Federal Retirement News


Wednesday, April 23, 2014

Social Security’s 20 worst inequities

Calling out Social Security for its awful inequities

Article Excerpt: "...You can contribute to Social Security your entire life and get back less in benefits than someone who never worked and never contributed a penny to the system...."



Resource: www.pbs.org

Social Security, inequities within Social Security,

Monday, April 7, 2014

Are Social Security benefits taxable?

Are your Social Security benefits taxable?

Article Excerpt: "...If you’ve recently begun receiving Social Security benefits or plan to apply in the near future, you may be wondering this tax season: are Social Security benefits taxable?..."



Resource: www.oanow.com

Monday, March 24, 2014

Federal employee retirement backlog continues in an actual undergroud limestone cave

Deep underground, federal employees process paperwork by hand in a long-outdated, inefficient system

Article Excerpt: "...Here, inside the caverns of an old Pennsylvania limestone mine, there are 600 employees of the Office of Personnel Management. Their task is nothing top-secret. It is to process the retirement papers of the government’s own workers. But that system has a spectacular flaw..."



Resource: www.washingtonpost.com

Tuesday, March 18, 2014

Supporting entitlement cuts will cost you an election

Did Social Security Cost Democrats a Seat In Florida?

Article Excerpt: "...But Jolly had an easy comeback: He denied wanting to privatize Social Security, and fired back by noting that Sink voiced some support for the Simpson-Bowles debt-reduction plan, which included cuts to Social Security...."



Resource: www.nationaljournal.com

Social Security

Friday, March 7, 2014

Will politicians again attack retirees with a chained CPI threat?

Door left open for chained CPI comeback

Article Excerpt: "...Critics countered that the chained CPI doesn’t account for medical costs which make up a larger share of expenses for older people than for the population as a whole and would over time cost federal retirees thousands of dollars...."



Resource: www.federaltimes.com

chained CPI

Wednesday, March 5, 2014

How to maximize your Social Security

How to maximize your most valuable retirement asset

Article Excerpt: "...Most people aren't careless with the things they value the most. Surprisingly, one exception is how most people treat their most valuable retirement asset -- Social Security...."



Resource: www.cbsnews.com

Social Security,

Monday, March 3, 2014

Social Security rules to become familiar with

Don't Fall Into These Social Security Traps

Article Excerpt: "...Some of the Social Security rules can be frighteningly complex. Because it will likely represent a large portion of your retirement income, it's important to understand how the government program works...."



Resource: www.nasdaq.com

Social Security

Sunday, January 26, 2014

Ridiculously low social security pay and Medicare expenses

Seniors struggle with Social Security adjustments

Article Excerpt: "...the Medicare Part D "doughnut hole" -- the no-man's land in which beneficiaries pay the full cost for prescriptions after they have used up their basic benefit and before they reach an upper "catastrophic" mark when coverage resumes...."



Resource: www.post-gazette.com

Wednesday, January 22, 2014

Health care costs are well on their way to eating up half of the average Social Security check

Health Care Consumes Over a Third of Social Security Checks

Article Excerpt: "... Social Security benefits were never intended to go mostly toward medical bills. Yet today, even with Medicare (including the prescription drug coverage - Medicare Part D - which took effect in 2006), out-of-pocket health care costs are well on their way to eating up half of the average Social Security check of seniors and their surviving spouses. ..."



Resource: www.huffingtonpost.com

Thursday, January 2, 2014

Federal Employee and Postal Employee Buyouts Update 2014

Will a buyout be in your stocking?

Article Excerpt: "..."We keep hearing rumors of buyout ... but without any confirmation," a federal HR official said earlier this week. "It's almost like [the situation] with the SES bonuses, as if [the administration] doesn't want to talk about it." ..."



Resource: www.federalnewsradio.com

2014 Buyouts, 2014 USPS Buyouts, 2014 Federal Employee Buyouts,

Sunday, December 8, 2013

Will Federal employee retirement be damaged in budget talks?

Federal employee retirement could be affected as rivals prepare for the battle of the budget

Article Excerpt: "...The team in blue — the Democrats — say the federal workforce has already paid enough, over and over again...."



Resource: www.washingtonpost.com

Wednesday, December 4, 2013

When is the best time to draw Social Security?

When should you start cashing in on Social Security?

Article Excerpt: "...For example, at 62, you get 75% of your normal retirement benefit. At 66, you get 100%. At 70 it's 132%. Each year you wait from 62 on increases your benefits by about 8%...."



Resource: cnn.com

Social Security

Wednesday, November 27, 2013

Social Security Benefits Must Be Increased

End the retirement crisis. Increase Social Security benefits now.

Article Excerpt: "...There is a retirement crisis, and the only part of the solution that’s in government hands is Social Security benefits. If government really want to “promote the general welfare”..."



