Federal Retirement News


Monday, September 14, 2020

1.2% COLA in 2021 for Federal Retirees and Social Security?

1.2% COLA in 2021 for Federal Retirees and Social Security?

Article Excerpt: "...We still do not know what the final figure will be that is necessary for calculating the COLA to become effective in December and paid in January 2021. A reasonable estimate is that the COLA that will impact federal retirees and Social Security recipients will be about 1.2%. This missing part of the puzzle for next year’s COLA will be released in October..."



Resource: www.fedsmith.com



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Friday, August 28, 2020

Retirement living: Here's what it costs to retire comfortably in every state

Retirement living: Here's what it costs to retire comfortably in every state

Article Excerpt: "...1. Alabama

• Est. total retirement spending: $894,461 (3rd least)

• Avg. cost of living: 13.6% less than avg. (3rd lowest)

• Avg. monthly homeownership cost for senior citizens: $357 (6th lowest)

• Pop. 65 and older: 17.0% (18th highest)

In Alabama, residents need an average of about $894,000 to live out their retirement years in relative comfort – below the national average of about $1.1 million. Retirees in Alabama need less retirement savings..."



Resource: www.usatoday.com



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Tuesday, August 25, 2020

How to Increase Your FERS Annuity by 10% for Life

How to Increase Your FERS Annuity by 10% for Life

Article Excerpt: "... If you’re in FERS, you can actually lock in a 10% increase to your retirement annuity for the rest of your life..."



Resource: www.fedsmith.com

Retiring at 61 vs 62, FERS,

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When retirement is more valuable than disability compensation

When retirement is more valuable than disability compensation

Article Excerpt: "... simulations found that, for those on Reduced FECA, FERS retirement benefits generally offered greater value if the employee had served more than 19 years as a federal employee without an injury. Meanwhile those on regular FECA saw only slightly greater FERS value once they had served 30 years or more..."



Resource: www.federaltimes.com



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Tuesday, August 18, 2020

Forbes: The Best Places To Retire In 2020

Forbes: The Best Places To Retire In 2020

Article Excerpt: "...Forbes compared more than 750 locales in America, measuring everything from housing costs and taxes to healthcare and air quality. These are the top 25 cities for retirees..."



Resource: www.forbes.com

Best Places To Retire In 2020,

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Saturday, August 15, 2020

How average are you and what does it matter?

How average are you and what does it matter?

Article Excerpt: "...According to the Congressional Research Service, the average person retiring under CSRS in FY 2108 got an annuity of $4,973 per month compared to $1,834 for FERS retirees. This is another reason those covered by the FERS plan must contribute to the TSP if they hope to match income in retirement..."



Resource: federalnewsnetwork.com



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Should You Pay Off Your Mortgage?

Should You Pay Off Your Mortgage?

Article Excerpt: "...If you’re carrying a home mortgage in the 3% or 4% range, accelerating your payments or retiring the loan entirely may offer a better return than letting cash sit around earning next to nothing--and the numbers can be even more attractive for paying down higher-rate debt on credit cards or student loans. Wait, retirees don’t typically have that kind of debt on their balance sheets, right? Not exactly: A rising number of older households are carrying significant debt..."



Resource: www.morningstar.com

Retirement, Mortgage,

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Tuesday, June 16, 2020

How much is a FERS Postal Service retiree pension?

How much is a FERS Postal Service retiree pension?

Article Excerpt: "...FERS also uses the high-3 average, paying 1 to 1.1 percent of the high-3 average salary for each year of service. Under FERS, a postal worker with a high-3 average of around $60,000 and 20 years of service earns $1,007 a month without any deductions. That equals about $12,000 annually. A worker with the same salary and 40 years of service earns $2,013 monthly, or about $24,000 annually..."



Resource: chron.com

FERS Postal Service retiree pension amount, FERS vs CSRS

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Wednesday, April 29, 2020

10 Ways for Retirees to Save Money During the Coronavirus

10 Ways for Retirees to Save Money During the Coronavirus

Article Excerpt: "...there are also ways to improve your retirement finances if you implement some cost cutting strategies. Here are some simple ways to save money during the coronavirus outbreak..."



Resource: www.msn.com



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Tuesday, March 17, 2020

How bad is the stock market sell-off?

Article Excerpt: "...While the drop into a bear market over the past month is the fastest on record, the Standard & Poor’s 500 still hasn't fallen nearly as much as it did at its bottom in 2009, when it had plummeted 57% during the Great Recession. The index is off nearly 30% from its Feb. 19 high..."



