A news and educational resource pooling excerpts from various news and information sources from the web for the Federal Retiree.
Article Excerpt: "...Services Online lets annuitants (federal retirees or their spouses, ex-spouses, and children) manage your account online. Your account is securely protected by the U.S. Office of Personnel Management (OPM). ..."
Article Excerpt: "...The Civil Service Retirement System (CSRS) is a defined benefit, contributory retirement system. Employees share in the expense of the annuities to which they become entitled. CSRS covered employees contribute 7, 7 1/2 or 8 percent of pay to CSRS and, while they generally pay no Social Security retirement, survivor and disability (OASDI) tax, they must pay the Medicare tax (currently 1.45 percent of pay). The employing agency matches the employee's CSRS contributions...."
Article Excerpt: "...FERS is a retirement plan that provides benefits from three different sources: a Basic Benefit Plan, Social Security and the Thrift Savings Plan (TSP). Two of the three parts of FERS (Social Security and the TSP) can go with you to your next job if you leave the Federal Government before retirement. The Basic Benefit and Social Security parts of FERS require you to pay your share each pay period. Your agency withholds the cost of the Basic Benefit and Social Security from your pay as payroll deductions. Your agency pays its part too. Then, after you retire, you receive annuity payments each month for the rest of your life...."
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..."
Article Excerpt: "...The federal government’s long-awaited retirement wave is here, and it’s smacking headlong into the biggest hiring slowdown in a decade. And it’s not just retirements. Overall attrition shot up..."
Article Excerpt: "...The longest-serving feds are covered by the Civil Service Retirement System. Those hired in 1984 or later are covered by the Federal Employees Retirement System. In between are those covered by CSRS Offset, a hybrid that combines CSRS and Social Security...."
Article Excerpt: "...the Republican Study Committee, a caucus of conservative members of the House, suggests making fundamental changes to the federal retirement and health benefit systems to curtail government spending. ..."
Article Excerpt: "...how to discuss its top priorities with lawmakers: federal pay, retirement, workforce reduction proposals, and Customs and Border Protection staffing levels. They provided the following alternatives to legislation targeting federal workers:..."
Article Excerpt: "..."The greatest turnover on a voluntary basis outside of retirement is during the first one to two years of a person's employment," Palguta said. "Folks come into government. They're persuaded by a call to public service or a belief that they're going to have a chance to do something meaningful...."
Article Excerpt: "...Timanus said he has been hearing for years about an impending wave of retirees that would decimate the federal workforce. But he has yet to see any sign that it is happening...."
Article Excerpt: "...leaving Mitt Romney as the only leading GOP contender not to advocate fundamental changes to the federal retirement program. Younger workers also could..."