Resource: americablog.com

Sunday, November 24, 2013

Federal Retirement and Military Service

Crediting Military Service Toward Federal Retirement

Article Excerpt: "...If you are considering making a deposit for your active duty military time and want to find out how much you would owe, plus accrued interest, you’ll need to complete a copy of RI-20-97, Estimated Earnings During Military Service..."



Resource: /www.fedweek.com

Federal Retirement and Military Service

Thursday, November 21, 2013

GOP plan would end Federal Employee Retirement System for future federal employees

GOP plan would end defined-benefit pension for future feds

Article Excerpt: "...“If these lawmakers really were interested in having parity among public and private-sector employees, they would be encouraging more companies to offer pensions to their workers instead of trying to take them away from federal employees,” Cox added...."



Resource: www.washingtonpost.com

Federal Employees Retirement System (FERS), FERS Changes,

Tuesday, November 19, 2013

Hard Times: Hardship withdrawals from the Thrift Savings Plan set a record

TSP hardship withdrawals hit record high

Article Excerpt: "...Hardship withdrawals from the Thrift Savings Plan set a record last month, as thousands of participants tapped their retirement accounts..."



Resource: www.federaltimes.com

TSP withdrawals, TSP,

Wednesday, October 16, 2013

2014 COLA for Social Security recipients



Seniors to get small Social Security increase in 2014

2014 Social Security COLA
2014 Social Security COLA
Article Excerpt: "...Social Security benefits are expected to rise between 1.4% and 1.6% next year, according to the American Institute for Economic Research...."


Resource: cnn.com

Monday, September 9, 2013

Social Security pensions to remain solvent until 2033

The Future of Social Security

Article Excerpt: "...Social Security pensions are expected to remain solvent until 2033. This was unchanged from one year ago. The disability portion, however, is schedule to become insolvent in 2016...."



Resource: socialsecuritynewsgroup.blogspot.com

Friday, September 6, 2013

Postal executives to be offered early retirement

Postal Service Could Offer Early Retirement to Executives

Article Excerpt: "...The U.S. Postal Service wants to hold early retirement options to ranking executives - See more at: http://www.executivegov.com/2013/09/postal-service-could-offer-early-retirement-to-executives/#sthash.eqA4N30R.dpuf..."



Resource: www.executivegov.com

Monday, July 15, 2013

Tax Friendly States for Retirees

State-by-State Guide to Taxes on Retirees

Article Excerpt: "...comprehensive guide to taxes on retirement income, property, and purchases, as well as special tax breaks for seniors, in every state...."



Resource: www.kiplinger.com

Sunday, July 14, 2013

TSP stock funds down in June 2013

Down Month for TSP Stock Investors

Article Excerpt: "...Investors in the Thrift Savings Plan (TSP) would certainly like to see their investments go up each month. Unfortunately, that is not how the stock market works...."



Resource: www.fedsmith.com

Tuesday, July 2, 2013

Social Security and the Special retirement supplement

Special retirement supplement and Social Security

Article Excerpt: "...I will receive the special retirement supplement. Until I turn 62, I will not be (possibly) paying into Social Security, so does that reduce the amount of Social Security I will receive..."



Resource: federaltimes.com

Special Retirement Supplement, Social Security, FERS,

Monday, July 1, 2013

Roadblocks to FERS and CSRS Federal Disability Retirement

FERS and CSRS Federal Disability Retirement: Common Roadblocks

Article Excerpt: "...What are the roadblocks and obstacles for a Federal Disability Retirement application, filed through the U.S. Office of Personnel Management, whether under FERS or CSRS? ..."



Resource: www.fedsmith.com

Federal Disability Retirement, CSRS, FERS, Disability Retirement application,

Sunday, June 30, 2013

The truth about the Social Security agency’s bottom line

10 things Social Security won’t tell you

Article Excerpt: "...About a third of workers in their 50s expect Social Security benefits to be their primary source of income in retirement, according to the Transamerica Center for Retirement Studies. ..."



Resource: www.marketwatch.com

Sunday, April 28, 2013

Federal unions attempt to help furloughed federal workers by seeking TSP loan options

Unions want more TSP loan options for furloughed feds

Article Excerpt: "...Employee unions are pressing the Federal Retirement Thrift Investment Board to give employees more options to borrow against their Thrift Savings Plan accounts while employees remain vulnerable to furloughs...."



Resource: www.federaltimes.com

Sunday, April 21, 2013

Budget again targets federal employee retirements

Obama’s Budget Targets COLAs, Federal Retirement Benefits

Article Excerpt: "...the result would be lower COLAs over time for federal retirees and Social Security beneficiaries...."



Resource: www.govexec.com

Monday, March 18, 2013

Start Social Security early or not?

Early dip into Social Security has pros, cons

Article Excerpt: "...Starting Social Security early comes with a penalty. Suppose that at age 66 you’re scheduled to receive $1,000 in monthly benefits. If you were to start drawing them at 62, your monthly benefit would be reduced by 25 percent, to $750, where it would remain as long as you draw benefits...."