Resource: www.usatoday.com

2020 Stock Market Crash,

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Tuesday, March 3, 2020

How Much of Your Income Do You Need to Replace in Retirement?

How Much of Your Income Do You Need to Replace in Retirement?

Article Excerpt: "...we have approximations like the 70-80 percent guideline. They give people an estimate to work towards, which is a step in the right direction..."



Resource: parade.com



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Wednesday, February 5, 2020

Where the Democratic Candidates Stand on Social Security

Where the Democratic Candidates Stand on Social Security

Article Excerpt: "...Elizabeth Warren: Sanders’ main rival on the left also supports the expansion of Social Security. Her plan calls for a $200 monthly increase for all beneficiaries, with the roughly $150 billion cost in the first year to be paid for by higher taxes on the rich. The taxes include a 14.8% payroll tax on incomes over $250,000 and a 14.8% tax on investment income for the top 2% of earners. The taxes would reduce the deficit by $1 trillion over 10 years and extend the life of the Social Security trust fund ..."



Resource: yahoo.com

Elizabeth Warren Social Security Upgrade,

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Tuesday, February 4, 2020

Federal retirements dropped in 2019, as employees cite wide variety of motivations to stay or go

Federal retirements dropped in 2019, as employees cite wide variety of motivations to stay or go

Article Excerpt: "...Many survey respondents said they planned to retire at age 62, because the Federal Employee Retirement System (FERS) incentivizes participants to keep working until that specific age...For the purposes of calculating their annuities, 62-year-old employees receive 1.1% of their average highest three years of salary for each year of service, instead of 1%..."



Resource: federalnewsnetwork.com



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Thursday, December 26, 2019

Here's Your 2020 Military Retiree, VA and Social Security Pay Bump

Here's Your 2020 Military Retiree, VA and Social Security Pay Bump

Article Excerpt: "...Military retirees, those who receive disability or other benefits from the Department of Veterans Affairs, federal retirees and social security recipients will see a 1.6% increase in their monthly checks for 2020..."



Resource: www.military.com



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Sorry, Seniors: 2020's Social Security Raise Is a Big Disappointment

Sorry, Seniors: 2020's Social Security Raise Is a Big Disappointment

Article Excerpt: "...the news on the COLA front isn't so encouraging going into 2020: Seniors will only be getting a 1.6% boost in their benefits, which pales in comparison to the 2.8% COLA they received going into 2019..."



Resource: www.fool.com



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Sunday, December 22, 2019

This Is the Best Retirement Strategy for Seniors

This Is the Best Retirement Strategy for Seniors

Article Excerpt: "...There are a lot of factors to consider for a great retirement strategy -- such as your expected healthcare costs, living expenses in retirement, life expectancy, savings, investments, and retirement accounts such as a Roth IRA. The list of questions below can help you approach them all, as you aim for maximum retirement income..."



Resource: www.fool.com



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Social Security Rules That Can Make or Break Your Retirement

Social Security Rules That Can Make or Break Your Retirement

Article Excerpt: "...If you're going to be depending on your benefits to make ends meet in your golden years, it's crucial to do your best to maximize those checks. And there are a few Social Security rules you need to understand to truly make the most of your benefits..."



Resource: www.nasdaq.com

Social Security

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Monday, December 16, 2019

TSP: Two-step authentication mandatory before the end of 2019

TSP: Two-step authentication mandatory before the end of 2019

Article Excerpt: All TSP participants must have validated contact information and use two-step authentication to log into My Account before the end of 2019. You can avoid interruption to your account access by adding these security features in your My Account Profile Settings now. Download instructions (pdf)PDF file. Two-step authentication helps protect your account against fraud. This login process is more secure because it means that online access to your account requires something you know (your account number or username and password) and something you have (the one-time code you receive in your email or on your phone). Someone who tries to log into your account fraudulently won’t be able to gain access without the code. We recommend that you include at least one contact method on your account that will stay with you through career, such as a personal email.



Resource: www.tsp.gov



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Monday, November 11, 2019

Planning for Retirement: Should You Pay Off the House Early?

Planning for Retirement: Should You Pay Off the House Early?

Article Excerpt: "...These days, more retirees are carrying mortgage debt into retirement. About half of all retirees ages 65 to 69 were mortgage-free in 2015, down from nearly 60% in 2000, according to mortgage giant Fannie Mae..."



