2011 Financial Numbers for Federal Employees

By on December 14, 2010 in Current Events, Retirement with 4 Comments

Every year various agencies update numbers (generally dollar
amounts) for benefits that will impact federal employees and retirees. Not every agency has issued all their 2011
updates, but many of them have. Here are
some of them. Many of them represent no
change from last year. Here is financial information that will be useful to those in the federal community.

  • Maximum taxable earnings for Social Security – $106,800
  • Quarter of coverage (credit) under Social Security – $1,120
  • Earnings test for under full retirement age for Social
    Security and FERS Special Retirement – $14,160
  • Earnings test for full retirement age for Social Security –
    $37,680
  • Medicare Part A deductible – $1,132
  • Medicare Part A co-pay for 61 to 90 days – $283
  • Medicare Part A co-pay for lifetime reserve days (60) – $566
  • Medicare Part B deductible – $162

 

Medicare Part B premiums:

 

Single Filing Status

Joint Filing Status

You Pay

$85,000 or less and receiving SS benefits in 2009

$170,000 or less and receiving SS benefits in 2009

$96.40

$85,000 or less and receiving SS benefits in 2010 but not
in 2009

$170,000 or less and receiving SS benefits in 2010 but not
in 2009

$110.50

$85,000 or less and not receiving SS benefits in either 2009 or 2010

$170,000 or less and not receiving SS benefits in either
2009 or 2010

$115.40

$85,001 to $107,000

$170,001 to $214,000

$161.50

$107,001 to $160,000

$214,001 to $320,000

$230.70

$160,001 to $214,000

$320,001 to $428,000

$299.90

Above $214,000

Above $428,000

$369.10

 

  • Interest rate for civilian deposits and re-deposits for CSRS
    and FERS (calendar year 2011) – 2.75%
  • Interest rate for military deposits for CSRS and FERS
    (fiscal year 2011) – 2.844% 

 

Phase out on deductibility of contributions to a Traditional
IRA (applies to those covered by a retirement plan at work):

 

Single Filing Status

Joint Filing Status with Spouse Also Belonging to a
Retirement Plan at Work

Joint Filing Status with Spouse Not Belonging to a
Retirement Plan at Work

Fully deductible below $56,000

Fully deductible below $90,000

Fully deductible below $169,000

Partially deductible between $56,000 and $66,000

Partially deductible between $90,000 and $110,000

Partially deductible between $169,000 and $179,000

Not deductible over $66,000

Not deductible over $110,000

Not deductible over $179,000

 

Phase out on ability to contribute to a Roth IRA:

 

Single Filing Status

Joint Filing Status

Full contribution below $107,000

Full contribution below $169,000

Partial contribution between $107,000 and $122,000

Partial contribution between $169,000 and $179,000

No contribution over $122,000

No contribution over $179,000

 

John Grobe’s latest book, The Answer Book on Your Federal Employee Benefits, has just been released by LRP Publications. The book is written in an easy to understand question and answer format and covers all areas of federal benefits from the perspective of an employee at various stages of their career. Order your copy at shoplrp.com.

© 2016 John Grobe. All rights reserved. This article may not be reproduced without express written consent from John Grobe.

About the Author

John Grobe is President of Federal Career Experts, a consulting firm that specializes in federal retirement and career transition issues. He is also affiliated with TSP Safety Net. John retired from federal service after 25 years of progressively more responsible human resources positions. He is the author of Understanding the Federal Retirement Systems and Career Transition: A Guide for Federal Employees, both published by the Federal Management Institute. Federal Career Experts provides pre-retirement seminars for a wide variety of federal agencies.

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