Resource: www.spokesman.com

Wednesday, March 13, 2013

Saving Social Security: A plan that makes sense

Lynch Calls For Raising Social Security Tax Cap

Article Excerpt: "...U.S. Rep. and Democratic senatorial candidate Stephen Lynch says the income cap on Social Security contributions should be raised at a faster pace to help keep the retirement system solvent...."



Resource: www.wbur.org

Social Security Tax Cap

Saturday, March 2, 2013

What are your retirement options?

Saving for Retirement: What are My Options?

Article Excerpt: "...TSP, IRA, 401(k), Roth TSP: what do all these acronyms mean and what do they have to do with my money..."



Resource: www.dodlive.mil

Wednesday, February 6, 2013

The face of social security

50-Somethings Face a Grim Retirement

Article Excerpt: "...What will the next wave of retirement look like? In USA Today, Duncan Black depicts a grim future for today's 50-somethings. The great borrowing..."



Resource: www.thedailybeast.com

Tuesday, January 22, 2013

Federal employee retirement claims fall in December of 2012

December Saw Lowest Federal Worker Retirement Filings in 2012

Article Excerpt: "...January 2013 should see employees file 21,000 claims, according to OPM projections, with a target of 11,500 claims being processed for that month...."



Resource: www.executivegov.com

Saturday, January 19, 2013

Federal Employee Dollars Saves America Again

Thrift Savings Plan used for debt ceiling relief

Article Excerpt: "...The other TSP funds, consisting of stock index funds, a bond index fund and target-date funds that mix investments in those other funds, are not affected. The Treasury earlier used a separate maneuver involving the civil service retirement fund which it similarly said would have no impact on employees or retirees...."



Resource: www.washingtonpost.com

Friday, January 11, 2013

TSP may delay issuing new securities for the G fund

TSP Director Confirms Potential Deferral of G Fund Payments

Article Excerpt: "...TSP Executive Director Greg Long said in a recent letter to TSP participants that in the event of hitting the debt ceiling, it is possible that the government will delay issuing new securities for the G fund to avoid increasing the federal debt...."



Resource: www.fedsmith.com

G Fund

Thursday, December 27, 2012

Retirement Ideas for the Federal Employee

Retirement Ideas for Federal Workers

Article Excerpt: "...you’ll find several retirement ideas for the next phase of your life. Whether you want to add to that generous pension or pick up a new hobby, you’ll find plenty of ideas in this article...."



Resource: www.fedsmith.com

Saturday, December 8, 2012

COLA index change will have big impact on retirement incomes

Small Changes in the COLA Index Can Have a Major Impact on Your Retirement Plan

Article Excerpt: "...Currently Social Security payments increase with the rate of the Cost Of Living Adjustment (COLA) index. The COLA index used for Social Security is equal to the percentage increase in the consumer price index for urban wage earners..."



Resource: www.minyanville.com

Thursday, December 6, 2012

Railroad Retirement Board scammed by LIRR employees

LIRR retirees plead guilty to $1 billion pension scam

Article Excerpt: "...Both agreed to pay back the money they received in fraudulent disability payments from the federal Railroad Retirement Board. Reiser agreed to make restitution of $226,000; Pulsonetti agreed to repay $176,000...."



Resource: www.nydailynews.com

Sunday, December 2, 2012

Equities: Retirement income potential is greater (but the risk doesn't have to be)

Equities: Still Your Best Bet for Retirement

Article Excerpt: "...slowly piecing together a portfolio to carry them into retirement — likely would have admitted to getting a little bit worried there. After all, that’s what we’ve been conditioned to do. 2008 put a scare into investors we’ll not soon forget, so what few..."



Resource: investorplace.com

Saturday, December 1, 2012

Federal retirees, let's take a look at the S&P 500

Retired Investors: Let's Take A Closer Look At The S&P 500 Index Fund

Article Excerpt: "...the retirement investment program known as FERS. Under FERS, employees had limited investment choices. Each was connected to an index fund. The C fund tracked the S&P 500. The S Fund tracked the small cap index. The F fund tracked the Barclays Aggregate Bond Fund. Finally, the fund offered a fixed income option -- the G fund -- which invested in Government Securities...."



Resource: seekingalpha.com

Monday, November 26, 2012

Retirng Alaska Federal Employees May Cause Issues

Federal Workforce in Alaska Faces Retirement Crisis

Article Excerpt: "...“I'm sure they can fill some of those jobs, there's no doubt about it, the question is: are they going to fill most of them, are they going to fill half of them? And I don't know,“ Fried said. “The fewer they fill, those are -- could be -- potential lost jobs to the economy.”..."



Resource: ktuu.com

Tuesday, November 13, 2012

Some federal lawmakers get super-pensions

1 in 6 retired lawmakers get six-figure pensions

Article Excerpt: "...These super-pensions are far more common for retired lawmakers than federal employees...."



Resource: www.federaltimes.com