Resource: www.kiplinger.com



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Tuesday, October 29, 2019

Become a Sweepstakes Pro!

Become a Sweepstakes Pro!

Article Excerpt: "...Learning the tips and tricks that improve your odds of winning online sweepstakes can become a lucrative hobby once you start to streamline your operation with time-saving tools and a little know-how! Assembling your toolkit The payoff for entering online sweepstakes can be large..."



Resource: iloveretirement.com



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Sunday, August 4, 2019

5 Social Security Changes in 2020 That Could Affect Your Take-Home Income

5 Social Security Changes in 2020 That Could Affect Your Take-Home Income

Article Excerpt: "...Since we don't know what the reading for July through September will be, 2020's COLA remains undetermined at this point. However, most forecasts have called for a COLA of perhaps 1.7% to 1.8% next year, which would lead to an increase pay for the average retired worker of about $25 a month, based on the average payout of $1,471 a month, as of June 2019..."



Resource: yahoo.com



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Sunday, April 14, 2019

How Much of Your Retirement Will Social Security Pay For?

How Much of Your Retirement Will Social Security Pay For?

Article Excerpt: "...Social Security isn't meant to sustain seniors by itself. Those benefits will replace about 40% of an average earner's pre-retirement income. For higher earners, it'll replace an even smaller percentage...The average Social Security recipient today collects $17,532 a year in benefits..."



Resource: www.fool.com

retirement, Social Security,

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Monday, February 11, 2019

Retired investors should rethink their strategy to account for risk, expenses and inflation

Retired investors should rethink their strategy to account for risk, expenses and inflation

Article Excerpt: "...A stock-laden portfolio designed for growth may be too risky when there's less time to wait out downturns and no fresh money going in. And the safe-looking alternative of switching to short-term bonds and cash could backfire if inflation takes a toll in a long retirement..."



Resource:



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How a small change could have a big negative impact on federal retirement

How a small change could have a big impact on federal retirement

Article Excerpt: "...the Chained index would result in a six percent income decrease over 30 years for COLA recipients..."



Resource: www.federaltimes.com



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Monday, February 4, 2019

3 Strategies That Are Proven To Increase Retirement Happiness

3 Strategies That Are Proven To Increase Retirement Happiness

Article Excerpt: "...Forget the numbers, and focus on these non-financial indicators of retirement satisfaction to help ensure you’ll find fulfillment later on in life..."



Resource: www.forbes.com



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Sunday, January 13, 2019

Little or Nothing Saved For Retirement? You Are Not Alone

Little or Nothing Saved For Retirement? You Are Not Alone

Article Excerpt: "...Roughly a third of Baby Boomers have saved less than $25,000 while just over a fifth of all American have no savings at all, according to a study by Northwestern Mutual. However, the good news is that it is never too late to start saving for retirement, or to make decisions that will help create more financial stability when it comes time to retire..."



Resource: www.thestreet.com

Saving for Retirement, Financial Stats (Retirement), Retirement Tips, Social Security tips,

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Wednesday, December 26, 2018

Monday, December 24, 2018

Is your TSP account suffering pre-recession blues?

Is your TSP account suffering pre-recession blues?

Article Excerpt: "...The G fund has returned 2.8 percent, making it the star performer for this time period. Should you be worried? It depends upon your financial situation. For example, if you are 62 years old, recently retired and already withdrawing funds from the TSP to supplement Social Security and your annuity, then perhaps you should worry. If you are..."



Resource: federalnewsnetwork.com



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Friday, December 14, 2018

Summary of Recent Trends in the Federal Employees’ Retirement System

Federal Employees’ Retirement System: Summary of Recent Trends (PDF)

Article Excerpt: "...This report describes recent trends in the characteristics of annuitants and current employees covered by the Civil Service Retirement System (CSRS) and the Federal Employees’ Retirement System (FERS) as well as the financial status of the Civil Service Retirement and..."



Resource: Federation of American Scientist (fas.org)

Trends in FERS and CSRS (2018)

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Monday, December 10, 2018

House Democrats look to boost federal worker retirement plans

House Democrats look to boost federal worker retirement plans

Article Excerpt: "...Connolly's bill would make COLA adjustments under FERS just as big as they are under CSRS, a change he says it needed to protect the later generations of federal employees. "Over time, we now realize that this two-tiered system fails to protect FERS retirees who are living on a fixed income..."



