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

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

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

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

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

How to Claim Social Security Survivor Benefits

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..."

Resource: www.fool.com

Social Security survivor benefits

How To Pick Your FERS Retirement Date Like A Pro

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..."

Resource: www.fedsmith.com

3 Social Security Rules You Should Know By Heart

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..."

Resource: madison.com

6 Possible Civil Service Changes in the 115th Congress

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..."

Resource: www.fedsmith.com

Aren't you dead yet? Should Social Security's retirement age be raised to 69?

Should Social Security's retirement age be raised to 69?

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..."

Resource:

Social Security Benefit Formula Robs Older Workers

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..."

Resource: www.forbes.com

Where do the presidential candidates stand on Social Security?

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...."

Resource: www.pbs.org

Jack Bogle’s 5 Simple Rules for Investing in Stocks

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..."

Resource: aarp.org

Jack Bogle, Investing in Stocks, Bogleheads,

Federal Retirees Need To Tighten Belts While Current Employees Expect To See Pay Increases

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..."

Resource: www.fedsmith.com

A Retirement-Savings Tip for Clients Who Are Federal Employees

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..."

Resource: www.wsj.com