Federal Retirement News


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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Thursday, July 12, 2018

Best Dates to Retire for CSRS and FERS Employees During 2018 and 2019

Best Dates to Retire for CSRS and FERS Employees During 2018 and 2019

Article Excerpt: "...This column discusses the recommended best dates to retire for CSRS and FERS employees during 2018 and 2019...it is important to review some retirement rules and issues affecting employees covered by the Civil Service Retirement System (CSRS) (including CSRS Offset employees) and employees covered by the Federal Employees Retirement System (FERS) (including “Trans” FERS employees)"



Resource: nalcbranch34.com

Best Dates to Retire - 2019, Best Dates to Retire - 2018, FERS Best Day of Month to Retire, CSRS Best Day of Month to Retire,

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Tuesday, July 10, 2018

Best States to Retire 2018: All 50 States Ranked for Retirement

Best States to Retire 2018: All 50 States Ranked for Retirement

Article Excerpt: "...ranked all 50 states based on financial factors critical to retirees, including living expenses, tax burdens, health care costs, household incomes, poverty rates and the economic wellness of the state itself. Of course, plenty of other factors figure into this major life decision, from proximity to family to climate preferences. But we'll leave assessing those personal considerations to you. Whether you're figuring out where to head next or just how you need to adjust your budget when moving into retirement, see how every state in the union treats its retirees financially..."



Resource: www.kiplinger.com



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Thursday, June 21, 2018

3 reasons your Social Security payments could rise in retirement

3 reasons your Social Security payments could rise in retirement

Find out what can give your monthly checks a boost

Article Excerpt: "...there are some other factors beyond your control that can lead to your Social Security checks getting bigger. By being aware of those factors, you can ensure that you get what's coming to you in the event that you become eligible to receive larger benefits..."



Resource: www.usatoday.com



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Thursday, May 17, 2018

House Committee Hearing Addresses Proposed Retirement Benefits Cuts

House Committee Hearing Addresses Proposed Benefits Cuts

Article Excerpt: "...A hearing held yesterday by the House Committee on Oversight and Government reform addressed various proposals to cut the retirement benefits of federal employees. Front and center at the hearing was OPM Director Jeff Pon..."



Resource: www.fedsmith.com



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Sunday, May 6, 2018

The ‘7 rules’ of retirement

The ‘7 rules’ of retirement

Article Excerpt: "...The old Civil Service Retirement System provided a much more generous pension/annuity than the Federal Employees Retirement System, which covers most working feds..."



Resource: federalnewsradio.com

CSRS vs FERS

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Sunday, March 25, 2018

How Much Will You Get in Social Security if You Retire in 2018?

How Much Will You Get in Social Security if You Retire in 2018?

Article Excerpt: "...Your monthly retirement benefit is based on a formula that takes into account the income you earned in your 35 highest-earning years, adjusted for inflation. This means the benefit you'll receive is directly influenced by how much you earned throughout your career. That said, there are minimum benefit amounts to ensure that qualifying retirees receive..."



Resource: www.fool.com



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Friday, March 23, 2018

Boost Social Security Checks By Tapping IRAs Early, Suggests Study

Boost Social Security Checks By Tapping IRAs Early, Suggests Study

Article Excerpt: "...Social Security payments can be boosted by early withdrawals from workplace automatic individual accounts (auto-IRAs) early, says a new study..."



Resource: www.forbes.com



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Saturday, March 17, 2018

Marrying Before or After Your Federal Retirement: Pros vs. Cons

Marrying Before or After Your Federal Retirement: Pros vs. Cons

Article Excerpt: "... going to retire in a few years and I’m in a long-term relationship, but I’m not married. What are the pros and cons of marrying before or after retirement..."



Resource: www.fedsmith.com



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Wednesday, March 14, 2018

Social Security benefits stolen by hackers, leaving families with bill

Social Security benefits stolen by hackers, leaving families with bill

Article Excerpt: "...For example, a person who claims Social Security after full retirement age is eligible for up to six months of retroactive benefits, payable in a lump sum. If you accept that lump sum, your monthly benefit is smaller. For the cyber crooks, the payout is huge if they use the ID of someone in that age range who isn't already collecting benefits..."



