees Expect To See Pay Increases

Article Excerpt: "...Later this fall, the Federal Employees Health Benefit Program (FEHBP) will announce health insurance premium increases for 2017. It is expected that premiums could jump due to medical inflation, which is currently triple the overall inflation rate. Total health care spending growth is expected to average 5.8 percent annually over 2015-2025, according to a report just published by the Centers for Medicare & Medicaid Services’ (CMS) Office of the Actuary (OACT). All of these issues, including Medicare Part B premium increases..."



Resource: www.fedsmith.com



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Thursday, July 7, 2016

A Retirement-Savings Tip for Clients Who Are Federal Employees

A Retirement-Savings Tip for Clients Who Are Federal Employees

Article Excerpt: "...Those who have worked for the government since before 1984 are covered by the Civil Service Retirement System, or CSRS. This system grants enrollees a pension, but it also offers the little-known VCP. With a VCP, employees can set aside up to 10% of their lifetime earnings in a fund designed to operate as a supplement to their pension. Contributions are made with after-tax dollars, and tax on the earnings is deferred..."



Resource: www.wsj.com



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Tuesday, June 14, 2016

The Old D.I.Y. Approach to Federal Retirement: Will it Work for FERS Employees?

The Old D.I.Y. Approach to Federal Retirement: Will it Work for FERS Employees?

Article Excerpt: "...The number of FERS employees approaching retirement within the next 24 months is growing quickly. Many of them intend to implement the “Do it Yourself” (DIY) technique to retirement planning...."



Resource: www.fedsmith.com

FERS vs CSRS,

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Thursday, May 19, 2016

Here’s How to Help More Americans Boost Their Social Security Benefits

Here’s How to Help More Americans Boost Their Social Security Benefits

Article Excerpt: "...age 62, the earliest claiming age. That’s a costly move. Benefits rise by 7% to 8% a year until maxing out at age 70—only 2% of workers wait that long to file..."



Resource: time.com



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Friday, April 15, 2016

5 Social Security Rules Every Retiree Should Know

5 Social Security Rules Every Retiree Should Know

Article Excerpt: "...Who qualifies for Social Security, how big your Social Security checks can be, and other must-know Social Security rules..."



Resource: www.fool.com



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How the Life-Expectancy Gap for Rich and Poor Skews Social Security

How the Life-Expectancy Gap for Rich and Poor Skews Social Security

Article Excerpt: "... striking fact that wealthier people are living significantly longer than less wealthy people, and the gap appears to be widening..."



Resource: blogs.wsj.com



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Monday, April 11, 2016

Social Security 'Life Expectancy Calculator'

Retirement & Survivors Benefits: Life Expectancy Calculator

Article Excerpt: "...This calculator will show you the average number of additional years a person can expect to live, based only on the gender and date of birth you enter..."



Resource: www.ssa.gov

Life Expectancy Calculator

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Millions of Americans are about to lose Social Security benefit

Time’s up: Millions of Americans are about to lose Social Security benefits

Article Excerpt: "...the last day folks who qualify can take full advantage of the file-and-suspend Social Security claiming strategy. After April 29, 2016, file-and-suspend becomes a thing of the past. Why so? The Bipartisan Budget Act of 2015..."



Resource: www.marketwatch.com

file-and-suspend Social Security claiming strategy

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Can I Claim Social Security Spousal Benefits?

Can I Claim Social Security Spousal Benefits?

Article Excerpt: "...The divorced spouse must have been married to the worker for at least 10 years in order to qualify. In addition, the divorced spouse must not be remarried. However, the requirement that the worker have filed for Social Security retirement benefits does not apply to divorced spouses as long as the worker is eligible to file for them and as long as the couple has been divorced for at least two years..."



Resource: www.fool.com



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Saturday, April 9, 2016

Social Security: How Much Can I Earn and Still Collect?

Social Security: How Much Can I Earn and Still Collect?

Article Excerpt: "...Three special perks of working while collecting Social Security benefits Additionally, working while collecting benefits could have its perks, according to the SSA. First, benefits deducted prior to hitting your FRA because you've earned too much in the eyes of the SSA will actually boost your benefits once you surpass your FRA...."



Resource: www.fool.com



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Sunday, January 24, 2016

Social Security Q&A: Are Lump Sum Payments Really Going Away?

Social Security Q&A: Are Lump Sum Payments Really Going Away?

Article Excerpt: "...My belief has been that Social Security, due to the new law, would tell him to get lost. But Alan thinks they would pay him all his suspended benefits in a lump sum, but only from the time he first filed for benefits — that is, they would give him back benefits from 66 and a half and not from age 66; they would not include benefits that were retroactive to before he first filed...."



