Article Excerpt: "...Do the members of Congress get full pay having served just one term in office..."
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..."
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...."
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..."
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..."
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..."
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..."
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..."
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..."
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..."
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..."
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...."
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..."
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..."
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..."
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...."
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..."
Article Excerpt: "...Who qualifies for Social Security, how big your Social Security checks can be, and other must-know Social Security rules..."
Article Excerpt: "... striking fact that wealthier people are living significantly longer than less wealthy people, and the gap appears to be widening..."
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..."
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..."
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..."
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...."
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...."
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..."
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..."
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..."
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..."
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..."
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...."
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..."
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..."
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..."
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..."
Article Excerpt: "...The maximum benefit depends on the age at which a worker retires. For a worker retiring this year at age ..."
Article Excerpt: "...Instead of making Social Security benefits taxable or not taxable, they’ve created a system in which a portion of your benefits may be taxable if you earn a certain amount of money. It’s a bit convoluted, but try to follow along. To determine if any of your benefits are taxable, you need to add..."
Article Excerpt: "... he also proposed a three-part plan to raise the Social Security retirement age, cut future benefits, and privatize much of the program. A similar privatization proposal ..."
Article Excerpt: "... do not count in the computation of the supplement. ..."
Article Excerpt: "...Using data on 223 metropolitan areas across the U.S., we identified the places with the cheapest living costs specifically for retirees. We placed particular emphasis on reasonable price tags for the two biggest retirement budget-busters, health care and housing, and we also looked at states' tax burdens on retirees. ..."