Resource: www.freep.com



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Sunday, February 4, 2018

5 Books to Read Now if You Want to Retire Rich

5 Books to Read Now if You Want to Retire Rich

Article Excerpt: "...here are some of the top retirement-planning books, according to expert sources and staffers at MONEY. This roundup ranges the gamut from big-picture economic questions to the nitty-gritty of your personal assets..."



Resource: time.com

Retirement Planning, Retirement Tips,

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Friday, February 2, 2018

Oops! Did you claim Social Security too early?

Oops! Did you claim Social Security too early?

Article Excerpt: "...What can you do if you claimed Social Security benefits too early? If you've decided you claimed Social Security benefits before you were ready, you have three primary options..."



Resource: www.usatoday.com



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Saturday, January 20, 2018

Buying a House on Disability Benefits or SSI

Buying a House on Disability Benefits or SSI

Article Excerpt: "...The complexities of Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) benefits leave many people wondering not only if they can buy a home, but if buying a home will, in turn, affect their benefits in the future. The short answer is many people who receive SSDI and SSI benefits can and do qualify to buy a home, but will also likely face some additional hurdles unique to receiving these benefits..."



Resource: www.zillow.com

Buying a House on Disability Benefits or SSI

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Wednesday, January 10, 2018

Military Service Credit for Federal Retirement

Military Service Credit for Federal Retirement

Article Excerpt: "...Deposits to capture military service credit are made to your employing agency and generally must be received by your employing agency before retirement. Because of the processing time involved, it is wise to make the needed arrangements well before retirement. Allow at least three months to receive your military earnings records and the calculation of the needed deposit from the Defense Department; check with your agency regarding how long it needs record a payment as received—it could be several more months. Extensions of time are allowed only in limited cases of administrative error by the employing agency..."



Resource: fedweek.com



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Tuesday, December 26, 2017

$1 increase: Retirees getting socked in 2018 over Medicare, Social Security

$1 increase: Retirees getting socked in 2018 over Medicare, Social Security

Article Excerpt: "...Kane, 90, had heard that Social Security recipients were a getting a 2 percent raise, so he had to chuckle when he saw his statement of benefits for 2018. “I couldn’t believe my eyes,” said Kane, a Scotsman living in Scotland, Pennsylvania. “I’ve never seen an increase of $1..."



Resource: www.publicopiniononline.com



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Friday, December 15, 2017

When can i withdraw from my TSP without an early withdrawal penalty tax equal to 10%?

When can i withdraw from my TSP without an early withdrawal penalty tax equal to 10%?

If you receive a TSP withdrawal payment before you reach age 59½, in addition to the regular income tax, you may have to pay an early withdrawal penalty tax equal to 10% of any taxable portion of the payment that is not transferred or rolled over. However, if you separate from service during or after the year you reach age 55 (or the year you reach age 50 if you are a public safety employee as defined by section 72(t)(10)(B)(ii) of the Internal Revenue Code), then the 10% early withdrawal penalty tax does not apply. There are other circumstances in which the 10% early withdrawal penalty does not apply that are not associated with your age at retirement. For more information, read the TSP tax notice "Important Tax Information About Payments from Your TSP Account."



Resource: www.tsp.gov



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Wednesday, November 15, 2017

The Pros and Cons of a Roth IRA

The Pros and Cons of a Roth IRA

Article Excerpt: "...When you hit retirement age, you won’t have to pay taxes on withdrawals. That can give your savings a powerful boost if your tax rate is higher in retirement. For example, a person who saves the maximum $5,500 for 30 years in a Roth could end up with an account worth $555,902, compared with a traditional IRA worth $472,835..."



Resource: www.usatoday.com



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Monday, October 30, 2017

Feds saved from retirement cuts in 2018 budget resolution with House vote

Article Excerpt: "...The House had included those instructions in its version of the budget resolution that cleared the chamber earlier this month. The original House proposals were vague, but potential changes would likely include higher employee contributions to the federal defined benefit pension plan, an elimination of supplemental payments to employees who retire before age 62 and a move to a defined contribution pension plan for new federal employees..."



Resource: federalnewsradio.com



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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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