Resource: www.forbes.com



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Monday, December 28, 2015

Your 2016 Guide to Social Security Benefits

Your 2016 Guide to Social Security Benefits

Article Excerpt: "...Here's what you need to know about Social Security in 2016, whether you're about to retire, or are still decades away..."



Resource: www.fool.com

Social Security Benefits

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Friday, December 18, 2015

Modifying A Social Security Filing Strategy After The Recent Rule Changes

Modifying A Social Security Filing Strategy After The Recent Rule Changes

Article Excerpt: "...After the rule change, spousal benefits will only be payable if the first person is actually receiving the benefit. Suspending will result in spousal benefits being suspended as well. - See more at: http://www.fedsmith.com/2015/12/14/modifying-a-social-security-filing-strategy-after-the-recent-rule-changes/#sthash.lyxMR9RK.dpuf..."



Resource: www.fedsmith.com



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Social Security claiming strategies for married couples

Social Security claiming strategies for married couples

Article Excerpt: "...Another strategy that can be used to increase household income for retirees is to have one spouse file for spousal benefits first, then switch to his or her own higher retirement benefit later..."



Resource: www.thespectrum.com



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2016 Budget: Favoring Corporate Welfare, Congress Screws Lower Middle Class and Retirees Then Takes Vacation AGAIN

Article Excerpt: "...succeeded in fending off numerous policy amendments that Republicans had sought to attach to the spending bill, including efforts to block environmental and labor rules...bill is even referred to as a Christmas tree bill because special interests get special presents... jeopardize retirement security, Medicare and Social Security, because those so-called entitlements are next up on the chopping block..."



Resource: www.nytimes.com

Congress, Republicans, Democrats, 2016 Budget Deal, Corporate Welfare, anti-labor deals, Social Security, Medicare, retirement security,

Monday, November 30, 2015

Want your full retirement benefits sooner? Prepare early

Want your full retirement benefits sooner? Prepare early, personnel agency tells federal employees.

Article Excerpt: "...“We advise soon-to-be retirees to have at least three months of savings on which to live while their claim is being processed,” National Active and Retired Federal Employees Association legislative director Jessica Klement said. NARFE also advises employees to prepare early and make sure their applications are complete and include all needed documentation, she said..."



Resource: www.washingtonpost.com

Retirement Planning,

Monday, November 23, 2015

3 Reasons Women Are Better at Retirement Planning Than Men

3 Reasons Women Are Better at Retirement Planning Than Men

Article Excerpt: "... when it comes to your own retirement-planning efforts, it really doesn’t much matter how men and women stack up against each other. What matters is what you do—specifically, whether you participate in a 401(k) or similar plan if one’s available; whether you save enough to give yourself a shot at building an adequate nest egg; and whether you invest your savings in a diversified portfolio with an emphasis on growth...."



Resource: time.com

Wednesday, October 28, 2015

File-and-suspend and other Social Security strategies clipped

Congress patches Social Security, Medicare

Article Excerpt: "...File-and-suspend and other Social Security strategies clipped. Closes some loopholes in Social Security's rules about deemed filing, dual entitlement and benefit suspension in order to prevent individuals from obtaining larger benefits than Congress intended. The new rules affecting dual entitlement affect people who turn 62 after 2015. Rules eliminating benefit suspension will take effect 6 months after the new law is approved..."



Resource: www.bankrate.co

filing a restricted application (Social Security), file-and-suspend (Social Security),

Monday, October 26, 2015

The best states for an early retirement

The best states for an early retirement

Article Excerpt: "...considered sales tax rates, property tax rates and living costs such as health insurance and housing. Click ahead for a look at the top states for an early retirement..."



Resource: www.cbsnews.com

Best States to Retire Early,

Sunday, October 25, 2015

No Social Security raise as prices climb: Data backs local seniors’ worries

No Social Security raise as prices climb: Data backs local seniors’ worries

Article Excerpt: "...“I know my costs have gone up,” she says. Rent on her apartment, which eats up half her income, increased this year. So have her grocery bills. And she expects her utilities to go up next year..."



Resource: www.seattletimes.com

2015 Social Security COLA, COLA,

Wednesday, April 8, 2015

Military Service (Bought) and the FERS Special Retirement Supplement (SRS)

Am I Eligible for the Special Retirement Supplement?

Article Excerpt: "... is designed to replace the portion of an age 62 Social Security benefit that is due to civilian employment under the FERS system (military time that has been bought for FERS retirement..."



Resource: fedsmith.com