Resource: www.washingtonexaminer.com

FERS vs CSRS, FERS COLA, CSRS COLA, COLA for federal retirees,

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Thursday, November 15, 2018

Social Security's ultimate insult

Social Security's ultimate insult

Article Excerpt: "...If the same savings had been put in an equity fund that tracks the broad stock market averages (such as the S&P 500) instead of Social Security, your return on retirement could easily amount to five times that amount over a lifetime. Even if you had put your savings in safe government bonds, you could be assured of annual retirement returns of two to three times what Social Security returns pay out..."



Resource: www.foxbusiness.com

Social Security, Ponzi Scheme,

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Wednesday, November 14, 2018

Applying for FERS Disability Retirement: Laying the Foundation

Applying for FERS Disability Retirement: Laying the Foundation

Article Excerpt: "...Are you thinking about applying for FERS Disability Retirement (FDR)? If so, here are three things you should do before you initiate the application process. By checking these items off your list, you can set yourself up for success..."



Resource: www.fedsmith.com

Disability Retirement

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Wednesday, November 7, 2018

Why Do So Many People Claim Social Security at 62?

Why Do So Many People Claim Social Security at 62?

Article Excerpt: "...Seniors who enter their 60s already grappling with serious medical issues are often wise to file for benefits at 62, since doing so will likely result in a higher lifetime payout than they'd get by waiting..."



Resource: finance.yahoo.com



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Thursday, September 27, 2018

Many Under CSRS are Reaching Their Annuity Limit

Many Under CSRS are Reaching their Limit

Article Excerpt: "...Under CSRS, the dollar amount of your annuity cannot exceed 80 percent of your high-3 average salary. That’s the amount you would get if you had 41 years and 11 months of creditable service. Those who have worked in certain occupations..."



Resource: www.fedweek.com



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Tuesday, September 25, 2018

VOTE! How to register to vote #RegisterToVote

Register to Vote and Confirm or Change Registration

Article Excerpt: "...Learn if you're eligible to vote, how to register, check, or update your information..."



Resource: www.usa.gov

#RegisterToVote, Vote,

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Monday, September 17, 2018

2019 Social Security cost-of-living adjustment now expected to be 2.8 percent

2019 Social Security cost-of-living adjustment now expected to be 2.8 percent

Article Excerpt: "...It looks like Social Security benefits will increase by about 2.8% in 2019. Although that's down slightly from an earlier estimate, it still would be the largest benefit boost in seven years..."



Resource: www.investmentnews.com



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Thursday, August 9, 2018

Social Security COLA Looks Likely To Top 3% In 2019

Social Security COLA Looks Likely To Top 3% In 2019

Article Excerpt: "...Overall U.S. inflation (CPI-U) is running at 2.9% as of June, but the index used by Social Security Administration - the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) - is slightly higher at 3.1%. The SSA's equation for the COLA is rather complex..."



Resource: seekingalpha.com

CPI-W

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Tuesday, August 7, 2018

Ben Affleck’s Georgia Plantation Estate Could be Your Little Retirement Paradise

Ben Affleck’s Georgia Plantation Estate Could be Your Little Paradise

Article Excerpt: "...Yes, the renowned actor, filmmaker and philanthropist Ben Affleck is selling his charming Georgia plantation and it will cost you a cool $8.9 million to enjoy this little paradise. The sprawling estate covers 87 acres and it’s located on a secluded private island, around 30 miles south of Savannah – on the Hampton Island Preserve where it overlooks the North Newport River..."



Resource: luxatic.com



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Friday, July 20, 2018

Retirement Backlog Creeps Up, Justice Backtracks on Link Between OPM Hack and Fraud Case

Retirement Backlog Creeps Up, Justice Backtracks on Link Between OPM Hack and Fraud Case

Article Excerpt: "...According to statistics released last week, the retirement backlog increased by less than 200 claims in June to 18,198, up from 18,024. But the number of new claims received jumped from 7,625 in May to 9,397 last month. That total marks a significant increase over the same period in 2017..."



Resource: www.govexec.com

Retirement Backlog, Retirement Information (OPM), OPM,

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Tuesday, July 17, 2018

These retirement cut proposals threaten millions of federal workers

These retirement cut proposals threaten millions of federal workers

Article Excerpt: "...the fact that some workers would pay an additional 6.45% of their salaries would lead to effective pay cuts of thousands of dollars each year...Elimination of supplemental annuities..."



Resource: www.usatoday.com



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