A news and educational resource pooling excerpts from various news and information sources from the web for the Federal Retiree.
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..."
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..."
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..."
Article Excerpt: "...the Chained index would result in a six percent income decrease over 30 years for COLA recipients..."
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..."
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..."
Read how to avoid these retirement mistakes
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: "...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..."
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..."
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..."
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..."
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..."
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..."
Article Excerpt: "...Learn if you're eligible to vote, how to register, check, or update your information..."