A news and educational resource pooling excerpts from various news and information sources from the web for the Federal Retiree.
Article Excerpt: "...Social Security recipients will see a 2.5 percent increase in their monthly checks next year, the federal government announced Thursday. It’s a smaller hike than in recent years..."
Article Excerpt: "...The average monthly annuity payment for a Federal Employees' Retirement System (FERS) retiree in 2023 is $2,126. This does not include income from Social Security or the Thrift Savings Plan (TSP). FERS benefits are calculated by multiplying a retiree's "high-3" average salary by their years and months of service. If a retiree was at least 62 years old when they separated and had at least 20 years of service, their annuity is 1.1% of their "high-3" average salary. ..."
Article Excerpt: "...The House is on the cusp of taking a major step toward the elimination of the Windfall Elimination Provision and the Government Pension Offset.
While finally putting a knife in the heart of the WEP/GPO still will take an act of the Senate, congressional support may be coming at the perfect time. ..."
Article Excerpt: "...“The premium increases are due to the impact of price increases by providers and suppliers, increased utilization of certain prescription drugs and behavioral health spending,” OPM said. “Industry-wide cost pressures affect FEHB and PSHB rates similarly.” In dollars, FEHB enrollees will begin paying an average of $26.10 more toward their biweekly health premiums in 2025. ..."
Article Excerpt: "...For many retirees, it doesn't get much better than relaxing on the beach and enjoying the sunshine. Retiring in Hawaii, then, could be a dream come true for many people. As with any state, though, there are advantages and disadvantages to calling Hawaii home. While it can be an incredibly costly place to retire, there are plenty of perks to starting your next chapter in life in The Aloha State. ..."
Article Excerpt: "...This retirement surge was “fairly disruptive” in terms of economists’ views about the true size and health of the U.S. labor force, Bostic said. It also sparked big questions about whether any of those people who left the workforce earlier than expected would want to (or need to) rejoin the labor force in the future. “We have been very closely watching the situation and wondering whether labor supply will rebound to its pre-pandemic levels,” Bostic said. “Fortunately, it appears that retirement rates are slowly reverting closer back to their normal dynamics, which is good to see.”..."
Article Excerpt: "...“This 2% average federal pay increase is disappointing, especially when compared with an expected military pay increase of 4.5% on average. This inequity raises concerns about the fair treatment of federal employees and their contributions to our nation. “This below-market pay increase fails to reflect trends in the private sector, where wages and salaries have risen, and unemployment rates are low. Nor does it keep up with persistent inflation, leaving civil servants with diminished purchasing power. ..."
Article Excerpt: "...Series Overview
The Accident unfolds with a seemingly joyful birthday celebration that turns into a disaster when strong winds cause an accident resulting in the deaths of three young children. The ensuing blame and conflict among the adults expose deep-seated guilt and fracture relationships within the community. ..."
Article Excerpt: "...Amazon is planning to sell a paid subscription for an artificial intelligence-revamped version of Alexa that could cost as much as $10 a month. ...Amazon founder Jeff Bezos owns The Washington Post. ..."
Article Excerpt: "...In 2024, there are seven federal income tax rates and brackets: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. Taxable income and filing status determine which federal tax rates apply to you and how much in taxes you'll owe that year. ...10%: $0 to $11,600-Single, $0 to $23,200-Married, $0 to $16,550-Head-of-Household ..."
Article Excerpt: "...Once you’ve signed up for Part A (Hospital Insurance) and Part B (Medical Insurance), you can choose which way you get your health coverage. Choice 1: Do you want Original Medicare or Medicare Advantage? There are 2 main ways to get your Medicare coverage – Original Medicare and Medicare Advantage. ..."
Article Excerpt: "Some people get Medicare Part A (Hospital Insurance) and Part B (Medical Insurance) automatically, and some have to sign up for it. ..."
When you apply for retirement or disability benefits from Social Security (or the Railroad Retirement Board), it also serves as your application for Medicare. Once you get approved for Social Security or Railroad Retirement Board benefits, you’ll automatically get Part A coverage (without having to pay a premium for it) once you’re eligible for Medicare.
If you’re getting benefits from Social Security (or the Railroad Retirement Board) at least 4 months before you turn 65, you’ll automatically get Part A coverage. You’ll also be signed up for Part B (unless you live in Puerto Rico or outside the U.S.). Because you pay a monthly premium for Part B coverage, ...
Article Excerpt: "...As the boomers’ ‘silver tsunami’ crests, the age once synonymous with retirement means something very different... In 2024, the country will see “the beginning of what we call the Peak 65 zone, when we’ll see the largest surge of Americans turning 65 in our history,” ..."
Article Excerpt: "...Longer lifespans have given older singles the opportunity to have new, long relationships. But they need to first accept that it likely will be different this time around. ..."
Article Excerpt: "...It may seem difficult, even scary, to find love again later in life. But I’m happy to share that many of my clients have found new love after 60- even into their 70s and beyond! So how do you increase your chances of finding love after 60? ..."